Sentences with phrase «sidechain means»

It is a platform for distributed smart contracts, much like Ethereum, but the fact that it's a bitcoin sidechain means that it will use the bitcoin currency by default.

Not exact matches

This means you can create your own sidechain projects using the Stratis» algorithm without being worried about its safety;

That means sidechains or other blockchains that might be utilizing POS, POW, DPOS, and POC can all talk to each other and with NULS.

In other words, splitting sections of the network onto various sidechains does not necessarily mean that Bitcoin can then scale to an infinitely larger number of transactions per second.

Though this might seem like a novel direction for sidechains, onlookers might be more excited about Blockstream's «other» idea for the technology: to allow the means to move tokens between public blockchains with different rule sets without having to trust an intermediary.

This means that if they fail, only they fail and what remains is a small sidechain entry on the Lisk mainchain.

At the same time, the equal number of LSK tokens will be replicated on the sidechain and can be used by yourself as normally, which means that in the case of a badly written sidechain or blockchain application, all LSK tokens are safe and can be retrieved easily by the sidechain owner.

This means that they would be able to either offer smart contract execution as a service, or execute smart contracts locally inside their sidechain, and at that point developers won't need to plug into the Ethereum network anymore.

This means that the sidechain needs to be secured by a set of nodes that are only running in the jurisdictions where the blockchain application features are legal.

In simplified terms, this means that sidechains carry their own data sets / functionality which is tied into the parent chain.