Testnet has proposed the expansion of Bitcoin capabilities such that it would be able to add new features and functionalities to its network.
Director of research at startup Tierion, Paul Sztorc, told CoinDesk in an interview that a test variant of the code is to be unveiled on Tuesday, a development that comes almost three years after the thought was first considered towards the end of 2015. From that point forward, momentum has built for the idea – now hailed as maybe the most ideal approach to actualize sidechains on Bitcoin network.
The sidechain idea was first conceptualized in 2014. The concept attempts to enable the creation of branches on the bitcoin network that would work almost similar to Ethereum blockchain. Basically, digital assets in these channels would be able to be custom programmed.
Sztorc wrote in the blog post:
“If this ‘multi-network coin’ idea is found to be viable, it has profound implications for the crypto’s most salient problems. Bitcoin would be able to copy, without controversy, any technology, including: larger blocks, Turing-completeness, and ring signatures. “
The Drivechain Testnet
SZtorc said the code release is not picture-perfect but marks a great milestone for the idea.
“It’s good to be able to show people what exactly Drivechain does,” he added.
The Drivechain Tesnet, for one, will indicate branches that describe the manner in which the code brings in new features, such as the ability to reset a proof-of-work algorithm.
Explaining the usefulness of Drivechain, the Tierion Research Director said that, if the coding makes it to Bitcoin, programmers could at long last do away with the greatest challenge – adding features and functionalities without changing blockchain incentives. The least demanding approach to execute the idea is with a soft fork.
“There would be no need to fight about which features Bitcoin should have (or which features define Bitcoin),” the blog describes.