Venture Investors: Bitcoin Is Not Good Fit for Sidechain Coins Exchange
Bitcoin cannot become the safest exchange platform for sidechain coins to create and maintain a coin which is needed for venture capital investment, say industry insiders. This is despite that the quest for a coin by new startups or existing companies has increased of late. They want to use these coins to exchange revenue and cash holdings with investors who are willing to buy into firms’ ideas and financial potentials. Also, Bitcoin stands out as a plausible option to be considered to resolve the exchange issue since the sidechain allows the use of a Bitcoin-like system without going....
Related News
Blockstream has announced its first Bitcoin sidechain called Liquid, set to be launched in early 2016. The sidechain will serve payment processors and brokerages among a dozen other major traders and licensed exchanges with instantaneous and secure transactions. Months after releasing the source code of Sidechain Elements - a codebase for developers to experiment and build sidechains, Blockstream, a startup comprising of a group of core Bitcoin developers has announced the first commercial application of sidechain technology with Liquid. Blockstream, having raised $21 million in venture....
Crypti Foundation released on 23rd of December their first DApp (Decentralized App), Crypti Tokens, that allows users to issue custom tokens and to send and receive them on the Crypti Tokens sidechain. The Crypti Foundation team has grown from the original 5 members, and aims to build a Decentralized Application Platform that is useable, safe and economic, and thus falls in direct competition to the Ethereum project. They released their first DApp earlier this week, that is able to manage colored coins, but these colored coins only work on their sidechain, not on the Bitcoin blockchain.....
Each Bitcoin sidechain implementation brings about different centralization and consensus issues to weigh and consider.
Peerplays, an online gaming and wagering platform which uses open-source Blockchain technology, introduced its DAO proposal in May. After receiving feedback from DAO supporters, the platform has also decided to build a sidechain from Peerplays to Ethereum. An updated proposal was published a few days ago, offering 20% of the Peerplays earnings to The DAO in exchange for an increased valuation to cover costs associated with developing this sidechain at an accelerated pace. Peerplays might become the first startup to get support from $150 million DAO fund. The proposed price is $1.2 million....
During the first week of April, Bitcoin.com News reported on the sidechain project Smart Bitcoin Cash Project (Smartbch), as the community has been very excited about this new venture. Smartbch aims to connect Ethereum’s EVM and Web3 APIs to a smart sidechain built using the Bitcoin Cash network. On April 7, 2021, Smartbch’s lead developer Wang Kui was interviewed by Satoshi’s Angels’ cofounder Cindy Wang and he explained the many benefits Smartbch will bring to the crypto ecosystem. Smartbch: Maximizing TPS With Bitcoin Cash There are many reasons why people are....