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Privacy and security concerns in blockchain led to the introduction of the concept of Sidechains into the crypto world.
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It is a separate blockchain network linked to another blockchain through a two-way peg.
Bitcoin, the very first cryptocurrency, led to the widespread usage of blockchain technology in the crypto industry. With time, the technology expanded its roots to the fields of smart contracts and decentralized apps. Profound growth in traffic gave birth to challenges regarding privacy, security, and scalability. The introduction of sidechains, thus, mitigated these issues to an extent.
What is Sidechain?
A sidechain is a separate blockchain network linked with another blockchain, generally known as the mainnet or parent blockchain. The connection is established via a two-way peg, allowing the movement of assets without any second-party risk.
The concept of sidechain came into existence in October 2014, when Adam Back, the creat
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