sidechain

What are Sidechains?
At its essence, a sidechain is a parallel blockchain that functions autonomously from the main blockchain (often called the main chain). Usually, this connection is facilitated by a two-way bridge, allowing for the smooth transfer of digital assets or tokens between the main chain and the sidechain.
How Do Sidechains Work?
The defining feature of sidechains lies in their autonomy. In contrast to the main chain, sidechains possess the flexibility to adopt unique consensus algorithms and customize block parameters according to their specific objectives. This autonomy empowers them to process transactions efficiently, providing benefits such as quicker confirmation times and reduced fees.
Consensus algorithms on sidechains can vary, encompassing Proof-of-Authority to Delegated Proof-of-Stake. Validators within the sidechain network play a pivotal role in verifying transactions, generating blocks, and ensuring the overall security of the chain.
Furthermore, sidechains often deviate from the main chain in terms of block parameters. While the main blockchain enforces limits on block times and sizes, sidechains can adjust these parameters to achieve higher throughput. However, this flexibility comes with trade-offs, as more permissive block parameters may compromise decentralization by relying on a smaller number of powerful nodes.
#webgtr #Launchpool #sol #sidechain #BTC

The founder of #Cardano , Charles Hoskinson, expressed great joy and pride in the fact that the public test network for Cardano’s #sidechain , known as Midnight, is now active.
Midnight Testnet is Officially Launched
The Midnight team announced the launch of this test network on Tuesday, while also inviting blockchain developers from around the world to get involved in its development. Midnight is primarily aimed at organizations and developers who require #blockchain transparency but also need to protect sensitive data and maintain a balance between privacy and data utilization.
A Safe and Reliable Environment for Development
The Midnight team offers developers an environment that faithfully simulates live network conditions. This means they can work on this test network with confidence, without the concern of frequent system resets, made possible by improvements to the code base. This step is crucial as the Midnight team moves closer to launching the mainnet.
Charles Hoskinson Expresses Pride and Support
Cardano founder Charles Hoskinson ( #charleshoskinson ) did not hide his excitement over the launch of the Midnight Testnet. He acknowledged that while there are still many challenges ahead for Cardano, this step is exceptionally important and deserves significant attention. Hoskinson even added, "It’s worth sending a little love their way," expressing his gratitude to the team.
Developing Applications on Midnight
Midnight comes with programmable credentials that allow developers to choose which data will be shared on-chain and which will remain confidential. The Compact programming language, based on Typescript, is designed so that even developers with less blockchain experience can easily create smart contracts.
Community Engagement and Developer Tools
Since the launch of the devnet, the Midnight team has created several opportunities for feedback and community engagement, such as community calls and ticket sales on Discord. Future hackathons will help developers better utilize Midnight’s features. To successfully develop on Midnight, developers will need a suitable environment like macOS, Linux, or Windows WSL, as well as the necessary tools to run the node and other network components.

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

In November 2022, Input Output Global (IOG) announced Midnight, a data protection-based sidechain solution for Cardano. One of the key features of Cardano's architecture is the ability to deploy sidechains, which are essentially separate blockchains that can interact with the main Cardano chain. In this article, we will explore Midnight and understand what the benefits for users and developers will be.
 
What is a sidechain?
Firstly, let us understand what sidechains are and why they are important. Sidechains are separate blockchains that are connected to the main blockchain, enabling users to perform transactions and execute smart contracts that are not possible on the main chain due to scalability or functionality limitations. Sidechains can be designed to serve a specific purpose or to provide a specific service, such as private transactions, interoperability with other blockchains, or enhanced privacy and security.
 
How will Midnight help users?
Midnight is a Cardano sidechain solution that is designed to enable efficient, secure, and cost-effective smart contract execution on Cardano. The main purpose of this sidechain is to safeguard important commercial and personal data. In most of the Web2-based platforms, users do not have the authority and control over their own personal data. While keeping the visibility of the transactions on blockchain, Midnight will allow users to have autonomy and control over their own personal data.
 
How can developers benefit from Midnight?
Midnight is designed to address some of the scalability and functionality limitations of the Cardano main chain, enabling developers to build and deploy complex smart contracts that are not possible on the main chain. Midnight is being built with the aim of making smart contract development more accessible and convenient for developers. It will be designed to support a range of widely used programming languages, including Typescript, enabling developers to write smart contracts using the language they are most comfortable with. This will simplify the development process, making it easier and more efficient to create smart contracts on the Cardano network. Through the utilization of zero-knowledge cryptography and a unique blend of private and public computation techniques, the platform will establish a trustless ecosystem that guarantees the security and confidentiality of sensitive personal and commercial data.
 
Building decentralized Applications (dApps) in an easier way will allow the onboarding of a new wave of users at a fast pace. DApps are software applications that are built on top of a blockchain and are designed to provide decentralized services, such as peer-to-peer lending, decentralized exchanges, or social media platforms. DApps are often built using smart contracts, which are self-executing agreements that run on the blockchain.
 
With Midnight, developers can leverage the power of smart contracts to build complex dApps that are efficient, secure, and cost-effective. The Midnight sidechain also supports the issuance and management of custom tokens, which can be used to represent assets, currencies, or other types of value on the Cardano network.
 
Future is interoperable
Another key advantage of Midnight is that it is designed to be interoperable with other blockchains, enabling developers to build DApps that can interact with other blockchain ecosystems. This interoperability is achieved through the use of sidechain bridges, which are software components that enable the transfer of data and assets between different blockchains. With sidechain bridges, developers can build dApps that can leverage the strengths of multiple blockchain ecosystems, providing users with greater flexibility and choice.
 
Conclusion
Midnight is a Cardano sidechain solution that is designed to enable efficient, secure, and cost-effective smart contract execution on the Cardano network. Midnight enables developers to build complex DApps, but with improved efficiency and scalability. With interoperability through sidechain bridges, developers can build DApps that can interact with other blockchain ecosystems, providing users with greater flexibility and choice. As Cardano continues to evolve and mature, sidechains like Midnight will play an increasingly important role in the growth and adoption of the Cardano ecosystem.
Source:

#cardano #sidechain

In March 2023, developer Domo introduced the BRC-20 standard using the Ordinals protocol and Inscriptions, allowing users to issue and trade tokens on the Bitcoin network, similar to Ethereum's ERC-20 standard. The issuance of new assets created significant wealth opportunities, attracting the attention of many developers and venture capitalists to the Bitcoin ecosystem.With the rise of the Ordinals protocol and the BRC-20 standard, user-friendly asset management tools and trading markets became essential for participants. Unisat is a browser-based wallet focused on the Bitcoin blockchain, specifically on the Ordinals and BRC-20 standards. Leveraging its first-mover advantage, Unisat has captured a significant market share.

What is Fractal Bitcoin?
Fractal Bitcoin improves transaction processing capacity and speed by recursively creating infinite expansion layers on the BTC main chain using the BTC core code, while maintaining full compatibility with the existing Bitcoin ecosystem. Fractal creates multiple expansion layers on top of the BTC main chain, forming a tree-like recursive structure. This structure allows each layer to further expand in a "forking pattern," increasing the network's parallel processing capacity. Fractal possesses the following 6 characteristics:g capacity and speed by recursively creating infinite expansion layers on the BTC main chain using the BTC core code, while maintaining full compatibility with the existing Bitcoin ecosystem. Fractal creates multiple expansion layers on top of the BTC main chain, forming a tree-like recursive structure. This structure allows each layer to further expand in a "forking pattern," increasing the network's parallel processing capacity. Fractal possesses the following 6 characteristics:
Fast Transaction Speed: The block confirmation time on the Fractal network is approximately 30 seconds, and its transaction processing capacity is 20 times that of the BTC main chain.Native Compatibility: Fractal Bitcoin is developed based on the BTC core code, ensuring full compatibility with existing Bitcoin wallets, tools, and mining equipment.Dynamic Adjustment: The recursive system based on the BTC main chain can automatically adjust the number of expansion layers according to network congestion.Security and Traceability: All transactions conducted on the Fractal network can ultimately be traced back to the Bitcoin main chain.Cadence Mining: Every three blocks constitute a cycle, with two mined in a permissionless manner (anyone with suitable hardware can participate), and one mined through merged mining (targeted at BTC miners), balancing decentralization and security.Reapplication of OP_CAT: The "purified" OP_CAT is applied to enhance BTC's scripting capabilities.

Commentary on Fractal
Bob Bodily, CEO of Bioniq, shared his views on Fractal, summarized as follows:
Fractal Bitcoin is a Bitcoin sidechain: This is because it has its own miners and nodes, its own token, its own proof of work, and is completely separate from BTC. Comparing it to other BTC sidechains, Fractal Bitcoin combines the advantages of multiple BTC sidechains.Limited Smart Contracts: Fractal Bitcoin does not add new opcodes to enhance smart contract functionality, nor does it add a virtual machine. Its method is to re-enable OP_CAT to add smart contract-like features.Lack of Innovation in Bitcoin Bridges: The official documentation mentions MPC-based bridging, which essentially relies on the same trust assumptions as multi-signature.
In response, Unisat Founder and CEO Lorenzo commented that Fractal is making rapid progress in implementing smart contracts and cross-chain bridges. In terms of smart contracts, Fractal introduced OP_CAT during the testnet reset and plans to activate it on the mainnet starting September 1. This is the first step in enhancing Bitcoin's scripting capabilities with the support of the Unisat and sCrypt teams. Developers can explore potential programming capabilities with OP_CAT enabled on GitHub. Regarding cross-chain bridges, 3-5 methods for transferring assets from the Bitcoin mainnet to Fractal are under development, including both traditional and innovative approaches.
Sats and Pizza Surge
There has been debate within the community regarding the technology of Fractal Bitcoin. However, the secondary market seems optimistic about Fractal Bitcoin.
As the Fractal Bitcoin testnet progresses and the announcement of the expected mainnet activation on September 1, related BRC-20 tokens ORDI and PIZZA have seen significant increases. Additionally, SATS has surpassed the previous BRC-20 leader ORDI in market capitalization.

Note:
SATS will be used as the transaction fee on Fractal Bitcoin.
PIZZA is a MEME token airdropped for Unisat users.

#btcecosystem #sidechain #BinanceLabsInvestment #BRC20DEX

过去两年，加密行业发生了翻天覆地的变化，尤其是比特币生态，呈现出全新的生态特征，这不仅体现在出现了承载 TVL 的 BTC Layer 2 网络，还有希望获得被动收益的 BTC 链上玩家，以及在比特币现货 ETF 获批后大举买入比特币的传统合规机构群体，并逐步形成了围绕这些玩家和群体的生态系统和基础设施。
比特币生态的火热也推动了 BTCFi 生态系统的迅速发展，截至 2024 年底，BTCFi 的总市场规模接近 500 亿美元，比特币网络的 TVL 约 20 亿美元（已计入 Layer2 和侧链），仅占比特币总市值的 0.1%，而以太坊为 15.7%，Solana 为 5.6%，不少机构认为 BTCFi 仍有十倍增长空间。
在 BTCFi 这一赛道中，比较典型的项目有 Babylon、BounceBit、Solv Protocol、Bedrock、Bitlayer、Lorenzo Protocol、Liquidium 和 Shell Finance 等等，ICP 生态内的 BTCFi 项目有 Bitfinity Network、Omnity Network、Bitomni、Tap Protocol、Loka和 BitSmiley 等。
今天，让我们来认识另一位 BTCFi 赛道的重量级选手 - Side Protocol。

Side Protocol 由加密黑帮教父 Dave Hrycyszyn 与来自币安实验室的早期成员及多位加密极客合作构建，它结合了比特币原生脚本和签名技术与 Cosmos 底层技术架构，构建了一种新型金融基础设施，该协议的核心产品包括和公链一样高性能的比特币侧链以及原生借贷协议。
就在 2 月 5 日，Side Chain 主网 alpha 正式上线！
什么是 Side Chain

Side Chain 是 Side Protocol 的第一个产品，是第一条与比特币兼容的 dPoS 侧链，它建立在 Cosmos 堆栈上，包括 Cosmos SDK 和 CometBFT。
与其它基于 EVM 的比特币侧链不同，Side Chain 原生支持比特币 Taproot 和 Native Segwit 地址类型，允许用户直接从链上的比特币钱包签署交易，此外，Side Chain 有自己的比特币代表 sBTC，建立在由领先验证者运营的基于门限签名的签名网络上，通过与 IBC 协议的集成，sBTC 也可以在其它生态系统中使用。
随着 Side Chain 主网 alpha 的正式上线，之后将逐步推出多种产品和集成，最令人兴奋的是比特币原生借贷解决方案 - 一种利用 DLC 的流动性协议，允许用户以 BTC 为抵押进行借贷，而无需依赖第三方托管或链桥，该协议将于今年晚些时候发布。
Side Chain 由领先的比特币矿池支持，包括 Antpool、F2Pool、ViaBTC Capital 和 SpiderPool，它们已确认致力于在 Side Chain 上运行验证器节点，这些矿池合计占比特币网络哈希率的 49% 以上。

主创团队
Side Protocol 的团队背景可谓亮眼，核心成员均来自 Meta、币安、谷歌等知名 Web2 和 Web3 企业，拥有丰富的行业经验和卓越的技术实力。
其中，创始人兼 CTO Dave Hrycyszyn 是加密行业的资深专家，也是 Chainspace 的联合创始人之一，他与 George Danezis（Sui 联合创始人）和 Mustafa Al-Bassam（Celestia 联合创始人）共同创建了 Chainspace，该公司因其在高性能链研究领域的领先地位被 Facebook 收购。

在加入成立 Side Protocol 之前，Dave 担任隐私协议项目 Nym 的 CTO，成功带领团队获得了包括 a16z、Polychain 和币安等顶级机构超过 5000 万美元的投资支持，并推动项目顺利完成主网发布。
Side Protocol 已完成三轮私募融资，最后一轮融资的估值达到 1 亿美元，投资者包括 Hashkey Capital、KR1、Continue Capital、Symbolic Capital、Informal Systems、Dora Ventures、Charles Lu、Harry Halpin、Eric Chen、Mirza Uddin、Siddhartha Dutta 和 Vincent Niu 等。

代币经济学
虽然 BTC 是所有 Side Protocol 产品的主要资产，但 SIDE 代币是该协议的原生实用代币，在以下关键领域发挥着至关重要的作用：
价值累积：Side 被定位为比特币的金融层，具有明确的协议收入模式，Side Finance、Side Chain、Side Hub、Side Bridge、原生 DEX 和未来产品等产品产生的费用用于回购和销毁 SIDE，从而创建通货紧缩机制来提升其价值。支付交易费用：除了 BTC，SIDE 还可用于支付网络 gas 费用，这些费用适用于所有网络操作，奖励参与者并通过防止垃圾邮件和拒绝服务攻击来确保安全。质押：Side Chain 是 Side Protocol 架构的重要组成部分，它通过权益证明机制作为无需许可的网络运行，并支持协议内委托，与其他 dPoS 网络类似，用户可以将其 SIDE 代币委托给侧链验证者，在积极为网络安全做出贡献的同时获得一定份额的质押奖励。链上治理：SIDE 通过对关键网络决策进行投票，授权社区参与去中心化治理，包括协议参数调整、升级、社区资金分配和其他重要举措。

SIDE 总供应量 10 亿枚，分配如下：
生态储备：20%团队：18%社区金库：17%公募：15%私募：13%创世空投：10%流动性：7%

初始流通供应量为 229,000,000 枚代币（占总供应量的 22.90%），所有代币预计将在 TGE 四年后完全解锁，发布时间表如下：

主网上线后，Side Protocol 将发放总量的 10%，即一亿个 SIDE 代币作为创世空投，潜在空投对象：
比特币活跃用户NFT 社区（包括比特币 NFT 持有者）Cosmos 社区测试网用户公共物品

SIDE 代币空投分配将于主网启动后开始，为期 3 个月，现在您就可以去查看自己是否具有空投资格（genesis.side.one），自 2024 年 11 月 26 日启动检查和注册以来，空投活动异常火爆，已经有 20 多万用户地址获取了资格。

sBTC 激励计划
为了庆祝 sBTC 在 Side Chain 主网上的推出并鼓励早期采用，我们很高兴推出 sBTC 激励计划！
sBTC 激励计划第一轮
奖励：
每笔桥交易可赚取 100 SIDE，未来几轮中，每笔交易的奖励将会减少；初始总奖励池为 100 万 SIDE，将根据参与情况进行调整。
如何桥接
跨进和跨出交易均有资格获得奖励，请按照以下视频说明进行操作：

使用 Side Station（station.side.one）在比特币和 Side Chain 之间转移 BTC 或 sBTC；完成桥接交易后，您符合条件的代币奖励将自动发送到您的钱包，无需领取，只需连接您的钱包即可查看更新后的 SIDE 余额；注意：对于跨出，如果您没有 SIDE 代币来支付 Side Chain 上的 gas 费用，您可以将您的 gas 代币切换为 sBTC。
如何追踪您的桥接进度？
请注意，桥接每笔交易最多可能需要一小时，因为出于安全原因，每笔交易都需要在比特币网络上进行六次确认。
要检查您的桥接进度：
访问 Bridge -> Side Station 上的 Explorer 查看您的交易状态；将您的比特币地址输入“用户”过滤器以显示您的所有桥接活动。

如何处理 SIDE 代币
对于那些已注册 Genesis Drop 的用户，您现在可以在 Side Station 上查看您的余额，只需使用您注册的地址连接您的比特币钱包即可，您现在可以发送或质押您的 SIDE 代币。
我们建议将 SIDE 代币质押到您选择的验证者那里，作为委托权益证明（dPoS）链，质押不仅能为您带来额外奖励，还能帮助保护网络。
截至本文发布时，SIDE 的质押年利率已超过 25%。

展望未来
该区块链于 1 月 24 日上线，但只有 Side Bridge（sBTC）启动并运行后，它才算完全投入使用，协调 DKG 仪式并完成桥和激励计划测试花了几天时间。
如前所述，我们优先推出产品以推动使用和采用，这就是为什么当前的主网仍处于 alpha 阶段的原因，在加入更多合作伙伴并完成进一步集成之前，我们希望确保侧链在生产环境中可靠且具有弹性，在此过程中，我们将收集产品反馈并降低潜在风险，一旦这些步骤完成，社区就可以期待代币流动性事件的到来。

结语
展望未来，随着技术的发展，如 Layer2 技术将不断发展和完善，Rollups 等方案会更加成熟，为比特币的交易处理能力带来显著提升。
随着更多无需跨链桥解决方案的出现，也将使得比特币与其他区块链网络之间更安全、高效的资产转移和交互，比特币能够更广泛地参与到不同链上的 DeFi 应用中。
而借助如 rsk、avm、bitvm 等方案，比特币的智能合约功能将得到增强，从而能够支持更复杂的金融业务逻辑和应用。
以上这些技术的进步都将为比特币生态中的去中心化金融服务提供更强大的技术支持，实现更灵活的质押、借贷、衍生品交易等金融产品。
而随着 DeFi 的复兴，我们或许能够看到 BTCFi 的与现实金融的联结变得更加紧密，如稳定币在 BTCFi 生态中的应用将不断扩大，这将为跨境支付和国际贸易提供更高效、低成本的解决方案。

相关链接
官网：
side.one
Medium：
medium.com/@SideProtocol
Docs：
docs.side.one
Github：
github.com/sideprotocol

#SideProtocol #SideChain #SIDE #BTCFi

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