2019-10-23 15:03 |
Creating altcoins is currently still more attractive than adding new functionality to Bitcoin, according to Blockstream CEO Adam Back
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The crypto community was split in half when a proposal about Bitcoin sidechains was reintroduced. While the proposal aims to expand the utility of Bitcoin, its limitations cause controversy. A blockchain merge-mined with Bitcoin that also employs gas fee-friendly economics might hold the answer.
Faced with the threat of ossification, Bitcoin Core should adopt BIPs 300 and 301, integrating Drivechain’s solutions for ongoing security.
The bitcoin price may be down from its all-time highs, but off-chain uses for bitcoin assets are in their own bull market.
Drivechain, a proposed soft fork via BIPs 300 and 301, could introduce a portfolio of sidechains to Bitcoin and replicate any altcoin use case.
Drivechains, like softchains, are another sidechain implementation with two-way peg functionality.
While spacechains have limited functionality for Bitcoin users, they do provide some interesting use cases worth exploring.
A wave of decentralized finance (DeFi) products, mostly built on Ethereum, has some wondering if Bitcoin could benefit from the ecosystem. The post Bitcoin Has No Real Use For DeFi In Its Current Form appeared first on Bitcoin Magazine.