Posted On 24.04.1955
Intent Declared Here is an exciting list of projects which plan to take advantage of sidechain technology. Bitcoin Extended A heavier, less decentralized chain for higher-throughput, bitcoin sidechain Bitcoin transactions. Hivemind P2P Oracle System and Digital Marketplace.
This project aims to revolutionize the way information is created and diffuses through society. As a side-effect, it creates efficiencies in capital markets, destroys scams, and creates certain types of digital insurance markets. Rootstock A reimplementation of Ethereum, led by Bitcoin veteran and world-class security researcher Sergio Demian Learner. Matches users who want to back up files, to users with unused hard drive space. Bitcoin Codex A re-design of Namecoin as a sidechain. Has the potential to greately improve internet safety, privacy, and reliability. Unintentional Sidechains These are great projects, whose codebase we might use as a sidechain of Bitcoin.
Monero Uses ring signatures for greater transaction privacy, at the chain level. Zcash This project uses zk-snarks for extreme privacy. In fact it’s so private that no one really understands what’s going on in here. Original Ripple allowed users to extend credit to their friends, and for that credit to then be extended to friends-of-friends in a big trust network. With BTC fees, we might have a solution to the problem of e-mail spam.
Edit: I think this particular use would not require drivechain per se. Counterparty Digital asset market, with P2P trades. Currently the production version uses Bitcoin Testnet for messages. A sidechain might be more stable, and might allow for the system to automatically confirm that BTC payments have taken place. If you would like to add your project, please let me know or submit a pull request to this page. Ethereum smart contracts BTC Relay is a building block that allows Ethereum contracts to securely verify Bitcoin transactions without any intermediaries: in short users can pay with Bitcoin to use Ethereum DAPPs. BTC Relay is an Ethereum contract that stores Bitcoin block headers.
BTC Relay uses these block headers to build a mini-version of the Bitcoin blockchain: a method used by Bitcoin SPV light wallets. BTC Relay is open source, trust-free, and decentralized. No special privileges for any entity. Home Welcome to the Documentation of Oraclize! Background Oraclize is the leading oracle service for smart contracts and blockchain applications, serving thousands of requests every day on Ethereum, Bitcoin and Rootstock.
In the blockchain space, an oracle is a party which provides data. But to rely on a new trusted intermediary, the oracle in this case, it would be betraying the security and reduced-trust model of blockchain applications: which is what makes them interesting and useful in first place. One solution is to accept data inputs from more than one untrusted or partially trusted party and then execute the data-dependent action only after a number of them have provided the same answer or an answer within some constrains. This type of system can be considered a decentralized oracle system.
It is inherently inefficient: all the parties participating will require a fee and, for every request, it will take time before reaching a sufficient number of answers. The solution developed by Oraclize is instead to demonstrate that the data fetched from the original data-source is genuine and untampered. This is accomplished by accompanying the returned data together with a document called authenticity proof. The authenticity proofs can build upon different technologies such as auditable virtual machines and Trusted Execution Environments. A more detailed overview of Oraclize authenticity proofs is provided in the Authenticity Proofs section of this documentation. Data providers don’t have to modify their services in order to be compatible with blockchain protocols.