Oddbean new post about | logout
 I've spent a couple days reading about drive chain, including reading the bips and listening to about 6 hours of Paul talking about it.

I'm always open to changing my position, and I have done so, from being optimistic to being very cautious. 

Drive chain side chains could be at best a way to enable innovation directly on Bitcoin, rather than independent chains or on Ethereum.

However, I think other proposals allow this in a safer manner.

The neutral case is nobody cares about these side chains because they are subject to the whims, vulnerabilities, and incentives of Bitcoin miners.

The worst case is far from the benign outcome Paul portrays.

But since my interest is really in *scaling Bitcoin as money*, my final judgement is simply that drive chains *cannot* be a solution to scale.

I am grateful to Paul for his work, and am strongly considering his proposition that unilateral exit to layer 1 is not a necessary characteristic of a layer 2.  However, if that is the case, then the layer 2 must provide *strong* censorship resistance and privacy.