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.


New organizational structures will emerge that will make inside/outside much less clear. These clear boundaries started to erode with the extranets in the 90s, then with the multi-tenant cloud platforms, and lately with the smartphones and the IoT. As we move forward we will see value chains where participants have multiple roles and affiliations. We will be designing token based systems that produce gains for any participants, internal or external.
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.
This approach isn’t fool-proof, but it’s not by mistake that the system looks the way it does today (that’s my history degree talking). Despite best technical efforts, human problems remain within the realm of probability. From http://www.nytimes.com/2009/01/15/books/15masl.html: “…blame cannot be easily assigned: not even the most sophisticated economists of the era could accurately predict disaster, let alone guard against it. The effects of a public herd mentality at the time of the [insert catastrophe here] are depicted, all too recognizably, as unstoppable.”
You cannot be a crypto investor or entrepreneur without having a real understanding of the differences between these types of blockchains as well as their implications. Even if they are based on similar principles, their operation is, in fact, different to all levels. So the tokens issued by these blockchains will not be assessed in the same manner.
Similarly, a side chain is a separate blockchain that runs in parallel to the main chain. The term is usually used in relation to another currency that’s pegged to the currency of the main chain. For example, staying with the Starcraft motif, say we had an in-game currency called Minerals (oh wait, we do!). We could allow players to peg their Ether (or ETH) to purchase more Minerals in-game. So we reserve some ETH on the main chain, and peg, say 500 Minerals to 1 ETH.
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.
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.
Note: This is also a pioneering effort towards increased adoption of smart contracts because while the traditional contracts have been around for a long time, smart contracts are relatively new, and there are gaps in how they are structured. If the smart contracts have the necessary legal expressions then that could serve as a template to bridge this gap in future.
Every node in a decentralized system has a copy of the blockchain. Data quality is maintained by massive database replication[8] and computational trust. No centralized "official" copy exists and no user is "trusted" more than any other.[4] Transactions are broadcast to the network using software. Messages are delivered on a best-effort basis. Mining nodes validate transactions,[22] add them to the block they are building, and then broadcast the completed block to other nodes.[24]:ch. 08 Blockchains use various time-stamping schemes, such as proof-of-work, to serialize changes.[34] Alternative consensus methods include proof-of-stake.[22] Growth of a decentralized blockchain is accompanied by the risk of centralization because the computer resources required to process larger amounts of data become more expensive.[35]
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A company called Blockstream has been focusing on these developments and has announced the release of Sidechain Elements, which is an open-sourced framework for sidechain development. It includes a functioning code and a testing environment for working with sidechains with several components: the core network software to build an initial testing sidechain, eight new features not currently supported by bitcoin, a basic wallet and the code for moving coins between blockchains.
This is justified by observing that, in our pre-sidechain world, miners always want things to be correct. In theory, the incentives of miners and investors are very strongly aligned: both are compensated most when the exchange rate is highest. And, in practice, we do not see large reorganizations (where miners can “steal”, by first depositing BTC to major exchanges, then selling that BTC for fiat (which they withdraw), and finally rewriting the last 3 or 4 days of chain history, to un-confirm the original deposits). These reorgs would devastate the exchange rate, as they would cast doubt on the entire Bitcoin experiment. The thesis of Drivechain is that sidechain-theft would also devastate the exchange rate, as it would cast doubt on the entire sidechain experiment (which would itself cast doubt on the Bitcoin experiment, given the anti-competitive power of sidechains).

As an engineer and an entrepreneur, I truly believe blockchain technology is going to revolutionize the world. One of the biggest hurdles we need to tackle in the blockchain industry is scalability. Ethereum can only handle 15 transactions per second. I previously wrote about why that will prevent blockchain from going mainstream and how DAG could potentially be a winner.
The two-way peg is the mechanism for transferring assets between sidechains and is set at a fixed or predefined rate. Bitcoin’s Dynamic Membership Multi-Party Signature (DMMS) plays a vital role in the functionality of the two-way peg. The DMMS is one of Bitcoin’s lesser known but incredibly important components. It is a group digital signature — composed of the block headers in Bitcoin — that has no fixed size due to the computationally powered PoW nature of its blockchain. The Pegged Sidechain paper further describes it as:
Our Proof of Work tutorial talks about it in depth, but the best explanation might come from Satoshi Nakamoto himself. If the camps above start receiving messages that don’t agree, they rely on executing a Proof of Work. The Proof of Work is sufficiently complicated and requires significant computing power. Once one camp solves the Proof of Work, it broadcasts the results to the other camps. This message is now accepted in a chain of messages and the competing messages are dropped by the other camps.
Using Rootstock as an example, in order to transfer assets from one chain to the other a user on the parent first has to send their coins to a special output address where they will consequently become locked and un-spendable. Once the transaction is completed, SPV then confirms it across the chains and after waiting out a contest period, which is just a secondary method to help prevent double spending, the equivalent amount will be credited and spendable on the Sidechain and vice versa.
A federation is a group that serves as the intermediary between a parent chain and its corresponding sidechain. It is an additional layer in the protocol but serves a key function and is what Blockstream’s Liquid sidechain uses. Due to the lack of expressiveness of Bitcoin’s scripting language, an externally implemented and mutually distrusting set of members form a federated peg.
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This comparison might make you think that private blockchains are more reasonable to use as they are faster, cheaper, and protect the privacy of their members. However, in certain cases, transparency is more crucial than the speed of transaction approval. So, every company interested in moving their processes to a blockchain evaluates the needs and goals and only then selects a particular type of distributed ledger.
– we provide no uniqueness of names, unlike the domain registrars, social networks, namecoin, onename.io, etc. There is no uniqueness of names in real life either. Instead the identity is just a hash of a [json] object that contains a public key. Identity object can not be modified directly, but a new version of it can be created, pointing to a previous version. The owner of the identity object can optionally connect it with the real life credentials, e.g. the social account, internet domain, email, etc. by proving the proof of ownership of that account the way onetime.io does it, the way Google Analytics does it, etc. This allows a spectrum of identities from fully anonymous to fully disclosed and verified. This also allows a person to have multiple identities, for work, for social, for gaming, for interest-specific forums. To simulate OAUTH2, a new site-specific identity can be created and signed with person’s other identity.

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.
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External Account, which stores ETH balance – This contains the address of the User that was created using the Web3.js API, e,g, personal.newAccount(…). These accounts are used for executing smart contract transactions. ETH is your incentive received for using your account to mine transactions. The address of the account is the public key, and the password of the account is the private key.
These in-channel payments would be instant, unlike current Bitcoin payments, which require an hour to be fully verified on the blockchain. What’s more, payments would be routable across multi-hop paths, like packets across the Internet — so instead of having to create a channel to every new counterparty, you could maintain a few channels to a small number of well-connected secure intermediaries and send/receive money through them.
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.
Security issues. Like the blockchain, the sidechain needs the work of miners to stay safe from attacks. Without sufficient power, the sidechain is vulnerable for assault. If hacked, only the sidechain will be damaged, while the main chain remains untouched and ready to continue work. If the main chain comes under the attack, the sidechain still operates, but without the value of the peg.
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Implemented by The initial design was published by Blockstream in 2014, but the implementation is blocked by the lack of native support for SPV proofs in Bitcoin (which may not be added at all). Rootstock workaround this by sacrificing decentralization (still work in progress). The Ardor platform created by Jelurida is the first to propose and implement the concept of Child Chains. Already running on testnet, the production Ardor launch is scheduled for Q4 2017.
If you’ve been keeping track of developments in the bitcoin industry, you’d know that the blockchain refers to the public ledger of transactions associated with the cryptocurrency. As the bitcoin ecosystem has grown in size and scale throughout the years, the blockchain has also increased considerably in length and storage size, prompting debates on whether or not to increase its block size limit.
Note: Some would argue that such a system cannot be defined as a blockchain. Also, Blockchain is still in it’s early stages. It is unclear how the technology will pan out and will be adopted. Many argue that private or federated Blockchains might suffer the fate of Intranets in the 1990’s, when private companies built their own private LANs or WANs instead of using the public Internet and all the services, but has more or less become obsolete especially with the advent of SAAS in the Web2.
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:
A diferencia con la, hasta ahora, plataforma estrella de smart contracts Ethereum, otra de las diferencias más importantes de Lisk es que, en Lisk, cada aplicación corre sobre su propia sidechain y no sobre una única cadena, cómo es el caso de Ethereum. Por lo tanto, un entorno propio e independiente que podrá exprimir cada desarrollador para cada DAPP desarrollada con un backend en JS/NodeJS y un frontend HTML/CSS/JS.
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This is what, at its core, state channels are. Imagine we wanted to play a game of Starcraft and have a smart contract that pays 1 ETH to the winner. It would be ridiculous for each participant to have to write on the main Ethereum network each time a Zergling was killed by a Zealot, or when a Command Center was upgraded to an Orbital Command. The gas cost (Ethereum gas, not Starcraft gas) and time for each transaction would be prohibitive.
– The transactions added to the blockchain are public: the whole world (Member of the network as non-members) can access transactions that are added to the blockchain. The information of the transactions is made public for the miners who do not know the other members, to check the conformity (for example that the person who has created a transaction holds enough bitcoins). These transactions are obviously not nominative, only your public key appears, but if someone knows your public key, he will be able to find all the transactions that you have created.

Sidechains are an essential innovation in the blockchain field with some interesting long-term implications and effects on the broader interoperability and scalability of blockchain networks. They are effectively extensions of existing blockchains that increase their functionality and allow for validation of data from other blockchains and for assets to be seamlessly transferred between them.


The witnesses who put more funds in escrow have a greater chance of mining (or minting) the next block. The incentives line up nicely here. There are only a few witnesses and they get paid to be witnesses, so they are incentivized to not cheat. If they do cheat and get caught, they not only get voted out in favor of the next eagerly awaiting witness, they lose all the funds they had in escrow.
Sidechains are an essential innovation in the blockchain field with some interesting long-term implications and effects on the broader interoperability and scalability of blockchain networks. They are effectively extensions of existing blockchains that increase their functionality and allow for validation of data from other blockchains and for assets to be seamlessly transferred between them.

Let's explore if there is a hybrid blockchain concept (third type). A consortium blockchain would be a mix of both the public and private. Wherein the ability to read & write could be extended to a certain number of people/nodes. This could be used by groups of organization/firms, who get together, work on developing different models by collaborating with each other. Hence, they could gain a blockchain with restricted access, work on their solutions and maintain the intellectual property rights within the consortium.

@mowliv I think a good way to think about it is by looking at our economy. The Federal Reserve prints US dollars for the US Government (the main blockchain) to boost the US economy. However, US dollars can be exported to other countries (a side chain) that could have a completely independent economy but still use a currency backed by the US government. – Olshansk May 30 '17 at 0:56
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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.
In this case, you work directly with the given blockchain tools and stack. Assembly is required, so this isn’t for the faint of heart at this point, as many of the technologies are still developing and evolving. However, working directly with the blockchain provides a good degree of innovation, for example in building decentralized applications. This is where entrepreneurs are creating ambitious end-to-end, peer-to-peer applications, such as OpenBazaar (on Bitcoin), or Ujo Music (on Ethereum).
The original Litecoin we started out with are now Rootstock Litecoin, which I can use for creating smart contracts and as previously mentioned Sidechains can exist for all types of digital assets with propositions of not only smart contracts but the ability to provide more freedom for experimentation with Beta releases of core software and Altcoins, as well as the taking over of traditional banking instruments such as the issuing and tracking of shares, bonds and other assets.
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Performance at scale: It is not uncommon for large businesses to process 100,000’s of transactions per second (TPS). Therefore, enterprise blockchains need to scale so that they can deliver performance accordingly. To achieve this, they can compartmentalize processes using containers or similar approaches. Read more about this requirement in this article “Enterprise blockchain ready to go live”.
As we’ve talked about, writing to the blockchain is slow and expensive. This is because every node in the entire network needs to verify and slurp in the whole blockchain and all the data it contains. Executing a large smart contract on a blockchain can be prohibitively expensive, and doing things like storing images on blockchains is economically infeasible.
Cohen said Walmart also has a patent on drone delivery systems that facilitate orders in a cleaner way, track package contents, environmental conditions and location. Walmart supplier Coca-Cola is starting a pilot to use blockchain to identify inhumane labor conditions in its sugar supply chains. Coca-Cola plans to create a secure decentralized registry for workers and their contracts to help securely record their workers’ identities while providing a trail in case employers abuse their power.

“The only reason the banks have gotten to the point of thinking about permissioned ledger is because they finally reached the stage of bargaining, third stage in five stages of grief, for industry they’re about to lose. They start with denial, and the basis of denial is, well, this thing isn’t gonna work, it’s gonna die any day soon, and it doesn’t. And then they say, it’s just silly money and it doesn’t have any value, until it does; and no one else is gonna play with it, except they are; serious investors won’t put money into this, except they did; and it still refuses to die. We go from denial to bargaining. Somewhere in between might be anger, some depression, and eventually they’re going to reach acceptance, but it’s gonna take a long time. 

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