Two New Sidechains Proposals Could Change Bitcoin’s DNA (The Cryptoverse #142)

On today’s episode of The Cryptoverse:
A long-proposed bitcoin feature called ‘sidechains’ may soon take a big step forward thanks to a pair of proposals.

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  1. I see the failure in many discussions about sidechains arising from there not being any correlation or need to connect two "coins". In a very minimalist sort of way, a gift card bought with Bitcoin operates with many of the features of a side chain. While a simple purchase and consumption scenario represents a single peg, the "double peg" concept can be added simply by the implementation of a return policy by the issuing gift card company. The gift card is not, nor does it need to be, an "alt-coin". Why don't the proponents just sell their coin and buy the other one? And then, when done, they can sell them back again? It makes me wonder what their true motives are. Are they afraid of the market? Are they merely trying to manipulate the market? Trying to DESTROY the market? There is only a small potential to need to reverse transactions in a few limited cases so I fail to see the sidechain as being anything important enough to change the core Bitcoin code, especially when the same ends can be accomplished with just a small amount of centralisation in a vendor (such as a gift card company).

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