The Loom Network recently released their SDK which supports what they call “Dappchains,” an Ethereum layer-2 sidechain solution with each sidechain comprised of their own DPoS consensus mechanism. This enables highly scalable dapps, specifically games built using their tools. Loom emphasizes the earlier comment about sidechains enabling innovation in scalability, rather than providing it directly. Loom’s sidechains have their own set of rules and are used to offload computation from the primary Ethereum chain. Their sidechains are application-specific, meaning that they enable highly scalable dapps through an efficient consensus mechanism and can periodically be settled on the main Ethereum chain depending on their security needs. You can find more information on their model here.
Tú, o el usuario en cuestión de las sidechains, envía los bitcoins a una dirección Bitcoin específica, sabiendo que, una vez mandados, estarán fuera de tu control y fuera del control de cualquier otra persona. Estarán completamente inmovilizados y sólo se podrán desbloquear si alguien puede demostrar que no se están utilizando en ningún otro lugar.
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.

Bitcoin and Ethereum blockchains use the ‘proof of work’ (POW) consensus algorithm to provide maximum security. It relies on a process called ‘mining’, which involves nodes trying to find the cryptographic hash of the last recorded block in order to create a new block. This is a massive number-crunching operation. It’s computing-power and energy-intensive, and becomes increasingly costly as the blockchain length grows. Read more about POW in this article “Proof of work vs proof of stake comparison”. This makes such blockchains impractical in a large business context.

I have a hard time swallowing that Bitcoin “isn’t a ledger”. That’s like saying “Bitcoin isn’t the blockchain”, and if you take the blockchain away from Bitcoin, you aren’t really left with much (including, sidechains). Perhaps Bitcoin isn’t a ledger *from the perspective* of individual transactions, but by the same logic, nothing that isn’t transaction data is.

The NPD report noted IBM is partnering with nine retailers and food companies (Walmart, Unilever, Nestle, Dole, Tyson Foods, Golden State Foods, McCormick & Co., McLane Co., and Driscoll’s) to revamp data management processes with blockchain. Walmart uses blockchain in China to source its pork all the way from the pig to the customer. This enables the retailers to provide transparency to all the players along the supply chain.


Public blockchains are just that, public. Anyone that wants to read, write, or join a public blockchain can do so. Public chains are decentralized meaning no one body has control over the network, ensuring the data can’t be changed once validated on the blockchain. Simply meaning, anyone, anywhere, can use a public blockchain to input transactions and data as long as they are connected to the network.
2) Yes – I had to keep things short/simple in this intro article in order to get across the key ideas. But you’re right: the sidechains need to be secured. But how that happens is a matter for the sidechain. If somebody can produce a false “proof” that the locked Bitcoins should be released on the Bitcoin side then that’s a problem for the sidechain, of course (somebody presumably just had their coins stolen!) but it’s irrelevant (at a macro level) on the Bitcoin side.
However, the Lightning Network would, again, require a change to the existing Bitcoin protocol. (Though again it would be a “soft fork,” i.e. the existing blockchain would remain fully valid.) And/or — you guessed it — a Lightning sidechain. What’s more, one of the changes it requires, the elimination of transaction malleability, is handled by the Segregated Witness work in Sidechain Elements. (correction: all of of the changes required are incorporated into Elements Alpha — it’s Lightning-ready out of the box.)
Incorporated in 2009 and headquartered in the USA, Techtic Solutions Inc. is an leading web and mobile app development company known for delivering innovative solutions for any complex problem. Our mission remains the same; “PRODUCE UNPARALLELED TECH ENABLED SOLUTIONS BENCHMARKING LATEST TECHNOLOGY STANDARDS” Facts & Figures: A service provider in over 30 countries with offices in: USA & India 250+ mobile applicatio ... Read more
If you want a deeper look at Proof of Stake check out our detailed POS post. In short, while Proof of Work is an effective mechanism to secure the blockchain and provides a trustless consensus paradigm, it’s extremely energy intensive because of all the computing power required to solve hash problems. Also, while it was meant to be decentralized, it’s actually becoming more centralized as miners consolidate and massive mining setups eat up larger shares of winning blocks.
However, the Lightning Network would, again, require a change to the existing Bitcoin protocol. (Though again it would be a “soft fork,” i.e. the existing blockchain would remain fully valid.) And/or — you guessed it — a Lightning sidechain. What’s more, one of the changes it requires, the elimination of transaction malleability, is handled by the Segregated Witness work in Sidechain Elements. (correction: all of of the changes required are incorporated into Elements Alpha — it’s Lightning-ready out of the box.)

Blockchain, trust, decentralization, Bitcoin, transparency, anonymity, blockchain, blockchain, blockchain. These words seem to appear randomly on the Web regardless the theme of an article you read. Don’t you know how to implement blockchain in art? There’s definitely someone who can tell you. Do you wonder how banking can benefit from blockchain? No worries, some projects already do it – just search for the use cases.
Terasol's mission is to create apps that would help people learn and grow with tech. Every member of Terasol shares the same dream of working towards building apps that would not only create history but also give people the opportunity of experiencing tech they did not know could become essential part of their lives. A lot has changed since we developed our first app; we have grown with each project and refined our skills to serve nothin ... Read more
Byzantine fault tolerance (BFT) is what keeps the blockchain fundamentally secure. For simplicity, let’s say there were 100 nodes in a blockchain network (there are currently about 10,500 full Bitcoin nodes in the world). What happens when one node wants to tamper with the latest block and say other Bitcoin users sent him a whole bunch of Bitcoin when they really didn’t?
But, rather than go back to the drawing board, many people are figuring out alternative way to eke better performance outbid the system, and one approach is to use a sidechain.. sonrsther than process many transactions on the bitcoin network, two parties that transact a lot together might deposit down bitcoin into a side chain and conduct a bunch of transactions there (avoiding the absurd cost and delay of bitcoin) and then when they want to “settle up” they then invoke a balancing transaction on the bitcoin network.
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.

Dears, Our company during 12+ years on the IT market actively provide web & mobile software solutions. Till now, we’ve successfully completed almost 200 custom software solutions for companies from North America, Europe, Asia, and Australia. So, we are always open for new challenges! At all, we are really good at cyber security solutions, web & mobile development and DevOps services. As well, our core expertise inclu ... Read more
It doesn’t matter if you’re moving $1bn or 0.01c across the Bitcoin network, you get the same security guarantees.   And you pay for this in fees and time.   What if you were prepared to trade safety for speed?   Today, your only real option is to send the coins to a centralized wallet provider, whom you must trust not to lose or steal your coins. You can then do all the transactions you like on their books, with their other customers and you never need touch the Bitcoin blockchain. But now you lose all the benefits of a decentralized value-transfer network.
State of the art public Blockchain protocols based on Proof of Work (PoW) consensus algorithms are open source and not permissioned. Anyone can participate, without permission. (1) Anyone can download the code and start running a public node on their local device, validating transactions in the network, thus participating in the consensus process – the process for determining what blocks get added to the chain and what the current state is. (2) Anyone in the world can send transactions through the network and expect to see them included in the blockchain if they are valid. (3) Anyone can read transaction on the public block explorer. Transactions are transparent, but anonymous/pseudonumous.
Decentralization and distribution are seen by many to be a major benefit of public blockchains, but not everybody shares this ethos. But this is not the only benefit of public blockchains, of course. Perhaps most importantly, their transparency makes them very secure: because they can be audited by anybody, it is easy to detect fraud on the chain. Security-via-openness is a principle well known in the open source world, and this strategy is also popular among some in the digital currency community. For example, all of the tools and content produced by the Ethereum team is open source. This helps to make Ethereum widely accessible and more secure.

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.
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.
^ Jump up to: a b c d Bhaskar, Nirupama Devi; Chuen, David Lee Kuo (2015). "3 – Bitcoin Mining Technology". In Cheun, David Lee Kuo. Handbook of Digital Currency: Bitcoin, Innovation, Financial Instruments, and Big Data. Academic Press. pp. 47–51. ISBN 978-0-12-802117-0. Archived from the original on 25 October 2016. Retrieved 2 December 2016 – via ScienceDirect.

First of all, one should not confuse private and public blockchains. They have one obvious similarity – they are blockchains, decentralized networks. Every participant of the network keeps a copy of this shared ledger, and all these copies are kept sync with the help of a certain consensus protocol. It means that all the participants of the network have access to identical information. Also, all the networks are immutable, and the information they contain can’t be altered.

Sometimes separate blocks can be produced concurrently, creating a temporary fork. In addition to a secure hash-based history, any blockchain has a specified algorithm for scoring different versions of the history so that one with a higher value can be selected over others. Blocks not selected for inclusion in the chain are called orphan blocks.[22] Peers supporting the database have different versions of the history from time to time. They keep only the highest-scoring version of the database known to them. Whenever a peer receives a higher-scoring version (usually the old version with a single new block added) they extend or overwrite their own database and retransmit the improvement to their peers. There is never an absolute guarantee that any particular entry will remain in the best version of the history forever. Because blockchains are typically built to add the score of new blocks onto old blocks and because there are incentives to work only on extending with new blocks rather than overwriting old blocks, the probability of an entry becoming superseded goes down exponentially[23] as more blocks are built on top of it, eventually becoming very low.[1][24]:ch. 08[25] For example, in a blockchain using the proof-of-work system, the chain with the most cumulative proof-of-work is always considered the valid one by the network. There are a number of methods that can be used to demonstrate a sufficient level of computation. Within a blockchain the computation is carried out redundantly rather than in the traditional segregated and parallel manner.[26]


Focaloid is a digital solutions providing company that focuses on developing value-adding technology solutions with user-engaging designs. Broadly, our services include Enterprise, Mobile & Web Platform Solutions, Design and Animation Solutions.  We engage in creating customer-centric applications on multiple platforms in mobile and web. Our web and mobile application development span across platforms such as Android, iOS, Java, Ruby ... Read more
Let’s switch gears quickly before we get back to talking about trust mechanisms. We’ll define what a “smart contract” is. The first blockchain that was popularized is obviously the Bitcoin blockchain. But the functionality of Bitcoin is very limited. All it can do is record transaction information. It’s only useful to keep track of the fact that Alice sent Bob 1 Bitcoin.
^ 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.
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.
Decentralization and distribution are seen by many to be a major benefit of public blockchains, but not everybody shares this ethos. But this is not the only benefit of public blockchains, of course. Perhaps most importantly, their transparency makes them very secure: because they can be audited by anybody, it is easy to detect fraud on the chain. Security-via-openness is a principle well known in the open source world, and this strategy is also popular among some in the digital currency community. For example, all of the tools and content produced by the Ethereum team is open source. This helps to make Ethereum widely accessible and more secure.
×