More Examples
“Sidechains can help improve transaction times for some cryptocurrencies.”
“In some cases, Bitcoin may be transferred more efficiently using sidechains.”
“A sidechain usually involves a two-way peg.”
Definition(s) from the Web
- A sidechain or pegged sidechain enables bitcoins and other ledger assets to be transferred between multiple blockchains. This gives users access to new and innovative cryptocurrency systems using the assets they already own. By reusing Bitcoin’s currency, these systems can more easily interoperate with each other and with Bitcoin, avoiding the liquidity shortages and market fluctuations associated with new currencies. Since sidechains are separate systems, technical and economic innovation is not hindered. Despite bidirectional transferability between Bitcoin and pegged sidechains, they are isolated: in the case of a cryptographic break (or malicious design) in a sidechain, the damage is entirely confined to the sidechain itself. Source
- Sidechain is a method of separating blockchains. Instead of using only primary blockchain, a user now can transfer his digital assets to a supplemented one. Source
- A sidechain is a designation for a blockchain ledger that runs in parallel to a primary blockchain. Entries from the primary blockchain (where said entries typically represent digital assets) can be linked to and from the sidechain; this allows the sidechain to otherwise operate independently of the primary blockchain (e.g., by using an alternate means of record keeping, alternate consensus algorithm, etc.). Source
