Bitcoin News
By Sydney TheCMO
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Why Drivechains Matter Here. Drivechains are the backbone of this whole plan. They're sidechains that let BTC move around…
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The Name Carries Weight. eCash isn't a random name. David Chaum created the original eCash back in the 1990s, one of the…
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Paul Sztorc just dropped a bomb. The drivechain developer behind BIP-300 wants to hard fork Bitcoin and manually reassign part of Satoshi Nakamoto's original coin stash to…
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Sztorc said on social media that fewer than half of the 1.1 million coins tied to the "patoshi" pattern would get redistributed.
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The eCash project will launch with seven drivechains already in development. That's not a small number.
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Drivechains have been a hot topic in Bitcoin circles for a while now. Some developers love the idea because it expands what Bitcoin can do without changing the base layer.
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eCash isn't a random name. David Chaum created the original eCash back in the 1990s, one of the first serious attempts at digital money.
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But his eCash is different. It's not just another coin trying to ride Bitcoin's coattails. Sztorc wants to use Bitcoin's existing network and add functionality through sidechains…
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The project is set to launch in about 119 days from Sztorc's announcement. That's a pretty specific timeline.
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Reassigning Satoshi's coins is the real lightning rod here. Those coins have been untouched for over a decade, and most people assume they'll stay that way forever.
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Read also: Metaplanet Scores $50M in Zero-Interest Bonds to Stack More BTC
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It's a bold move, and it's going to piss people off. Bitcoin purists don't like the idea of messing with the original holdings, even if they're dormant.
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The drivechain concept could actually change how people use Bitcoin if it works. Smart contracts on Bitcoin have been possible for a while, but they're clunky and limited.
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LayerTwoLabs is positioning this as a way to bring Bitcoin into DeFi without compromising its core principles. That's the theory.
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The crypto community's reaction so far has been mixed. Some people think Sztorc is trying something genuinely innovative.
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