Sidechains

Multitudes are buying into the use of blockchain technology and cryptocurrencies over time. Unfortunately, miners usually get a harder time competing with other miners to get the chance to add a block to the chain. However, technology evolution ensures something for everyone while reducing piling congestion in primary blockchains. The issues brought about the introduction of sidechains to increase the functionality of the primary chains. The development of sidechains is making the concept of merged mining popular. Merged mining, also…

Sidechains have been around since 2014. They are branches of the leading blockchains and aim to strengthen the networks' effectiveness and features. Despite this, sidechains have a couple of shortcomings that make the system far from perfect.  Developers in the crypto space proposed the introduction of syncchains as a mitigation solution. However, the two seem to be quite confusing, and not many can tell them apart. Therefore, this article will shed more light on both networks for a better know-how. …

So far, Bitcoin is the top contender in the cryptocurrency market, with a net worth of approximately 350 billion USD. It has a robust network strengthened by its decentralized nature. Using a peer-to-peer network under cryptographic protocols enables the undertaking of transactions globally.  However, this crypto giant network has a few limitations that sidechains help solve. Some of these limitations are slow transactions per second, higher transaction costs, scalability issues, and slow network evolution compared to traditional transactions with fiat currency. Thanks…