Adam Back: Sidechains Can Replace Altcoins and 'Bitcoin 2.0' Platforms
Bitcoin sidechains could be used to replace that hundreds of altcoins and "Bitcoin 2.0" platforms that have popped up over the past few years. It's no secret that I'm not the biggest fan of altcoins, and I'll try to hold back my excitement about this new project from Adam Back, the creator of Bitcoin's proof-of-work system, and Austin Hill that could be the perfect way to finally achieve "Bitcoin 2.0". There are plenty of projects out there today, such as Mastercoin, Counterparty, BitShares, and others who are trying to create the second generation of cryptocurrencies, but these two....
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A collection of recognizable names from the Bitcoin space have teamed up under lead author Adam Back to release an official Sidechains whitepaper at Blockstream. Blockstream is the name of a new company dedicated to "working on trustless cryptographic infrastructure." The paper is available for download on the new Blockstream website. The sidechains concept first hit the public eye earlier this year when Back introduced the concept to the Bitcoin public as a replacement for altcoins and even Bitcoin 2.0 platforms. Fresh on the heels of the release of the long-awaited Sidechains whitepaper,....
SideChains. No, SideChains is not the brother of prominent rapper 2Chainz (although it could be in the future, you never know). SideChains were first announced by Adam Back and Austin Hill on Let’s Talk Bitcoin. SideChains are basically new “blockchains” pegged to bitcoin similar to how the dollar used to be pegged to gold before Nixon removed the dollar from the gold standard in 1973. In theory, each SideChain would service a different purpose however they would all benefit from the adoption and benefits of bitcoin. Proponents of sidechains hail it as the end of altcoins while alternative....
Welcome back to another Bitcoin News in Review, where we look at some of the biggest stories of the week here on CryptoCoins News. This week (19 October – 26 October), we looked at sidechains, saw IBM plan to unveil a blockchain-based “internet of things” next year, saw Circle and BitPay comment on New York’s BitLicense, and more. Check out our video and keep scrolling for our articles on this Bitcoin News in Review. Sidechains are an innovative concept first proposed earlier this year. They have the potential to replace altcoins and “Bitcoin 2.0” platforms. Essentially, sidechains make it....
Bitcoin Knowledge Podcast host Trace Mayer interviewed legendary cryptographer Adam Back on his role in the creation and deployment of some of the most potent privacy software to ever affect the world of Bitcoin. A transcript of the podcast is published in We Use Coins. Trace Mayer is an entrepreneur, investor, journalist, an expert on the Austrian School of economic thought of Murray Rothbard and Ludwig von Mises, and a staunch defender of freedom of speech. Adam Back is the inventor of Hashcash, the proof-of-work system used by Bitcoin and other cryptocurrencies as part of the mining....
Open source bitcoin startup Blockstream, notable for its foray into developing sidechains for the bitcoin blockchain will now see a CEO at its helm. In a recent announcement, Blockstream revealed a unanimous decision by the company’s board of director that saw Blockstream co-founder Adam Back become CEO of the company. Back held the role of President before his new position and has also operated as the chief operating officer in the past. Blockstream revealed outgoing CEO Austin Hill will “pursue other opportunities” and has also stepped down from the board. A prominent academic in the....