Horizen’s Sidechain Node Goes Live on Devnet
Horizen has announced the release of its first sidechain on devnet. The success of which could mark the beginning of Horizen’s product offering of Sidechain-as-a-Service to businesses and developers.
The project’s sidechain which has been in development for over 7 months will bring Horizen one step closer to completing its Sidechain SDK and Cross-Chain Transfer Protocol.
The team has revealed that the first Sidechain will allow them to integrate independent node components. It also has 4 independent elements – state, history, wallet and a memory pool. Work is still ongoing to build the API, interfaces, and consensus. All things being equal, the Sidechain Alpha is expected to go live by Q4 2019.
Horizen’s sidechains will allow everyone to introduce exciting new functionalities by developing blockchain-based applications that are able to safely exchange coins with the mainchain in a decentralized and distributed way. Horizen’s sidechain SDK will hide the complexity of the cross-chain transfer protocol and will provide a solid base for blockchain-based application development.
A sidechain is a parallel chain, independent of the mainchain. It is designed to have desired features that supplement the mainchain. Multiple sidechains can be deployed without tampering with the mainchain. For example, Bitcoin can implement a sidechain for smart contracts or privacy without touching its core blockchain.