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inigthz

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Excuse me,

Can you tell me about sidechain, but in simple languages?? I'm not understand about the detail due the different general mean. hehe

Posted on October 27, 2014 at 9:15 AM

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• irnhnve

  

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  This is from blockstream.com but I think it's a pretty good visual overview.

  

  Posted on October 27, 2014 at 3:48 PM
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• inigthz

  

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  @irnhnve

  a sidechain is a blockchain that validates data from other blockchain and enables bitcoin and other assets to be..

  This is not the same as counterparty ??

  Posted on October 28, 2014 at 2:38 AM
  Last Edited: October 28, 2014 at 2:38 AM
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• irnhnve

  

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  @inigthz

  @irnhnve

  a sidechain is a blockchain that validates data from other blockchain and enables bitcoin and other assets to be..

  This is not the same as counterparty ??

  Counterparty transactions ride on top of the Bitcoin blockchain. Sidechains are separate from the main Bitcoin blockchain but interoperable with it.

  Posted on October 28, 2014 at 7:45 AM
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• fairmontgiant

  

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  Sidechain allows you to swap back and forth between Bitcoin and Altcoin Counterparty allows only 1 way swap, that is Bitcoin to Altcoin... you essentially burned them

  Posted on November 4, 2014 at 5:01 PM
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• jsea

  

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  Sidechains in theory do a lot of things whether technically feasible or not is yet to be established. At present there's no evidence that sidechains are technically workable, the concept unless thoroughly tested could potentially grind the blockchain to almost standstill transaction times, it's already experiencing massive bloat.

  This is my understanding, how does a sidechain theory, if developed ever get tested ?

  Posted on November 4, 2014 at 7:41 PM
  Last Edited: November 4, 2014 at 7:47 PM
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• page

  

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  @inigthz

  @irnhnve

  a sidechain is a blockchain that validates data from other blockchain and enables bitcoin and other assets to be..

  This is not the same as counterparty ??

  https://www.reddit.com/r/counterparty_xcp/comments/2ktbo1/xcp_vs_sidechains/

  Posted on November 8, 2014 at 9:12 AM
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• Cryptonaut

  

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  @jsea Sidechains in theory do a lot of things whether technically feasible or not is yet to be established. At present there's no evidence that sidechains are technically workable, the concept unless thoroughly tested could potentially grind the blockchain to almost standstill transaction times, it's already experiencing massive bloat.

  This is my understanding, how does a sidechain theory, if developed ever get tested ?

  How would it be grinding transaction times to a halt on the main chain? From what I understand, sidechains are basically just your regular altcoin with its own miners (usually via merged mining) and own blockchain, but instead of the coin/token being its own thing, you can actually just transfer your BTC from one chain to another. It shouldnt really effect the main blockchain at all unless maybe people were moving all their BTC en masse into a sidechain.

  Posted on November 8, 2014 at 10:00 AM
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• jsea

  

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  @cryptonaut

  @jsea

  How would it be grinding transaction times to a halt on the main chain?

  I'm not saying that it would be but that it potentially could, dosen't a two way peg in theory, basically open up the blockchain to as yet unidentified occurrences? without the ability to test on anything comparable in size could it ever be said that it wouldn't potentially add weight and grind already slow transaction times.

  I was just listening to beyond bitcoin 17 earlier and although not specific to the blockchain it does give an example of how a system that isn't load tested can be vulnerable or prone to error. It's in the part that discusses how counterparty feels about clearinghouse and dogeparty implementations. Something about a lot of asset created on dogeparty leading to the discovery of a bug and how couterparty was able to remedy a fix.

  http://letstalkbitcoin.com/blog/post/beyond-bitcoin-17-counterpartying-with-robby-dermody

  Posted on November 8, 2014 at 10:40 AM
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• inigthz

  

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  Hmm.. so guys, i don't know how to explain with technically.

  But, is correct example like this??

  Sidechain: You're top up your phone. In case, you has proof of transaction (chain), then credit is coming. But, in physically, you can't shows. (because you Top up with credit card)

  Counterparty: You're top up your phone. In case, you don't have transaction(chain), but (again) credit still coming. But, in physically, you can't shows your transaction (chain) (because you Top up with voucher; your 'real' money)

  What do you think??

  Can you give me more simple sample, maybe?? hehe

  Posted on November 17, 2014 at 10:13 PM
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• Rob

  

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  @page https://www.reddit.com/r/counterparty_xcp/comments/2ktbo1/xcp_vs_sidechains/

  Thanks, that seems like a really good explanation of sidechains (and comparison w/ Counterparty). Or straight to the explanation: http://www.reddit.com/r/Bitcoin/comments/2ks5ld/z/clokcgu

  Posted on November 18, 2014 at 6:20 AM
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