Source: Adobe/Berk.

10 days were insufficient for blockchain designers to win a brand-new Bitcoin (BTC) contest, introduced by Paul Sztorc, an independent BTC scientist, and use a BTC 6.1 (USD 53,600) reward fund. Entrants still have at least 12 days to go.

The contest started recently and consists of possible overall benefits of up to BTC 6.1 for designers who are able to effectively carry out the privacy-focused cryptocurrency Zcash (ZEC) as a Bitcoin drivechain by means of a sidechain (a different blockchain that is connected to the main blockchain) design template.

A drivechain is a kind of Bitcoin sidechain where miners successfully hold the funds on the sidechain in escrow. Bitcoin users can send out BTC to a drivechain, which is a totally various blockchain, to gain access to numerous features that are not currently readily available on Bitcoin’s main chain. The tradeoff is that a 51% attack on Bitcoin now suggests miners can take the funds hung on the drivechain.

Sztorc initially revealed his drivechain concept in a November 2015 blog sitepost The scientist dealt with this project due to the fact that he required a method to execute his peer-to- peer oracle procedure referred to as Bitcoin Hivemind.

What are the objectives of this contest?

For Sztorc, the goal of this contest is to compensate people for the time it takes to check out his drivechain project, check out the software application, and develop something terrific at the same time.

“[It’s also helpful] for me to find out if other individuals can make any sense of our sidechain design template or how it works, [and we can] get more feedback about how to much better run future contests,” Sztorc informed Cryptonews.com

According to him, Zcash was selected as the altcoin to carry out by means of a sidechain design template for particular factors.

“The contest pays people if they are the first to assemble a certain type of software,” stated Sztorc.

“Zcash was made by forking Bitcoin, so really all people have to do is exactly that, again. Then again software development is very difficult, so I have no clue at all if I’ve given enough time or money or what.”

Sztorc stated no one has actually effectively finished the Zcash sidechain execution for Bitcoin at this moment.

When drivechain on Bitcoin?

As soon as somebody is able to carry out a Zcash sidechain by means of the drivechain software application, it can be utilized for screening on the drivechain test network, referred to as DriveNet.

“It is a lot like how SegNet was used to test SegWit,” stated Sztorc.

As soon as drivechain abilities are added to Bitcoin or another cryptocurrency network, it would be able to use this Zcash sidechain.

“It is kind of like a plugin,” added Sztorc.

According to him, the drivechain code has actually been significantly enhanced in regards to the variety of actions that need to be taken to create a brand-new sidechain, as described in a blog site post from December2019 A preliminary soft fork is still required to allow drivechains on Bitcoin.

“So, the initial soft fork is required to enforce Drivechain, but no new bureaucratic chicanery is required to add individual sidechains,” discussed the scientist.

As soon as drivechain performance is made it possible for on the Bitcoin network, each specific drivechain can be triggered by means of approval from miners representing 95% of the network hashrate.

In regards to what’s next, Sztorc mentioned that the soft fork code to allow drivechain-based sidechains ought to be completed prior to anything else takes place.

“We still have one or two things left to add and debug,” stated Sztorc.

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