What’s the Deal With Sidechains?

sidechainsIf you’re a digital currency fan, then chances are at some point you’ve heard about sidechains. While they are not popular yet, sidechains allow cryptocurrency users to utilize their coins for various purposes on different blockchains, without having to purchase the afferent tokens or develop an entirely new digital currency. A mental model To put things into perspective, it is important to understand the 3 main steps of a bitcoin transaction, these being: The following X coins need to be moved. The proof of ownership consists of the public and private keys to a specific bitcoin address. To use the coins, the recipient must fulfill

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