THE SIDECHAIN WILL IMPROVE THE CRYPTON
SYSTEM
By Alex Vallenilla / @alexvallenilla
The success of cryptocurrencies is not in their
prices, which until now have behaved as in any other asset, in a speculative
way and as this market is still small, there is high volatility. The usefulness
of the tokens and the complex of each development in each project is what
counts. What can people do with cryptocurrencies, beyond speculating with their
amounts or doing mining. Impressive the development of Blockstream.
News as the advances of the
"sidechain" or the side chain, a complement of the blockchain,
development that is in beta phase that promises substantial changes in the use
of this technology. Still the world is not totally involved in this and already
the advances impress and is that the operations outside the chain become a
bitcoin resource that will help to consolidate and keep this cryptocurrency in
full operation, to make it more interesting, more stable and much more useful,
the benefits of operations with the side chain for micro payments and
commissions reduced to 1 satoshi, in addition to the impressive speed at which
they occur, are a powerful resource that will allow to disseminate much more
the use of these means of payment in the daily life of the human being, which
means interesting changes in the social, political and economic performance of
the world.
This resource allows improving privacy,
employing smart contracts and confidential transactions, admits that bictoin
and other digital assets are transferred between block chains, producing a very
innovative new platform.
With this development, linking two block chains
will be interesting since their bidirectional use will allow the exchange
between chains to be at fixed or determined rates, an asset may pass from one
chain to another and be returned. With the sidechain it will be possible to
support extensions of different types of assets, such as stocks, bonds,
derivatives, in addition to establishing security identifiers, real-world
property registers, smart contracts, which can be transferred with better
performance and protection of the Privacy.
This is just beginning, the chain of blocks
came to change everything, to impose new paradigms and patterns, which will
define the new directions, the application of side chains or
"sidechain", will introduce a substantial change in the way they
currently operate in the world with cryptocurrencies. 06/27/2018
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