Quick notes on Sidechains “Elements”

Richard Gendal Brown

I’ve written a lot recently about the potential of replicated, shared ledgers that are private/semi-private. For example, I suggested that industries with duplicated systems across firms might get benefit from adopting this technology.  But I also keep an eye on what’s happening in the Bitcoin world.  So the BlockstreamElements” launch caught my attention this week.

I wrote about the idea behind sidechains late last year and so it’s interesting to see parts of the vision turn into real code. Back then, I said that a way to think about this is as a system that lets you “move” bitcoins from the Bitcoin blockchain onto another bitcoin-like system and back again in a way that doesn’t harm the Bitcoin network and doesn’t require you to trust a central entity like a Bitcoin exchange.

Why would you want to do that?

  • First, it could be a good way to…

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