Hey Mercrcurr! Thanks for the great question!

Drivechain is madeup of two BIPs (BIP300 + BIP301). Drivechain enables a two way trustless peg to enable merge mined peer-2-peer bitcoin sidechains. Drivechain would allow bitcoin users more functionality (e.g. scalable payments sidechain, private transactions sidechain, and smart contracts sidechain) by cloning useful altcoin technologies such as Monero, Z-cash, Ethereum, etc to a bitcoin sidechain. Drivechain would allow miners to earn revenue from sidechain transaction fees helping increase the security budget of the bitcoin network.

Blockstream released a white paper on 'Sidechains' in 2014. An independent bitcoin researcher, Paul Sztorc starting blogging about his sidechain proposal idea in 2015. In late 2022, Paul Sztorc formed LayerTwo Labs and raised $3 million to raise awareness of this idea. Luke Jr was paid by LayerTwo Labs to write a copy of BIP300 Pull Request in August of 2023 to Bitcoin Core on Github. Hence, the recent discussions of Drivechain on Twitter and Nostr. d

http://Drivechain.info (Paul's blog)

http://LayerTwoLabs.com/FAQ (our site)

http://Drivechain.xyz (a fan site)