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General Discussion / Bitcoin sidechain instead of bitBTC ?
« on: January 26, 2016, 02:03:33 pm »
The concept of sidechains is one where real BTC gets locked up in another blockchain contract and a token is issued in its place which can be redeemed at any time without human involvement.
So it is essentially a bitcoin IOU but from a decentralised smart contract instead of a company or person.
The guys at blockstream claim they have got sidechains working in a first version that they call liquid and say companies like bitstamp and bitfinex are using it.
If they really have made a working sidechain for bitcoin can't this be integrated into bitshares to replace BITBTC?
So it is essentially a bitcoin IOU but from a decentralised smart contract instead of a company or person.
The guys at blockstream claim they have got sidechains working in a first version that they call liquid and say companies like bitstamp and bitfinex are using it.
If they really have made a working sidechain for bitcoin can't this be integrated into bitshares to replace BITBTC?