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.

Let me explain. The Lightning Network allows for the creation of “micropayment channels” across which multiple Bitcoin transactions can be securely performed without interacting with the blockchain, except for the initial transaction that initiates the channel. There is no counterparty risk: if any party ceases to cooperate, and/or does not respond within an agreed-on time limit, the channel can be closed and all its outstanding transactions kicked up to the blockchain to be settled there.
A typical use case for a private blockchain is intra-business: when a company decides to implement blockchain as a business solution, they may opt for a chain to which only company members have access. This is useful if there’s no need for anybody outside of the company to become part of the chain, because private blockchains are more efficient than public and consortium chains. Also, because they are smaller and contained, it is easier for a consensus process or other technical stipulation to be altered on a blockchain. So, for example, if the developers or proprietors want to change the cryptographic method which runs its consensus process, it is much easier to do this on a private blockchain than a public or consortium chain.

Blockchain technology can be used to create a permanent, public, transparent ledger system for compiling data on sales, tracking digital use and payments to content creators, such as wireless users [65] or musicians.[66] In 2017, IBM partnered with ASCAP and PRS for Music to adopt blockchain technology in music distribution.[67] Imogen Heap's Mycelia service has also been proposed as blockchain-based alternative "that gives artists more control over how their songs and associated data circulate among fans and other musicians."[68][69] Everledger is one of the inaugural clients of IBM's blockchain-based tracking service.[70]
Private blockchains, or as I like to call them, shared databases, have a place in improving efficiency for financial institution for back-office settlement processes. They should not be seen as controversial, or part of some dialectic struggle between punks and police. To the extent that the identifying shroud of AML/KYC can be placed into public blockchain metadata (possible in Omni Layer transactions over the Bitcoin blockchain) there may even be interoperability between these two sides of the train tracks. Right now, due to state-granted monopolies to issue credit, most of the world's liquidity is still in banks. However, we believe that in the long-term, public blockchains, especially those based on work, will come to take a more significant part in the ‘System D’ informal economy, which is where most of the global economic growth will originate.” 
My chief concern is not with the concept of side chains per se (yet). I have still much to learn about how they are being considered. I am only concerned with the way the concept is being presented here. However, I am sure that much of this was due to space restrictions as much as anything. The concept of side chains is an intriguing one. It is also clearly attempting to address a major problem with the whole Bitcoin scheme- namely the verification latency it introduces for transactions. This is only one of the hurdles facing Bitcoins acceptance into the world of commerce, but it is a considerable one.
An important distinction to be made about sidechains that needs to be understood is that sidechains themselves help to fuel innovation through experimentation. Rather than providing scalability directly, they allow for trivial experimentation on sidechains with various scalability mechanisms. Using sidechains, one can avoid the problems of initial distribution, market volatility, and barriers to entry when experimenting with altcoins due to the inherent derivation of their scarcity and supply from Bitcoin. That being said, each sidechain is independent and flexible to tool around with various features.
Sidechains offer a way for new, more radical settings and technologies to be implemented without affecting the main chain. This ensures that the main chain is as secure as possible whilst providing the freedom to explore options which would never be considered for use on the main chain. Sidechains should be quite powerful as they provide cases like anonymity, transparency, confirmation times and turing complete options like rootstock all whilst utilizing bitcoins rather than relying on the hashing power (security) of some far less secure alt coin. That being said… there is quite some controvery regarding blockstream’s funding of most of the core development team and their inflexiblity regarding the max blocksize. This inflexibility has directly contributed to the success of ethereum and it remains to be seen whether the dream of bitcoin maximalism will survive long enough for sidechains with all of the promised functionality to be rolled out. I am skeptical.

Bitcoin and other cryptocurrencies currently secure their blockchain by requiring new entries to include a proof of work. To prolong the blockchain, bitcoin uses Hashcash puzzles. While Hashcash was designed in 1997 by Adam Back, the original idea was first proposed by Cynthia Dwork and Moni Naor and Eli Ponyatovski in their 1992 paper "Pricing via Processing or Combatting Junk Mail".
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Ethereum, a provider of decentralized platform and programming language that helps running smart contracts and allows developers to publish distributed applications. Factom, a provider of records management, record business process for business and governments. Blockstream, a provider of sidechain technology, focused on extending capabilities of Bitcoin. The company has started experimenting on providing accounting (considered a function to be done on private blockchain) with the use of public blockchain technology.
^ Jump up to: a b c d e f g h i j k l "Blockchains: The great chain of being sure about things". The Economist. 31 October 2015. Archived from the original on 3 July 2016. Retrieved 18 June 2016. The technology behind bitcoin lets people who do not know or trust each other build a dependable ledger. This has implications far beyond the crypto currency.
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.
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