Op Ed: The Value of Sidechains and Leveraging Their Potential

Op Ed: The Value of Sidechains and Leveraging Their Potential

Since Bitcoin’s launch in 2009, there has been a growing interest in tapping the potential of decentralized cryptocurrencies. However, any modifications to the consensus layer, the critical part of any cryptocurrency, must be handled with caution. Compared to other internet protocols, this makes it harder for Bitcoin to adopt new features and meet new demands. This is why sidechain technology has been proposed: It allows for the transfer of digital assets, including bitcoin, across different blockchains. While most cryptocurrencies are incompatible, assets are not interchangeable; “fusion”....


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Quotes

The early days of the internet was like this scary thing, all gambling, and porn and you couldn't even transact on there. And then nice walled gardens came along and made everyone quite comfortable with it, which may be like banks and financial institutions are doing now. But it kind of misses the point. The idea of the web and the internet is supposed to be open to everyone.

Paul Gordon, CEO of Quantave