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If they can, then isn't that messing up the 21 million coin distribution? Call the main bitcoin chain is chain 1, and some new side chain chain 2. Because after such a transaction, the resulting UTXOs are not fully chain1 or chain2 assets. But now chain 2 is making it's own BTCs (chain2-assets). Can these chain2-assets be moved back to chain 1? If not, is it safe to do transactions on chain2 that mix chain1 and chain2 assets? If we move BTCs (chain1-assets) over to chain 2, bitcoin then we hope that we can move them back to chain 1.
Obviously, it would be problematic if anyone could put in a certain amount of Bitcoins into a sidechain, and get out more/less than what was originally put in. Sidechains cannot create the same asset that is pegged to Bitcoins to use as a reward for mining.
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In this interview, we discuss how LNbits helps to decentralize custodianship and how Bitcoin’s widescale utility outweighs the environmental FUD. Ben Arc is a free open-source software advocate and founder of LNbits.
And once they were used in transactions, how could they be accounted for to know which coins can and which coins can't be moved back to the main chain? If mining can be done on these side chains, then it seems like too many coins could be created.
He moved to Australia in 2010, where he transitioned to analysing the Aussie equity markets. Following several years writing about the tourism industry in the Caribbean, he moved to The Netherlands to cover the EU's booming commercial real estate markets. Bernd Struben earned his economics degree in the US. He employs a combination of macro economics and company specific data to gauge what he believes are tomorrow's best investments. In his free time, you're likely to find Bernd at the beach or dabbling away on a new work of science fiction.
The What Bitcoin Did Podcast is a tri-weekly Bitcoin podcast where host Peter McCormack interviews experts in the world of Bitcoin
development, privacy, investment and adoption. Launched in November of 2017, the podcast has grown to over 500 episodes with a guest list that is a testament to the diversity of knowledge and opinions that represent the broader Bitcoin community.
views , the directory where the template files are located. This defaults to the views directory in the application root directory. view engine , the template engine to use. For example, to use the Pug template engine: app.set('view engine', cryptocurrency 'pug') . Eg: app.set('views', './views') .
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This gave blockchain transactions authenticity, immutability, and privacy. In 1991, the blockchain concept was invented as a way of verifying contents within a document using an immutable time stamp. The blockchain was designed as a way of authenticating what’s in a document and time-stamping the verification without revealing what’s inside the document.
You can exchange a chain1 asset with a chain 2 asset on the side chain with someone, but you can't just magically convert a chain1 asset into a chain2 asset and vice versa. chain1 and chain2 assets cannot be "mixed" on the side chain because they exist as different coins on the sidechain blockchain. the chain2-assets cannot be moved back to the main chain for the reason you state.
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You can continue to use Jade in your app, and it will work just fine. However if you want the latest updates to the template engine, you must replace Jade with Pug in your app. Note : Jade has been renamed to Pug.
Transaction fees is one example that is also used in Bitcoin. However, there are many other ways to reward miners. The sidechains paper lists some alternative reward mechanisms in section 6.1 such as demurrage (percentage of held coins are redistributed automatically to miners) and creation of a seperate unpegged asset on the side chain to reward miners.