Federated Sidechains Are Bitcoin’s Original Upgradeable Sidechain Implementation
Federated sidechains utilize key management to provide security and allow functionality beyond the Bitcoin mainchain.This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host.Federated sidechains are currently the only deployed type of Bitcoin sidechain (the most recent paper here). The idea of using a federated peg and consensus system was actually an appendix in the original sidechains whitepaper. There was no concrete design for any type of two-way peg involving miners, so a federated peg was described as a way to deploy....
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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.
Blockstream has released a whitepaper detailing the Strong Federations system, the foundation for the Liquid sidechain project to improve privacy, costs, speed of value transfers and settlement among exchanges and brokerages. ‘An Interoperable Blockchain Solution’. Under the leadership of Adam Back, Blockstream has released a whitepaper dubbed “Strong Federations: An Interoperable Blockchain Solution to Centralized Third Party Risks.” The whitepaper delves into the intricacies of the federated pegs system that can be used to attach sidechains to Bitcoin. Although Blockstream has talked....
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....
Blockstream has been working on projects to extend Bitcoin for quite some time. It is one of a few such companies that believe that the block chain, and Bitcoin more generally, can be extended beyond its current abilities, and that experiments can take place which later on could benefit Bitcoin itself. One of its long-awaited projects has now been released to the community, Sidechain Elements. This project essentially serves as a codebase for sidechain developers to build sidechains. The burning question is: what is a sidechain? A sidechain is pretty much an alt coin without the alt, an....