Side Chain
By CoinGecko | Updated on Mar 03, 2020
A blockchain ledger that runs in parallel to a primary blockchain, where there is a two-way link between the primary chain and sidechain. This allows the sidechain to operate independently of the primary blockchain, using their own protocols or ledger mechanisms. Cryptocurrencies in the sidechain is connected to the main chain with the two-way peg, allowing users to transfer their assets to and fro.
Related Terms
ERC-721
ERC-721 is one of the most widely used token standards in Ethereum to create non-fungible, exchangeable tokens.
Altcoin
Coins althernative to Bitcoin
Distributed Ledger
Ledgers whose data is stored and synced across a network of nodes.
Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
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