Blockchain 3.0–Sidechain & Cross Chain

Fibo Quantum

BEIJING, Sept. 29, 2018 /PRNewswire/ — Recently, OK Blockchain Capital published the latest “Blockchain 3.0: Sidechain and Cross Chain” research report. From the two important dimensions of technology and economy, OK Blockchain Capital combed the ten-year development of the blockchain industry, summed up the core laws and trends, and defined the sidechain & cross chain technologies as important representatives of the blockchain 3.0 era.

As the strategic partner with OKEx, OK Blockchain Capital has accumulated rich experience in blockchain research and development. OK Blockchain Capital is devoted to assist promising entrepreneurs and teams to grow and succeed in blockchain industry by offering exclusive consulting services, technological support and funding.

In 3.0 era, sidechain & cross chain technologies will play a key role in expanding blockchain functions and performance. Sidechain & cross chain technologies could extend the performance of blockchain and improve the ability to trade on the chain, which will greatly expand the application of blockchain. Building a decentralized exchange based on cross chain technology could further reduce crypto trading fees and improve liquidity.

Take Bitcoin as an example, the basic idea of sidechain technology is to activate another chain and transfer bitcoin assets to it. Conversely, sidechains assets can also be transferred back to Bitcoin. The assets on the sidechains are endorsed by Bitcoin, and are equivalent to Bitcoin in value. At the same time, sidechains design is not limited by the Bitcoin network. Developers can build sidechains through various blockchain technologies, and apply them to all kinds of situations, thus sidechain technology indirectly extends Bitcoin performance and functionality.

There are four aspects of the sidechain & cross chain difficulties, namely transaction verification, cross-chain transaction management, locked asset management and multi-chain adaptation. Common solutions are the notary mechanism and the block header Oracle+SPV mechanism. In the report, we took the Lightning Network, BTC Relay, RootStock, Lisk and other projects as examples to analyze the above technical details.

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SOURCE OK Blockchain Capital