#AskSkcript: What are Sidechains in Blockchain?

(Skcript Bot) #1

Ask Skcript is an advice column for people to understand complex technology in a simple way from us. We try to keep the answer as simple as possible.

Q: What are sidechains in blockchain? How are they used in real-world?

A: In simple terms, sidechains are small blockchains that can inherit tokens from a primary blockchain with its own tokens. The process in which this token sharing happens is called sidechaining.

When one blockchain allows its tokens to be securely used in another blockchain (which is in a different network with a whole different set of smart contracts), the mechanism is called Sidechaining and the blockchain that is receiving this secure shared token in called a Sidechain.

Currently, platforms like Simpletoken make it easy for anyone to create a Sidechain.

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This is a companion discussion topic for the original entry at https://www.skcript.com/svr/askskcript-what-are-sidechains-in-blockchain/