Ripple publishes proposal for federated sidechains to keep main ledger lean
In lieu of expanding the main ledger's functionality, Ripple's developers argue that using federated sidechains will help preserve the blockchain's leanness and efficiency for payments. Ripple's developers have been engaging with feedback and suggestions that they expand the XRP Ledger, or XRPL, to integrate functionalities such as smart contracts. The latter have become a major feature of the booming decentralized finance space, but Ripple's creators claim that a different solution is better for the payments-focused XRPL.This solution comes in the form of what they term “federated....
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Federated sidechains utilize key management to provide security and allow functionality beyond the Bitcoin mainchain.
In this episode of The Van Wirdum Sjorsnado, hosts Aaron van Wirdum and Sjors Provoost discuss RSK’s shift from a federated sidechain model to the project’s new Powpeg solution. The post Video: RSK, Federated Sidechains And Powpeg appeared first on Bitcoin Magazine.
Most people in the Bitcoin community know Paul Sztorc for his work on the Truthcoin concept (now backed by Roger Ver and currently in development as Bitcoin Hivemind), but the former Yale statistician also recently joined blockchain startup Bloq (of which Bitcoin Core contributor Jeff Garzik is a co-founder) under the role of economist. In a recent message to the Bitcoin development mailing list, Sztorc attempted to jump-start the conversation on a potential BIP (Bitcoin Improvement Proposal) to enable two-way pegged sidechains on the Bitcoin network. Sztorc noted the inclusion of a new....
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 first two waves of the XRPL grant have offered $6 million in funding to 50 open source projects built on the XRP ledger. Ripple, the enterprise payment technology company, plans to give out one billion XRP in grants for developers. The newly announced grant is an extension of the company’s XRPL Grants program launched in 2021.The developer grant would be focused on encouraging open-source projects on the XRP ledger, built for enterprise remittance assistance. Ripple has built a strong foothold in the Asia Pacific region through its XRPL based remittance technology called....