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What is softchain and how is it different from drivechain? What are associated tradeoffs and feedback from community?

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What is softchain

Softchains: Sidechains as a Soft Fork via Proof-of-Work Fraud Proofs. Decentralized two-way peg sidechain design. Activating new sidechains requires a soft fork, hence the name softchains.

Ruben Somsen shared about a new concept "Softchain" on Twitter and Bitcoin Dev mailing list:

https://web.archive.org/web/20210101153139/https://twitter.com/SomsenRuben/status/1344770107017457664

https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2020-December/018331.html

how is it different from drivechain?

It's similar to drivechains, but without the major downside of having to rely on miners, since all Bitcoin full node users can efficiently validate each sidechain.

What are associated tradeoffs and feedback from community?

You can find few in the replies to the tweet shared above, Paul Sztorc's tweet and below links (mailing list):

ZmnSCPxj: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2020-December/018332.html

Sergio Demian Lerner: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2020-December/018333.html

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  • It is good to include links but it would be better if the key points from those links was included in the SE answer rather than answering questions with links. e.g. "What are associated tradeoffs and feedback from community?" However, no resources on softchains on SE yet so upvoting the question. – Michael Folkson Jan 1 at 16:52
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    I am still researching more about it and don't understand everything involved in softchains so preferred to link the resources for it. Will try to improve my answer in few days. Others can also answer or edit my answer. – Prayank Jan 1 at 17:03
  • Gotcha. I do similar. Better to have a draft answer up than nothing. – Michael Folkson Jan 1 at 17:15

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