A partir de este momento, se podrán intercambiar y mover estas monedas para hacer uso del potencial de esa sidechain siguiendo las directrices y protocolo que ésta tenga estipulado. Por ejemplo, quizá la velocidad de creación de los bloques es más rápida en esta o quizá los scripts de transacción en esa cadena son turing completos (disponen de un poder de cómputo equivalente a la máquina universal de Turing).
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.

The sidechains vision of the future is of a vast globe-spanning decentralized network of many blockchains, an intertwined cable rather than a single strand, each with its own protocol, rules, and features — but all of them backed by Bitcoin, and protected by the Bitcoin mining network, as the US dollar was once backed by gold. Sidechains can also be used to prototype changes to the fundamental Bitcoin blockchain. One catch, though: this will require a small tweak to the existing Bitcoin protocol.


The public blockchain is open to anyone who wants to deploy smart contracts and have their executions performed by public mining nodes. Bitcoin is one of the largest public blockchain networks today. As such, there is limited privacy in the public blockchain. Mining nodes in the public blockchain requires a substantial amount of computational power to maintain the distributed ledger at a large scale. In the Ethereum public blockchain, smart contract codes can be viewed openly.
Cabe destacar el papel de la gente de Blockstream, una de las compañías centradas en la búsqueda de este objetivo (con un extremeño en sus filas, Jorge Timón). Blockstream está trabajando actualmente en el desarrollo de un protocolo que permita crear sidechains. Son los responsables de uno de los papers más conocidos sobre el tema, publicado en Octubre del 2014:

Step back from the details for moment and consider what’s been described.  We now have a way to move coins from Bitcoin onto another platform (a sidechain) and move them back again.   That’s pretty much what we do when we move them to a wallet platform or an exchange.  The difference is that the “platform” they’ve been moved to is also a blockchain… so it has the possibility of decentralised security, visibility and to gain from other innovation in this space.


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.
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.
In September 2015, the first peer-reviewed academic journal dedicated to cryptocurrency and blockchain technology research, Ledger, was announced. The inaugural issue was published in December 2016.[91] The journal covers aspects of mathematics, computer science, engineering, law, economics and philosophy that relate to cryptocurrencies such as bitcoin.[92][93]

First, clear your head of anything related to money, currency or payments. And clear your head of the word ledger, too. The mind-bending secret of Bitcoin is that there actually isn’t a ledger! The only data structures that matter are transactions and blocks of transactions. And it’s important to get this clear in your head if sidechains are going to make sense.
A partir de este momento, se podrán intercambiar y mover estas monedas para hacer uso del potencial de esa sidechain siguiendo las directrices y protocolo que ésta tenga estipulado. Por ejemplo, quizá la velocidad de creación de los bloques es más rápida en esta o quizá los scripts de transacción en esa cadena son turing completos (disponen de un poder de cómputo equivalente a la máquina universal de Turing).
Lisk es una plataforma open source en la que se pueden desarrollar y ejecutar smart contracts en forma de aplicaciones descentralizadas o DAPPS multiplataforma. Éstas, y como uno de los puntos fuertes de Lisk, son desarrolladas con, posiblemente, el lenguaje de programación más famoso y usado, Javascript. Aunque con un enfoque genérico, ya han empezado a aparecer algunas soluciones e interés en sectores concretos, como es el caso del Internet de las cosas que, junto a Chain of Things, están empezando a explotar.
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?

Further, despite sidechains being independent of each other, they are responsible for their individual security and need the requisite mining power to remain secure. Bitcoin’s blockchain has sufficient PoW mining power to remain secure even from the most coordinated of attacks, but many more nascent sidechains lack the necessary network effects and mining power to guarantee security to users.

The distributed Bitcoin mining network performs quadrillions of calculations every second that maintain the integrity of its blockchain. Other blockchains aren’t remotely as secure, but they innovate much faster. Sidechains, an innovation proposed and developed by the startup Blockstream, allow for the best of both worlds; the creation of new blockchains “pegged” to Bitcoin, so that value can be transferred between them, which can conceivably be automatically secured by Bitcoin miners via “merged mining.”
Frankly, secure implementation of Bitcoin is already a pain in the ass .. adding more complexity just seems like the wrong move at this point. It’s already trying to be a currency, a networking protocol and a client in the same codebase. Adding turing complete (or not) scripts with arbitrary outcomes, multiple versions of the official client cooperating, multiple clients, and now multiple blockchains is basically the nail in the coffin in terms of widespread implementation.
Things get a bit more interesting when you replace the single custodian with a federation of notaries by way of a multisignature address. In this model, a federation of entities must sign-off on movements to and from the sidechain, so more parties must be compromised for a failure situation to unfold where the bitcoins frozen on the main chain are stolen.
Public blockchains provide a way to protect the users of an application from the developers, establishing that there are certain things that even the developers of an application have no authority to do. From a naive standpoint, it may be hard to understand why an application developer would want to voluntarily give up power and hamstring themselves. However, more advanced economic analysis provides two reasons why, in Thomas Schelling's words, weakness can be a strength. First, if you explicitly make it harder or impossible for yourself to do certain things, then others will be more likely to trust you and engage in interactions with you, as they are confident that those things are less likely to happen to them. Second, if you personally are being coerced or pressured by another entity, then saying "I have no power to do this even if I wanted to" is an important bargaining chip, as it discourages that entity from trying to compel you to do it. A major category of pressure or coercion that application developers are at risk of is that by governments, so "censorship resistance" ties strongly into this kind of argument.
Send your Bitcoins to a specially formed Bitcoin address. The address is specially designed so that the coins will now be out of your control… and out of the control of anybody else either. They’re completely immobilized and can only be unlocked if somebody can prove they’re no longer being used elsewhere (I’ll explain what I mean by this in a minute).   In other words, you’ve used the core bitcoin transaction rules I described above to lay down a specific condition that the future owner – whoever it ends up being – needs to fulfil in order to take control
Lisk es una plataforma open source en la que se pueden desarrollar y ejecutar smart contracts en forma de aplicaciones descentralizadas o DAPPS multiplataforma. Éstas, y como uno de los puntos fuertes de Lisk, son desarrolladas con, posiblemente, el lenguaje de programación más famoso y usado, Javascript. Aunque con un enfoque genérico, ya han empezado a aparecer algunas soluciones e interés en sectores concretos, como es el caso del Internet de las cosas que, junto a Chain of Things, están empezando a explotar.

thank you for the clear explanation of this. so in essence, by locking bitcoins to a particular address we’ve created an asset (collateral). then on the other sidechain (marketplace) we get issued shares against the asset, which we can sell. anyone holding a share can then redeem it against the asset. I think that’s an analogy that finance types would get

Now, making experimental or rapid changes to Bitcoin is very risky and so change happens slowly. So if the one-size-fits-all architecture of Bitcoin doesn’t suit a particular use-case, you have a problem. You either have to use an entirely different cryptocurrency (or build one!). Or you have to use (or build) a centralized service, which brings new risks.


Blockchains that are private or permissioned work similarly to public blockchains but with access controls that restrict those that can join the network, meaning it operates like a centralised database system of today that limits access to certain users. Private Blockchains have one or multiple entities that control the network, leading to the reliance on third-parties to transact. A well-known example would be Hyperledger.
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