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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.

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Related Terms

Enterprise Ethereum Alliance (EEA)
Enterprise Ethereum Alliance is made up for a group of Ethereum developers, corporations as well as startups who are collaborating to find ways to use Ethereum for business applications.
Stablecoin
Cryptocurrency with a price peg to fiat currencies or commodity.
Ponzi Scheme
A Ponzi scheme is also referred to as pyramid scheme, and typically takes the form of an investment scheme which pays existing investors with funds collected from new investors.
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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