Bitcoin’s Features Could See Big Boost By Tierion’s Proposal for ‘Multi-Network Coin’

Tierion is excited to shake up the Bitcoin market by implementing new technology, three years in the making, that it claims will allow Bitcoin to be custom programmed, similar to Ethereum.

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Tierion is excited to shake up the Bitcoin market by implementing new technology, three years in the making, that it claims will allow Bitcoin to be custom programmed, similar to Ethereum.

Multi-network cryptocurrency code now available in a test version

Paul Sztorc, the director of research at Tierion, revealed that the testnet for this code will be released soon, a development that comes three years after the idea was first publicly announced.

The startup’s official website stated that the code turns the Bitcoin blockchain into a global platform for verifying any data, file, or business process.

The sidechain, if added to the Bitcoin network, would enable the development of additional branches within the network, giving it a similar working style to Ethereum.

The company is promising to ensure that the assets present on this sidechain would have the option of customized programming.

While the original idea came from Blockstream, Tierion took it and made it expanded it into an exciting new use case.

Sztorc wrote in a blog post that if this ‘multi-network coin’ idea is proven to be viable, it has profound implications for the crypto’s most salient problems.

He posted that the release would be in two parts;

  1. Bitcoin Core 16.99, modified to support drivechain technology,
  2. Bitcoin Core 16.99, modified to be a vanilla, minimalist, ‘blank’ sidechain, with similar capabilities to Bitcoin Core.

Sztor added that Bitcoin would have the capability to implement technology such as larger blocks, Turing-completeness, and ring signatures.

Despite the anticipation that this project has garnered over the past few years, Sztorc noted that this pilot release would not be perfect and is only the first code release involving side chains.

Exciting future for Bitcoin

He added that it is good to finally be able to show people what exactly Drivechain does.

Sztorc further added that if the code gets to Bitcoin, then it would give the network developers a chance to do away with the biggest challenge facing the network which is adding features to the network without changing the core network incentives.

The code can be implemented to the network via a soft fork, with the blog post pointing out that there would be no need to fight about which features bitcoin should have.

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