Sidechains White Paper Imagines New Future for Digital Currency Development
A group of bitcoin core developers and cryptographic technology experts have released a new proposal that could reshape the digital currency ecosystem if implemented. The sidechains concept has long been argued as a solution to what many see as a volatile and self-damaging sector of the cryptocurrency ecosystem. Described by some as the "altcoin killer", sidechains allow for the creation of multi-block chain ecosystems in which assets can be exchanged and transferred. The paper's authors consist of a broad team of digital currency researchers and developers - including Adam Back, Pieter....
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The authors of the much-discussed Bitcoin Sidechains paper "Enabling Blockchain Innovations with Pegged Sidechains," released in October, formed the company Blockstream to implement sidechains and accelerate innovation in digital currencies. In November, Blockstream closed a $21 million seed funding round with nearly 40 high-profile investors. The Bitcoin Sidechains paper envisages an ecosystem of "sidechains" separate from the main Bitcoin blockchain but interoperable with it by means of two-way pegs, allowing for the transfer of assets between sidechains and the main blockchain. A....
The authors of the much-discussed Bitcoin Sidechains paper "Enabling Blockchain Innovations with Pegged Sidechains," released in October, have formed the company Blockstream to develop new ways to accelerate innovation in digital currencies, open assets and smart contracts. In November, Blockstream closed a $21 million seed funding round with nearly 40 investors, including well-known pioneers of the Internet and financial services sectors. The Bitcoin Sidechains paper envisages an ecosystem of "sidechains" separate from the main Bitcoin blockchain but interoperable with it. A sidechain can....
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....
The seminal Bitcoin sidechains white paper “Enabling Blockchain Innovations with Pegged Sidechains,” released in 2014 by a team that went on to form Blockstream, a leading company in the blockchain space, envisaged an ecosystem of “sidechains” separate from the main Bitcoin blockchain but interoperable with it via peg mechanisms. A sidechain can carry bitcoin as currency, in which case users will be able to seamlessly transfer bitcoin between the sidechain and the main blockchain. A sidechain can implement more powerful scripting features or more watertight privacy. Increased throughput is....
Thomson Reuters has published a white paper detailing the challenge for law enforcement with digital currencies and how they can be used for money laundering. The paper is mainly an educational article and serves as an introduction to the problem of money laundering and digital currencies. The paper starts by quoting the Financial Action Task Force (FATF), which is an international group involving 36 countries that money laundering is at the level of between two and five percent of global GDP, i.e. $1.38 trillion to $3.45 trillion. This is a rough estimate as, by the definition of the....