Author: Robin Linus 2020-01-18 08:21:36
Published on: 2020-01-18T08:21:36+00:00
In this context, the author discusses the concept of sidechains and their relation to altcoins and Bitcoin. The author suggests that sidechains issue their own coins but they should not be considered independent altcoins as Bitcoin is the only unit of account. The author further argues that assuming equal rewards, Proof of Work (PoW) and bitcoin-backed Proof of Stake (PoS) offer the same level of security. However, the real-world value of total block rewards for an altcoin must match that of Bitcoin to have security approaching Bitcoin's. The author also notes that while in theory sidechains do not need to be as secure as Bitcoin, they still require a sufficient user base.
Updated on: 2023-06-13T23:12:31.067865+00:00