New Drivechain proposals submitted for Bitcoin

Drivechain protocol presented for Bitcoin main network to enable alternative functions
04 December 2017   568

The so-called Drivechain protocol is an extension to main Bitcion network. It can be forked into the base Bitcoin operations, adding new features, e.g. sidechains to enable faster transactions, smart contracts, faster block processing. And while new features are added, it's not an altcoin, but a tethered add-on to main protocol, working side-by-side with mainstream blockchain.

Drivechain had a very shaky foundation because all of the previous variants were considered a pipe dream, but right now everyone can get a look at the existing code, courtesy of Paul Sztorc. He has a reputation as a developer of Bloq, enterprise-grade blockchain technology, and Hivemind chief scientist.

Now Sztorc proposed a set code for implementation of sidechains augmenting existing blockchain network and currently asks for code review from his peers. One of the current Bitcoin Improvement Proposals (BIP) focuses on the hashrate escrow concept, which essentially is a variation of multisignature escrow, signed by the third-party miners not by a private key but by dedicating their hashpower to the transaction. Second BIP revolves around Blind Merged Mining. According to Github proposal, it allows for 'extension blocks' to be used in two or more sidechains for mining without any need for validation, it produces strong guarantees that the block is valid according to any set rules because of the multichaining.

As of now, two new BIP are awaiting formal numbers from developer community. Many people believe that the sidechain technology can be beneficial and will remove the need for many altcoins employed today by providing the same features in mainstream Bitcoin network.


Cloudflare to Develop IPFS Gateway

According to the developers, new gateway will allow to create P2P based websites
20 September 2018   113

Cloudflare told about the IPFS gateway, which will allow creating sites based on P2P network. The company said that access to content will be done without having to install special software on the devices.

As a technology feature, Cloudflare experts note decentralization. Using a standard network scheme with servers involves physical storage of data in one place. Hacking the server or damage to communications as a result of an emergency (for example, a natural disaster) will lead to inaccessibility of information or its loss. The same is threatened with information if the server owner has decided to refuse it.

Cloudflare Network
Cloudflare Network

The IPFS gateway combines computers, on each of which some information is stored, to the worldwide network. Therefore, the inaccessibility of one computer does not mean that the content can not be viewed or downloaded. Therefore, the key differences are two:

  1. With IPFS, anyone can freely post information instead of storing it on remote servers and paying for their services.
  2. Requests for access to data are carried out using cryptographic hashing, rather than by IP address. The query data is converted to a series of letters and numbers, by which the system finds the required files. For example, the query for any information will not like "get information that is located at IP address", but the kind "get information with hash sum QmXnnyufdzAWL5CqZ2RnSNgPbvCc1ALT73s6epPrRnZ1Xy". This hash sum is part of the desired file and is on several computers.

The system automatically determines the authenticity of the file. If we take as an example a query with a hash sum QmXnnyufdzAWL5CqZ2RnSNgPbvCc1ALT73s6epPrRnZ1Xy, then when receiving the information it should remain the same. If the hash value differs, then the file has been changed. In other words, the hash-sum can be represented as a unique fingerprint:

IPFS Security
IPFS Security

Supporters of decentralization are also in a number of other companies. Mozilla employees believe that consumers should not be tied to a particular product, brand or platform. In early August 2018, developers published a version of the IoT gateway Things Gateway 0.5. In it, they realized the possibility of loading third-party icons and an interface for complex devices.