Sentences with phrase «sidechains functionality»

At least two groups are working on opcodes that would alter bitcoin to add sidechains functionality, mentioned earlier.

As a side note, new opcodes are required to bring sidechains functionality to the Bitcoin blockchain.

According to Blockstream, the code will allow community developers to experiment with sidechain functionality, with initial features allowing users to transact and issue digital assets.

Not exact matches

The process has noticeable parallels to several other cryptocurrency projects out there — sidechains have been touted as a way to tie different features to bitcoin's main network, and researchers speculate that a new type of fork, called a velvet fork, might one day enable similar functionality.

«Sidechains extend Bitcoin functionality through interoperable blockchain networks and today's open source release includes an experimental sidechain that has a number of new working capabilities.

They provide no functionality whatsoever, or the functionality they could provide could very easily be implemented via a sidechain.»

Sidechains, a concept created and mainly developed by Blockstream, is an attempt to bring increased functionality to the Bitcoin network and add greater utility to the Bitcoin token.

Revealed in an interview with CoinDesk, startup RSK aims to soon go live with technology that will bring smart contract functionality to bitcoin in the form of an interoperable sidechain.

Smaller consumer - facing bitcoin startups appear more apt to be vocal about the protocol change, particularly because it would make way for other upgrades - including the Lightning Network and sidechains (both solutions expected to bolster capacity and functionality).

In March 2016, Bitmain led a funding round for Rootstock, smart contract developer designed as a sidechain operating on bitcoin's blockchain, whose aim is to expand the latter's functionality with smart contacts.

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

At its core, the idea proposes securing sidechains, designed to boost the functionality of bitcoin, by entering miners into a kind of lottery system.

Sidechains allow Bitcoin to be locked into a peg and to be released on a secondary blockchain as a different asset with new functionalities and features.

In October 2015, the company launched its own sidechain Liquid, which extends blockchain functionality and allows users rapid transfer and settlement in a separate high - volume and low - fee secure cryptographic system.