Topic: Bitcoin sidechains available today? - page 2. (Read 343 times)

I think that increased scalability will make bitcoin into a worthless stablecoin.
The fluctuations between BTC supply and demand are making the BTC price so volatile.The built in blockchain transaction "limits" are the what creates that supply/demand fluctuations.The value of bitcoin would be way lower,if the blockchain could handle,let's say,100 million transactions per minute.

actually scalability has been one of the biggest issues that bitcoin has always been facing and will continue to face forever. that is why dozens of developers have been working so hard for the past 5+ years to come up with different solutions to address this issue. from multiple raw block size change proposals (that include SegWit) to second layer solutions such as LN and everything in between.
and by the way, scalability is not about being "fast" but it is about the ability to handle more transactions so that the system can handle the increased demand.

Agree. Bitcoin's slowness and high costs is more of a feature than a bug. This allows it to remain decentralized and resistant against censorship from third parties (mostly worldwide governments). With greater transaction capacity, you'd get lower security and censorship-resistance. There's no need to surpass existing traditional payment processors in terms of transaction capacity, since Blockchain was not meant to provide convenience over censorship-resistance. At least, that's how Satoshi intended Bitcoin to be in the first place. But I guess that most people prefer something that's faster and cheaper even if they have to sacrifice their freedom/security. The concept of "sidechains" is interesting because it allows developers to create altcoins that are completely secured by the main Bitcoin blockchain. In a crypto world where 51% attacks are common in small Blockchain networks, this feature (sidechain) is a must for developers looking to maintain their cryptocurrencies as secure as possible against external attacks.

In terms of sidechains available on the Bitcoin blockchain, I'm only aware of "Liquid" which is heavily promoted by Blockstream. There could be other sidechains out there that could prove to be useful for the Bitcoin ecosystem. "Omni" might be another sidechain living on the Bitcoin blockchain that's certainly useful for issuing "tokens" just like Counterparty. The more sidechains there are, the better it'll be for extending Bitcoin's capabilities. At least, that's the way I see it. Bitcoin's Lightning Network is something entirely different that will serve well its purpose for delivering micropayments for Bitcoin at a fraction of the cost. Just my opinion

be prepared for some silencing

its funny that the devs that made Liquid pretend its impossible to allow more than 2000tx to be confirmed in les than 10 minutes securely but meanwhile they are making other networks that can.

i wonder why
oh yea coz they get the transaction fee's from it

by the way liquid only does about 2tx a block on average and only plays with ~100tokens that are pretend btc
and lastly. its a POS network with 15 entities of power. so its aint decentralised

so although claimed as a fast network with dozens of exchanges and private businesses using it.. and all the other propoganda.. its actually not really used.. kind of a shame devs invested soo much time for personal gain while crapping all over the real bitcoins utility issues and refusing to correct those issues.

such a shame

Scalability is not an issue for bitcoin network.

This scalability drama is just a stupid idea that scammers who are trying to sell you their worthless tokens are trying to put into your head. And they are doing an amazing job

Bitcoin was created not to be faster than currenty payment methods, visa is far enough.  It was created to be decentralized, not owned by anyone.

Any sidecoin, fork, altcoins or whatever will be owned by someone. SoI will just skip them and use visa.

Not even the fastest and most centralized shitcoin is faster than visa.

Bitcoin transactions are cheap, although they are not instant.  But not even the banking system is.
In a few years we will have lightning network to buy coffee and stuff, and to send real money we will use the bitcoin network, which is cheap but take a few hours to complete. That's just what we need.

Thanks we don't need side coins.

Bitcoin sidechains prove to be a great scalability solution that would lose the burden on the main Bitcoin blockchain. New cryptocurrencies can be created in a form of a sidechain, to obtain the security of Bitcoin without sacrificing scalability. This, combined with the Lightning Network, should make Bitcoin a powerful blockchain ecosystem that's capable of withstanding anything along the way. So far, I'm aware of a sidechain called "Liquid" provided by Blockstream which makes use of the main Bitcoin blockchain for security. But I'm on the look for more sidechains that are available on Bitcoin today. If this turns out to become successful, mainstream developers could simply choose to create a sidechain that would become resistant against 51% attacks. There are so many small altcoins out there that could mitigate the risks of external attacks by becoming a Bitcoin sidechain.

Any recommendations, or suggestions will be greatly appreciated. Thanks in advance.