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What is Bitcoin Sidechain

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What is Bitcoin Sidechain

What is Bitcoin Sidechain Bitcoin Sidechain is a new blockchain solution that combines with traditional methods to provide a more effective solution. The side chain of Bitcoin enables Cryptocurrency to seamlessly transfer value and assets between different blockchain networks. Bitcoin adopts two main technologies, one is sovereign side chain (also known as “security layer”), and the other is a hybrid side chain based on state channel technology. Both are decentralized systems composed of multiple independent nodes. These nodes support their business by sending data to different shards. The security of Bitcoin is designed to allow each block to have a separate security mechanism: transaction costs are lower than the time required for each transaction; And all nodes share information with each other

What does Sidechain Coin mean

Sidechain Coin is a blockchain based on Bitcoin, designed to solve the problems of Bitcoin in terms of transaction speed and cost. It has two characteristics: (1) scalability; (2) Higher degree of decentralization; (3) Anti censorship and security. Sidechain coin is a branch and extension layer of the Bitcoin network, completely different from the Bitcoin main network. No node can verify this data, and this function is implemented by the Bitcoin main node. Side chain coins are also known as “Multi pliers”. The characteristic of side chain coins is the use of side chain technology, which increases block space, improves throughput, and reduces block time, allowing more users to participate while maintaining the original blockchain performance. Side Chain Token (SBT) refers to a Bitcoin based digital currency that supports multiple forms of smart contracts.

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