ramil051991
over 1 year ago  Karma: 228
How do sidechains work?

Is a sidechain still kept on every node in the ethereum network, or is it only stored on nodes that are part of that sidechain?

blockchain
sidechain
ramil051991
over 1 year ago  Karma: 228
How do sidechains work?

Is a sidechain still kept on every node in the ethereum network, or is it only stored on nodes that are part of that sidechain?

blockchain
sidechain

3 ANSWERS
beta
over 1 year ago Karma: 90

Think it is best answered here

What is a Sidechain?
The term “sidechains” was first described in the paper “Enabling Blockchain Innovations with Pegged Sidechains”, circa 2014 by Adam Back et al. The paper describes “two-way pegged sidechains”, a mechanism where by proving that you had “locked” some coins that were previously in your posession, you were allowed to move some other coins within a sidechain.

https://medium.com/loom-network/million-user-dapps-on-ethereum-an-introduction-to-application-specific-sidechains-c0fdc288c5e5

Think it is best answered here

What is a Sidechain?
The term “sidechains” was first described in the paper “Enabling Blockchain Innovations with Pegged Sidechains”, circa 2014 by Adam Back et al. The paper describes “two-way pegged sidechains”, a mechanism where by proving that you had “locked” some coins that were previously in your posession, you were allowed to move some other coins within a sidechain.

https://medium.com/loom-network/million-user-dapps-on-ethereum-an-introduction-to-application-specific-sidechains-c0fdc288c5e5

java.nobata

A side-chain is a separate block-chain that runs parallel to the main chain, for example the Bitcoin network, and is attached to the main chain through a simple two-way peg, or special 'address'. A user sends coins to this special address and this amount is effectively 'locked' out from use on the main chain and available on the side chain. This currency is released back to the main chain once its been proven that the side chain is no longer using it.

The main point of a side-chain is to allow cryptocurrency networks to scale and interact with one-another. For example alt-coins and Bitcoin run on separate chains, however side chains allow for these separate currencies to be transferred through these two-way 'portal's or interfaces via a fixed conversion amount. Added benefits of side-chains are different asset classes like,stocks, bonds etc being integrated through a converted price onto the main chain, along with additional functionality like smart contracts,unique D-Apps, micro-payments and security updates that can be later incorporated into the primary network from these side-chains.

Fairly straight-forward video: https://www.youtube.com/watch?v=7FAPVbuEZAU

Mar 13 '18 at 6:23 pm
liu.liuwei.wei
over 1 year ago Karma: 35

The other answers are totally missing the point. Loom's own article explains this well. Content is only on their own private DPoS based chain. But you could withdraw the token to mainnet.

https://medium.com/loom-network/announcing-delegatecall-com-the-first-dappchain-live-on-loom-network-f95912388a4c

The other answers are totally missing the point. Loom's own article explains this well. Content is only on their own private DPoS based chain. But you could withdraw the token to mainnet.

https://medium.com/loom-network/announcing-delegatecall-com-the-first-dappchain-live-on-loom-network-f95912388a4c

kenseikyoka
over 1 year ago Karma: 827
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