Blockchain sidechain brief
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The document discusses various aspects of blockchains, including concepts like sidechains and pegged sidechains, which validate data from other main blockchains. These mechanisms enhance functionality and scalability by allowing secure token transfers and parallel processing of transactions. It highlights the trade-offs between performance and costs associated with different blockchain configurations.
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Blockchain sidechain brief
- 1. Blockchain, Sidechain, Pegged Sidechain, Two-way peg Blockchain or Main Chain • Well-ordered collections of block • Consensus driven • Maintains history, order of transactions • Secure, trustless, immutable • Major enabler for DApps • 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 Sidechain • A Blockchain that validates data from other main Blockchain. • May use a one-way peg or a two-way peg 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. #manmohanpanda #manamohanpandahttps://www.linkedin.com/in/manmohan-panda-995a925/