Sidechains - Crypto Academy / S4W8 - Homework post for pelon53.

ANSWER :- 1

A sidechain is a special type of blockchain that runs parallely or alternatively to the main blockchain for extra security or priority , there is two way link between main chain or side block chain.

We can visualise a side in sach a way suppose a globally decentralised system of various amount of blockchain each of with have own unique rules, functions and purposes which are not dependent on each other still formed one ecosystem , this is the required side chain vision.

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Now let's understand it's working firstly the main blockchain user required to send their particular tokens or assets to an output address.

After that the required assets get locked and are not sendable to anywhere , after that when that transaction get completed . A confirmation is displayed around the the chain .

This procedure is just for additional security and when we allow this confirmation the available tokens or assets completely transferred to the sidechain .

And allow the user to move freely on new network and after that is any user want to send their tokens again on the main blockchain he/she just need to reverse the process.

There are a lot of variation in sidechain which are depends on purpose for which they are built.

The two sidechain of bitcoin are " liquid" and " rootstock" whose functions and motives are totally different. These are created for smart and effective running.

The name of the side chain of ETH is shard chain whose aim is to become the main blockchain of Pos means proof of stake system.

Zk rollup are made for layer 2 construction that help to increase the scalability by enabling the very large amount of transfer process in just one single transaction . ZK- rollup has ability to do hundreds of transfers in just single transaction.

There are basically two type of users in ZK rollup system first one are transactors and the other one are relayers.

The transactors create transfers to the network . This data contained "to" and "from" address , transact , network fee . The three byte addressed version reduced the source of processing needs . The transaction value which is greater than zero or lesser than zero create withdrawal or deposit.

To create rollups these relayers collect very huge amount of data. There main job is to create SNARK proof. SNARK proof is a kind of hash which point out the deltas of the block chain. SNARK proof compare the images of the blockchain before and after the transfer.

• Fee paid by the user on every transfer get reduced

• It is faster process that's why I save our time too .

• It promotes decentralisation because in this computation is done in parallel manner.

ANSWER:-2
Liquid network sidechain are also a special type of blockchain which are based on settlement network which enables confidential, faster , effective and efficient transfer of bitcoin and other digital assets.

Because of the Bitcoin's sidechain liquid network allow it to do its movements between main blockchain and liquid network sidechain.

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The liquid network is designed in such a way that it help to increase the efficiency of the trading Market.

Now let's discuss that liquid network is used for

• Immediate transactions of the Bitcoin
• Confidentiality of the Bitcoin transfer is also enhanced , all the transaction are not visible to any third party application.
• Aslo help to issue new assets and tokens. Digital currencies , tokens , assets can be issued by anyone on the liquid network.

This project is introduced by the bockstream in 2017.

The liquid network do not want to situated any type of trust with bitcoin main net and all parallel networks purely secured through the members who trust on each other.

key features of liquid network sidechain

• It is used to issue the new assets like stablecoins , Altcoin, many security tokens etc.

• There is very important role in managing assets in case of more then one exchange

• In liquid network sidechain processing the transaction speed is boostup , it's transactions are very good and fast forward.

• It is also considered as faster blockchain transaction network.

Liquid network sidechains allows the transfer of bitcoin to the main blockchain in the ratio of 1:1 peg .

ANSWER:-3

Here to complete this question I am going to use mobile version of metamask wallet

So to connect the metamask wallet and polygon Wallet all the steps and screenshots are given below

• Open the polygon network Wallet source and click on the polygon Wallet name box as shown in the screenshot

• Now click on the Wallet connect option as shown below

• Now choose mobile option and click on connect

• After clicking on the connect you reached the metamask wallet and then again click on the connect.

• Now click on sign as shown below

• Now the wallet has connected. Now, click on the three horizontal lines icon on the top left side corner.

• Know click on the browser option

• After that the page will be navigated on the browser and the connected Metamask wallet is shown.

ANSWER :- 4
Block 25,000,000

Go to the website of PolygonScan . Inside the search option, type 250,00,000 & click search option.

Generated details are given below.

Block :- 25000000
Estimated Target Date: Feb 15 2022
Time:- 05:29:27 GMT+0530 (India Standard Time)

Similarly again go to the search bar and again type 12000000 and click search .

Know again generated details are given below

Block :- 12000000
Time stamp :- 229 days 8 hrs
Date :- Mar-14-2021
Time :- 09:35:48 AM +UTC
Matic price:- $0.38

Sidechain are the special type of blockchain that runs parallely or alternatively to the main blockchain , there is two way link between main chain or side block chain.

I have learnt and enjoy this lecture about sidechain . The lecture is very interesting and informative So I would like to thank our brilliant and great professor @pelon53 for this knowledgeable and wonderful lecture day.