New Drivechain proposals submitted for Bitcoin

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

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.

 

First NEO Dev Comp announced

NEO and Microsoft China announced developer's competition with $490,000 in prizes
21 November

NEO together with Microsoft announced the first developer's competition. There is $490,000 worth in prizes, with a first prize pool of $150,000. The entries will be judged by NEO founders Da Hongfei and Eric Zhang, City of Zion founder Fabio Canesin, Elastos Founder Rong Chen, and Ontology founder Jun Li. The purpose of the competition is to continue the growth of the development community and further development of the NEO ecosystem.

There are 5 rules in this competition:

  1. The competition will open on November 20, 2017 and close at 11:59 PM Beijing time (GMT+8), March 10, 2018.
  2. Participants are required to develop on the NEO blockchain.
  3. During the competition, developers are free to collaborate and to submit their work as a team.
  4. Teams or individuals who fail to submit their work before 11:59 PM Beijing time (GMT+8), March 10, 2018 will not be eligible for prizes.
  5. Your submission must contain executable programs and codes.

The prize fund was divided as follows:

  1. First prize - $150 000 (1 team)
  2. Second prize - $50 000 (2 teams)
  3. Third prize - $30 000 (3 teams)
  4. Award of merit - $10 000 (10 teams)

Outstanding projects will be invited to attend NEO DevCon which will be held in Silicon Valley in January 2018.