A simple explanation of Bitcoin “Sidechains”

Richard Gendal Brown

Could sidechains be the enabler of “semi-decentralised” Bitcoin products and services?

An important paper was published this week:


If you’ve followed Bitcoin for any time, you’ll know this is aseriously eminent group of authors

It describes a way to build “pegged sidechains”. Sidechains themselves are not new – the idea, and how to build them, has been discussed for some time and the key breakthrough was outlined earlier in the year. But this paper gives more detail on the concept and has attracted a lot of comment.

But what are they? And why should anybody care?

A mental model for Bitcoin

The key to understanding most innovations in the Bitcoin space is to make sure you have the right mental model for how Bitcoin itself works. It turns out that most people I speak to don’t really understand how it works and, as a result, have a faulty mental model.

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Addition to Investment types

October 24, 2014

As of today we have added several ways you can use your Bitcoins as collateral to take long or short positions in the precious metals markets through the First Global Credit Investment service.


  • GLD – SPDR Gold Trust (trading @ about 118 USD)
  • SLV (Silver) – iShares Silver Trust (trading @ about 16.50 USD)
  • PALL – ETFS physical palladium Shares (trading @ about 76 USD)
  • GDX – Market Vectors Gold Miners ETF (trading @ about 20.40 USD)
  •  GDXJ – Market Vectors Junior Gold Miners ETF (trading @ about 31 USD)


  • NEM – Newmont Mining Corp: traded on NYSE (trading @ about 22 USD)
  • RGLD – Royal Gold Inc: traded on NASDAQ (trading @ about 66.80 USD

If you have anything you’d like to see included on the service please email your suggestions to Marcie.Terman@firstglobalcredit.com.



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Bitcoin 2.0: Sidechains And Ethereum And Zerocash, Oh My!

Bitcoin Portal

Published by Jon Evans on October 25. 2014 via TechCrunch

Strange, interesting, and wildly ambitious things are afoot in the world of Bitcoin and blockchains. I give you Zerocash, a completely anonymous currency; Ethereum, a blockchain platform designed to decentralize much of the Internet; and sidechains, a proposal to accelerate the evolution of Bitcoin itself. Any one of these could conceivably become a very big deal. All three? Prick up your ears.

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Straight Off the Chain

Bitcoin Portal

Published by 2bitidiot on October 23, 2014

The long-rumored and much-whispered about white paper outlining the vision for sidechains was released today, and for those who haven’t read it, especially the technically inclined, I encourage you to do so soon.

I think that this is the most important white paper in crypto-land since 2008.

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Because… What Even Is Informatics?

Because... liveliferandomx

For the past seven weeks I’ve been taking the course « Information Technology and Informatics (ITI). » While undeniably « interesting » sounding it also has that special ability to simultaneously sound like the gauging of eyeballs — what is this informatics nonsense you speak of?

Now before I get carried away on the magic carpet ride that is ITI, let me give you some back story. I signed up for ITI for the same reasons that many college students sign up for any given course — it’s going to satisfy those pesky core requirements. Sure there was some level of interest, but no real personal investment. And really, I had no idea what I had gotten myself into. My first instinct was that this course was going to have computers. Programming? Maybe. Technology? Check. Information? More than my brain could ever comprehend.

The summer before the semester started I told everyone about this elusive…

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