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An Overview Of The Tradeoffs For Different Sidechain Implementations

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Each Bitcoin sidechain implementation brings about different centralization and consensus issues to weigh and consider.

This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host.

This article is the last in a series diving into the major sidechain designs that exist for Bitcoin. It is highly recommended to read the preceding pieces before this: (1) Spacechains, (2) Spacechain Use Cases, (3) Softchains, (4) Drivechains, (5) Federated Chains.  Read more...

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Drivechains Allow Sidechain Node Operators To Pay Miners To Mine — And More!

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Drivechains, like softchains, are another sidechain implementation with two-way peg functionality.

This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host.

This time I’m going to be breaking down and discussing how drivechains work; they were initially proposed in 2015. Out of all the proposals discussed so far, drivechains are the oldest and the most fleshed out in terms of specific implementation details and design, documented in BIPs 300 and 301. Paul Sztorc, the creator of the concept, had a few chief design goals in mind, and while this is not at all comprehensive, here are a few:  Read more...

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Without a True Two-Way Peg No ‘Real’ Sidechain Exists, Says Drivechain Creator

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On April 17, the founder of the Drivechain project, Paul Sztorc, published a new blog post concerning the validity of today’s so-called ‘production sidechains.’ Sztorc has declared on multiple occasions that true sidechain technology hasn’t been invented yet and even Blockstream’s Liquid protocol, dubbed “the first production sidechain,” in a critical sense is not a ‘real’ sidechain.

Also read: Statistics Show Bitcoin Cash Is a Strong Contender After Crypto Winter  Read more...

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RSK Sidechain Is Now Secured by 45% of BTC’s Hashrate

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RSK Sidechain Is Now Secured by 45% of BTC's Network Hashrate

On Feb. 14, the cryptocurrency infrastructure organization led by RSK Labs announced the one-year anniversary of the RSK network and highlighted several notable achievements. Over the last 12 months, the project’s merge mining has managed to gather 45 percent of the Bitcoin Core (BTC) network hashrate, making the RSK smart contract system more secure than most blockchains.

Also Read: Bitcoin’s Social Contract Must Be Resilient to the Whims of Future Generations  Read more...

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Blockstream Launches Liquid Network, the World’s First Bitcoin (BTC) Sidechain

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Blockstream, a leading provider of blockchain technologies, announced the launch of the Liquid Network, the first-ever Bitcoin (BTC) sidechain designed to provides fast, secure, and confidential transactions for major financial institutions, exchanges and market makers. The @Blockstream team is excited to announce the #LiquidNetwork is now live with 23 members! Liquid enables fast, secure, and confidential transactions, […]
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Blockstream’s Bitcoin Sidechain, ‘Liquid Network,’ Goes Live

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Blockstream on Wednesday announced that Liquid Network — its first Bitcoin sidechain — is now online. This announcement comes after more than a year of beta testing the sidechain on the core Bitcoin network.

Liquid Network Goes Live

The San Francisco-based Blockstream announced the news via a blog post on the startup’s website. According to the company, Liquid ensures speedy and secure transactions suited to the specific needs of high trading volume entities like brokers, exchange platforms, and financial institutions.  Read more...

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‘Liquid Network’: Blockstream’s Bitcoin Sidechain is Now Live

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bitcoin sidechain liquid network blockstreamSamson Mow, chief strategy officer at Blockstream, announced today that the blockchain startup has launched the Liquid Network, a Bitcoin sidechain. Liquid is, as described by the company, “an innovative sidechain built on the Bitcoin network, facilitating faster bitcoin transactions between businesses and individuals, while enabling extended functionality.” The main purpose for the technology is

The post ‘Liquid Network’: Blockstream’s Bitcoin Sidechain is Now Live appeared first on CCN

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Blockstream Sidechain Projects Will Speed Up Bitcoin ETF

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Blockstream Sidechain Projects Will Speed Up Bitcoin ETF

Bitcoin side projects could speed up Bitcoin ETF, according to Samson Mow, the CSO of Blockstream.

In a recent interview, Samson spoke about the general state of Bitcoin, while also providing price predictions and his thoughts on a potential timeline for Bitcoin ETF approval.

Samson took the viewpoint that investors tend to look at Bitcoin from the perspective of the consumer – essentially, as an asset to buy or sell. However, he believes that Bitcoin should be viewed as more of a “communication protocol” in the vein of TCP/IP which is currently used by the internet, adding that there were a lot of possibilities for Bitcoin when viewed in this manner.  Read more...

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SaffronCoin’s PeerMarket Not To Be Built on OpenBazaar, SFRDirect By End of September

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To start off the day, during which we’ll really have to scrape together some content because there is not too much happening it seems, I want to tell you about SaffronCoin’s latest announcement. It has to do with their PeerMarket platform, so let’s take a look!

As you may know, the open source OpenBazaar platform would be an excellent way to build your own cryptocurrency marketplace. However, the SFR team decided against it, as they want to be unique. PeerMarket will be built as an asset , and it will aso have a great user interface like OpenBazaar does, but it will be something completely different.  Read more...

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Karma To Become First Digital Currency With A Working Sidechain, Switch To X11

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There are some big changes coming to Karma, a digital currency we talked about in a very recent article which you can find here. Ever since the rebrand from KarmaCoin to Karma occurred, the team has been pushing hard to make the coin a success.

Karma will be hard forked in order to implement an improved hashing method, X11. On top of that, this hard fork will also bring automatic checkpointing (prevents transaction rollbacks), time warp limitation (protection from difficulty adjustment attacks) and Nite’s Gravity Well (prevents multipool abuse).  Read more...

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