Author: ZmnSCPxj 2021-09-07 09:37:43
Published on: 2021-09-07T09:37:43+00:00
The conversation discusses the scalability of blockchains and how sidechains can be used to prototype new features that improve blockchain scaling. The idea is to create a federated sidechain as a demonstration and eventually implement it into the Bitcoin blockchain. The requirements for running a node differ depending on the sidechain, but LN is likely to remain easy to install and maintain. Sidechains can be used for smart contracts, which are limited on the Bitcoin Layer1, but deploying them on sidechains should not affect the base layer. Other constructions are possible before going for the big heavy blockchain hammer. Increasing the Drivechain security parameter leads to slower sidechain->mainchain withdrawals, effectively a bottleneck on how much can be transferred sidechain->mainchain. This parameter exists in the old Blockstream sidechains proposal from sipa et al. LN does not require any changes at the base layer anymore.
Updated on: 2023-06-15T01:26:28.674125+00:00