Side Chain
By CoinGecko | Updated on Mar 03, 2020
A blockchain ledger that runs in parallel to a primary blockchain, where there is a two-way link between the primary chain and sidechain. This allows the sidechain to operate independently of the primary blockchain, using their own protocols or ledger mechanisms. Cryptocurrencies in the sidechain is connected to the main chain with the two-way peg, allowing users to transfer their assets to and fro.
Related Terms
Algorithmic Stablecoin
Algorithmic stablecoins are tokens pegged to a fiat currency which is usually the US dollar, purely through software and specific conditions.
Validator
A block-signing participant of a Proof of Stake blockchain network, whom have significant tokens staked on the network.
Application-Specific Integrated Circuit (ASIC)
Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)
Internet of Things (IoT)
It is a system that lets any devices that are connected to internet to comunicate with each other without human-to-human or human-to-devices interactions.
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