Sidechains [Episode 2]
Introduction
Good evening everyone, I wish to talk about few things aboutSidechains today as this is the second episode from me in this community. We now know that sidechains are blockchain technology and they are popularly known as parallel of chains. Stay tuned as I quickly throw more light on this crypto growth related topic.
SIDECHAINS[Types]
There are few types of sidechains I will love everyone in this community to know as for those who knows them already, I will love to remind them today. There are different sidechains that has different functions and they are;
Drive sidechains: Sidechains like this always enable the deployment of customs rules and features. They are also chains that fully allows for the creation of blockchain networks that are new. The main blockchain mainly secures these drive sidechains.
Child chains: These are sidechains that are strictly dependent on a parent chain, strange right? These sidechains inherits the census mechanism of the parent chsin as they provide specific functionalities.
Federated sidechains: The approach of this sidechains enhances the privacy and scalability while maintaining a particular level of decentralization. This sidechains deals with a group of trusted entities who are responsible for maintaining consensus.
Pegged sidechains: This particular sidechains enables the transaction of of assets the Sidechains and the main chains which mostly allows for accesss portability. A two-way pegged mechanism is involved in the sidechains as pegged sidechains are linked to the main blockchain through this.
Difference between the sidechain and the main blockchain
| Sidechains | Main blockchain |
|---|---|
| New techniques can easily be used on the sidechains | New techniques are difficult in main blockchain |
| It encourages interoperability | It does not encourage interoperability. |
| These chains are very scalable | These chains aren't very scalable |
| These chains can have their own unique rules and features that are specific to their purpose. | These chains have a set of rules and features that apply to the entire blockchain network. |
| These chains has a specific role they play in the ecosystem | These chains are in charge of the overall transactions in the blockchain as they play more roles than sidechains. |
Conclusion
I hope you guys learnt something new today? It was a very nice experience talking about Sidechains again today. I have ended everything about Sidechains today. Have a Christmas blessings friends, I appreciate your co-operation in my posts. Sidechains do help in steemit as we can use the steem keychain to create personal token for use on the steem Blockchain. Although many other smart contracts also run on this sidechain.
Disclaimer: Any financial and crypto market information provided in this post was written for informational purposes only and does not constitute 100% investment advice. It's just basic knowledge every crypto trader or investor should have.
Twitter share
https://twitter.com/Saintkelvin18/status/1738462755227594943?s=19
Note:- ✅
Regards,
@theentertainer
Hello sir thanks for the review, my post is finally a perfect one.