Bitcoin Sidechains: What Are They and How do They Work?

So far, Bitcoin is the top contender in the cryptocurrency market, with a net worth of approximately 166.4 billion USD. It has a robust network strengthened by its decentralized nature. Using a peer-to-peer network under cryptographic protocols, it enables the undertaking of transactions globally.  However, this crypto giant network comes with a few limitations that sidechains help solve. Some of these limitations are slow transactions per second, higher transaction costs, scalability issues, and slow evolution of the network compared to traditional…