Here’s Rootstock’s Spin on the Bitcoin Sidechains Concept

Rootstock Sidechains

Rootstock is a Bitcoin sidechain currently in development by RSK Labs. It is a platform for distributed smart contracts, much like Ethereum, but the fact that it’s a Bitcoin sidechain means that it will use the bitcoin currency by default.

Although the sidechain idea has mainly been developed by Blockstream over the past few years, Rootstock has decided to put their own spin on the concept. During a recent interview with Epicenter Bitcoin, RSK Labs Chief Scientist Sergio Lerner explained how the two-way peg, which allows users to transfer bitcoins between blockchains, will work with Bitcoin and Rootstock.

Rootstock’s Hybrid System for a Two-Way Peg

In addition to the original version of sidechains that was originally announced back in April 2014 by Blockstream’s Adam Back and Austin Hill, there are also a few other, unique ways to enable a two-way peg between Bitcoin and another blockchain.

“There are several ways to implement a two-way peg,” Lerner told Epicenter Bitcoin. “One is the sidechain concept that was developed by Blockstream, and the other is the drivechain concept that was developed by [Bloq Economist]

Read more ... source: TheBitcoinNews