New terms of Blockchain that you must know i.e. Alternative Blockchaim anf Sidechains

in #blockchain7 years ago

Sidechains​ :
Sidechains​ are alternative blockchains which are backed by Bitcoins via Bitcoin contract just as dollars and pounds used to be backed by Gold. One can possibly have a thousands of sidechains “pegged” to Bitcoin, all with different characteristics and purposes--all of them taking advantage of scarcity and resilience guaranteed by the Bitcoin blockchain. The Bitcoin blockchain can in turn iterate to support additional features for the experimental sidechains--once they have been
tried and tested.

Colored Coins:
​is an open source protocol that describes class of methods for developers to create digital assets on top of Bitcoin blockchain by using its functionalities beyond digital currency.

Alternative Blockchains​:
Alternative Blockchain is a system of using the blockchain algorithm to achieve distributed consensus on a particular digital asset. They may share miners with a parent network such as Bitcoin’s--this is called merged mining. They have been suggested to implement applications such as DNS, SSL certification authority, file storage and voting.

Coin Marketplace

STEEM 0.19
TRX 0.17
JST 0.030
BTC 79435.01
ETH 3189.92
USDT 1.00
SBD 2.70