There is a lot has to happen for mass adaption, many platforms, many promises especially in the enterprise domains and day-to-day applications. Some simple definitions of what these core techs are and what they bring.
Blockchain
- Well-ordered collections of block.
- Consensus driven
- Maintains history, order of transactions
- Secure, trustless, immutable
- Major enabler for DApps
Some concerns:
- Sequential processing, block size
- Can be slow for high volume transactions
- Wasteful, costly
Pegged Sidechain
- A Blockchain that validates data from other main Blockchain.
- Allows tokens from one Blockchain to be securely in a separate Blockchain.
- If required blocks can be moved back.
- Helps to extend functionality through interoperable networks allowing decentralised processing.
- Mainly help address performance and scalability concerns by enabling parallel processing of blocks.
- Allows different mining algorithms, different smart contract, block size
Two-way Peg is a mechanism by which coins are transferred between sidechains and back. Two kids of mechanism either a symmetric or asymmetric, depending on if SPV-Proof is used.
#blockchain #sidechain #interoperability
My other articles on Blockchain -
Blockchain and Analytics: Unlocking New Billing Opportunities for CSPs