HuluvuBlue on Nostr: We need drivechains so we can avoid the dystopian permissioned LN architecture you ...
We need drivechains so we can avoid the dystopian permissioned LN architecture you described here:
https://youtu.be/rwavPMJOUA4
Bitcoined is an open network - any custodial or permissioned "layer 3" doesn't scale the bitcoin network - it scales the power of the service providers.
If bitcoin is contained to a few million peoples cold storage and the legacy institutions it will go the same route as gold.
Drivechains allow users to onboard to a the bitcoin network directly from the layer 2, in my opinion a must for adoption.
Drivechains are the best way to grow the security budget. We will need more transaction fees as the block reward decreases.
Drivechains are the best way to foster innovation in regards to building robust open communications layers for the future. see: https://vukolic.com/on-the-future-of-decentralized-computing.pdf
There is already a merge mined bitcoin sidechain (usually between 45 and 75% BTC hashrate merge mining it) called Rootstock. Rootstock has cheaper txn fees and allows for protocols like Money on Chain or Sovryn to issue Bitcoin backed stablecoins. People in parts of the world where access to USD is difficult or illegal like Argentina use this to preserve their purchasing power in the short term and HODL long term. RSK is about 2/3 size of LN in terms of BTC locked.
https://youtu.be/rwavPMJOUA4
Bitcoined is an open network - any custodial or permissioned "layer 3" doesn't scale the bitcoin network - it scales the power of the service providers.
If bitcoin is contained to a few million peoples cold storage and the legacy institutions it will go the same route as gold.
Drivechains allow users to onboard to a the bitcoin network directly from the layer 2, in my opinion a must for adoption.
Drivechains are the best way to grow the security budget. We will need more transaction fees as the block reward decreases.
Drivechains are the best way to foster innovation in regards to building robust open communications layers for the future. see: https://vukolic.com/on-the-future-of-decentralized-computing.pdf
There is already a merge mined bitcoin sidechain (usually between 45 and 75% BTC hashrate merge mining it) called Rootstock. Rootstock has cheaper txn fees and allows for protocols like Money on Chain or Sovryn to issue Bitcoin backed stablecoins. People in parts of the world where access to USD is difficult or illegal like Argentina use this to preserve their purchasing power in the short term and HODL long term. RSK is about 2/3 size of LN in terms of BTC locked.