Bitcoin blockchain design has been done for a specific purpose, and this is a money (crypto currency) transfer. But what will we do, if we want to change or add some functions of the bitcoin blockchain? What if we want to transfer other assets rather than money, what if we want to do transactions automatically when pre-determined events occurred. Or what if we don't want other people see our transactions, or track our transactions' history. You can ask countless of what if questions and every answer to these questions drive you to a different blockchain or configurations
Miners are needed to ensure the safety of the sidechains. This makes the formation of new sidechains a costly venture. Hefty amounts of investments have to be made before any new sidechain can be created. Another downside to sidechains is the requirement of a federation. The extra layer formed by the federation could prove to be a weak point for attackers.
Eris Industries, aims to be the provider of shared software database using blockchain technology. Blockstack, aims to provide financial institutions back office operations, including clearing & settlement on a private blockchain. Multichain, provider an open source distributed database for financial transactions. Chain Inc., a provider of blockchain API's. Chain partnered with Nasdaq OMX Group Inc., to provide a platform that enables trading private company shares with the blockchain.
Private institutions like banks realized that they could use the core idea of blockchain as a distributed ledger technology (DLT), and create a permissioned blockchain (private or federated), where the validator is a member of a consortium or separate legal entities of the same organization. The term blockchain in the context of permissioned private ledger is highly controversial and disputed. This is why the term distributed ledger technologies emerged as a more general term.
These kinds of blockchains are forks of the original implementations but deployed in a permissioned manner. Mainly hyped because the companies behind these chains want to onboard corporations in order to generate buzz around their their chain. It’s tolerable for proof of concepts or if they plan to move to public as soon as possible; otherwise they are just using the wrong set of tools for the job.
2. Ardor’s Blockchain as a service platform for business: Ardor uses the Proof of Stake consensus mechanism. Ardor calls its sidechains ‘childchains’, and they are tightly integrated into the main chain. Security is enhanced because all transactions are processed and secured by parent chain forgers. Most transactions are pushed down to the childchain level, as the parent mainchain retains minimal features. Global entities such as assets and currencies across chains can be accessed through childchains.
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A sidechain is a separate blockchain that is attached to its parent blockchain using a two-way peg. The two-way peg enables interchangeability of assets at a predetermined rate between the parent blockchain and the sidechain. The original blockchain is usually referred to as the ‘main chain’ and all additional blockchains are referred to as ‘sidechains’. The blockchain platform Ardor refers to its sidechains as ‘childchains’.
“A private blockchain is hardly different from a traditional database. The term is synonymous with glorified databases. But the advantage is that if they are to ever start adding public nodes to it then it becomes so much more. An open blockchain is the best method for having a trustless ledger. The broader the range of decentralized adoption the better. The Bitcoin blockchain hits all those points. 
So, there is a kind of centralized authority that decides who has a right to contribute to and to audit the network. What is more – it’s possible to restrict viewing information stored on private blockchains. It might seem that in such conditions, a blockchain is no longer the blockchain as it lacks transparency and decentralization. Well, these remarks are fair, but only when the network is estimated from the outside. Within it, the rules remain the same as for public networks: it is still transparent for all the members.
Walmart recently filed patents that could allow the retailer to store vendor and consumer e-commerce payment data using blockchain technology to improve security. This application would encrypt payment information in digital shopping systems and create a network able to automatically conduct transactions on behalf of a customer. The payments would be received by one vendor or more, depending on the services and who provided them.
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Consider a proof-of-existence application, where you want to authenticate your document in the Ethereum (for example) network, but you do not need your document to be online. So, you will store the hash generated from your document in the blockchain, but the document itself will be in your local machine, out of any blockchain-related structured, being off-chain.
This type of blockchains can be considered a middle-ground for companies that are interested in the blockchain technology in general but are not comfortable with a level of control offered by public networks. Typically, they seek to incorporate blockchain into their accounting and record-keeping procedures without sacrificing autonomy and running the risk of exposing sensitive data to the public internet.
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Blockchain-based smart contracts are proposed contracts that could be partially or fully executed or enforced without human interaction.[55] One of the main objectives of a smart contract is automated escrow. An IMF staff discussion reported that smart contracts based on blockchain technology might reduce moral hazards and optimize the use of contracts in general. But "no viable smart contract systems have yet emerged." Due to the lack of widespread use their legal status is unclear.[56]
Miners are needed to ensure the safety of the sidechains. This makes the formation of new sidechains a costly venture. Hefty amounts of investments have to be made before any new sidechain can be created. Another downside to sidechains is the requirement of a federation. The extra layer formed by the federation could prove to be a weak point for attackers.
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“Not only is decentralization, open protocols, open source, collaborative development and living in the wild a feature of Bitcoin, that’s the whole point. And if you take a permissioned ledger and say, that’s all nice, we like the database part of it, can we have it without the open decentralized P2P [peer-to-peer] open source non-controlled distributed nature of it, well you just threw out the baby with the bathwater.” 

As you can see, several of these real-world demands for the evolution of the initial Bitcoin implementation are still highly relevant. Trade-offs between scalability and decentralization are demonstrated with Ethereum’s focus on decentralization first and resulting complexities in developing scalable solutions. The increased emphasis on smart contract functionality, pegging real-world assets to blockchains, and experimentation of altcoins that are currently ongoing also represent the forward-thinking ideas outlined in the paper.

Governance: Every enterprise needs to design standards, processes, methods, and tools to develop and operate a private blockchain. To achieve this they will need tools and frameworks such as IDE, testing framework, security auditing tool etc. For long-term successful operation, they also need to develop high-quality documentation. This requires proactive governance. Read more about the importance of the “Fundamental challenges with public blockchains” here.
Loom Network is a Platform as a Service built on top of Ethereum that allows developers to run large-scale decentralized applications. This lets developers build DApps with the trust and security of the world’s most secure public blockchain, along with the computing resources necessary to run commercial-scale services. Like how Filecoin tokenized disk space, Loom aims to be the tokenized application protocol of the new decentralized web.
There are many critics of payment channels. Finding the quickest path between unconnected nodes is no trivial exercise. This is a classic “traveling salesman” problem that has been worked on by top computer scientists for decades. Critics argue that it is highly unlikely payment channels like Bitcoin’s Lightning and Ethereum’s Raiden will work as expected in practice due to complexities like the traveling salesman problem. The key for you is just to know that these projects and potential solutions to blockchain scalability issues exist. Many of the smartest minds in the industry are working actively to bring them to life.
Sidechains interactuando con blockchain. Blockstream explica en su paper como, a las sidechains, se les añade una nueva pieza llamada two-way peg. Two-way peg es “el conector” entre ambas cadenas y se encarga de hacer la “magia” para que los bitcoins “salten” a la otra cadena. Juntando ambas cosas obtenemos las pegged sidechain: cadenas laterales conectadas en todo momento. En la imagen puedes observar como, incluso, las sidechain pueden interactuar entre ellas. ¿Llegaremos a un escenario de blockchains interactuando con aspecto fractal?
Jump up ^ Epstein, Jim (6 May 2016). "Is Blockchain Technology a Trojan Horse Behind Wall Street's Walled Garden?". Reason. Archived from the original on 8 July 2016. Retrieved 29 June 2016. mainstream misgivings about working with a system that's open for anyone to use. Many banks are partnering with companies building so-called private blockchains that mimic some aspects of Bitcoin's architecture except they're designed to be closed off and accessible only to chosen parties. ... [but some believe] that open and permission-less blockchains will ultimately prevail even in the banking sector simply because they're more efficient.

Transparency does not, however, mean that public blockchains are completely unhackable. Any time data enters a digital network, it is subject to security breaches and unethical uses. Although public blockchains looks to be highly secure right now, there are always going to be bad actors interested in exploiting weaknesses in the system. This is often through hacking methods that are difficult to predict and account for — so claims of one-hundred-percent security in any technology should always be read with a critical eye
Jump up ^ Iansiti, Marco; Lakhani, Karim R. (January 2017). "The Truth About Blockchain". Harvard Business Review. Harvard University. Archived from the original on 18 January 2017. Retrieved 17 January 2017. The technology at the heart of bitcoin and other virtual currencies, blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.
Congratulations! You’ve just educated yourself on the most common advanced topics in blockchain that you’ll hear about. By understanding these concepts, you have a firmer grasp on the fundamental tradeoffs and latest research on the blockchain than most industry “experts”! Better yet, next time you hear your colleagues around the water cooler talking about state channels, the Lightning Network and Byzantine fault tolerance, not only will you know what they’re talking about but you might be able to teach them a thing or two!
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