Cyber Republic Weekly Update 15

CR Terminology
By Kenneth K.
As there are many terms to such a large project like Elastos and the Cyber Republic, we’ve
decided to build a growing glossary of terms that can help the less technical understand better
what the tech means and the impact it could have. This week we’re focusing on the term:
Sidechain.
Term: Sidechain
A sidechain is a discrete sub-blockchain linked to the main chain which enriches the capabilities
of the main chain. Assets are exchanged between the main chain and sidechain at a
predetermined rate, but because calculations can be solved on separate chains simultaneously,
capacity is greatly increased. For instance, in other blockchains utilizing sidechains a user on a
parent chain sends their tokens to an output address where the tokens are locked. A
corresponding amount of tokens is released on the sidechain and the user is then able to utilize
the tokens on the sidechain in several transactions before returning the sidechain tokens back
to the main chain via the same locking mechanism. Elastos’ mechanism utilizes the same private
key across mainchain and sidechains, and transfers between them are facilitated through
arbitrators--the 36 Supernodes which run one node of every single chain: main chain, DID
sidechain,Token sidechain, and so on so forth. Sidechains are responsible for their own security.
If there is a problem in the sidechain or mainchain, they do not necessarily impact each other.
Reference:
https://cryptodigestnews.com/what-are-sidechains-and-childchains-9c4a944e68f
Layman’s definition:
Think of a sidechain as a local road parallel to a highway. Perhaps this local road has several more
intersections and stop signs and traffic moving in different directions. If these intersections and
stop signs were put on the highway, things would easily slow down to full-blown traffic jam--
maybe even the majority of the time. By adding these local roads parallel to the highway, it allows
specific traffic to exit and get to particular places at particular times, which keeps the highway
itself uncongested and freely moving.
Elastos uses a number of sidechains, each specifically designed for one type of traffic. DID
sidechain just for issuing decentralized IDs and storing information for each DID. Token
sidechain which has the sole purpose of issuing fungible and non-fungible tokens. Ethereum
sidechain to mimic anything that Ethereum can do through smart contract or function. NEO
sidechain to mimic NEO’s smart contracts and functions.
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