Steemit Crypto Academy Contest / S14W3 -Sidechains

Hope you all are doing well and good and enjoying the best days of your life. This is me @shahid2030 from Pakistan and you are here reading my post. You all are welcome here from the core of my heart.

This is my participation in a contest Sidechains organized in SteemitCryptoAcademy by @crypto-academy.

Source / Edited with Pixellab app.

A sidechain in the context of blockchains is an auxiliary or helping blockchain. It's function is to operates alongside with a main blockchain. This allows the transfer of assets or data between the two chains. It makes ease the burden on mainchsin, It improve scalability by offloading certain transactions from the main blockchain to the it's function is somehow same as that of plasma Blockchain, but exact that one.

The scalability of the main chain increases if the side chain handle some of the Minor functions and issues. The main chain will be free to respond to the major actions with in the system. Plasma chain and side always provide scalability to the main blockchain.

Source / Edited with Pixellab app

The job of main Blockchain is far different than that of side Blockchain. It's function is to handle major activities on the Blockchain. Let me mention some important activities handle by Main Blockchain.

Transection Validation: All the transections are valited within main Blockchain. The record has been added to the blocks of the Blockchain.

Smart contract Execution: In crypto many Blockchains are smart contract self executing system. This main blockchain executes and enforces these smart contracts, which enable programmable and automated transactions.

The creation and distribution of crypto currencies: In blockchain system we know that, with native cryptocurrencies, the main blockchain is responsible for the creation of new units of the cryptocurrency (e.g., mining or minting). Then it distribute them to participants according to the network's rules.

Security: The main blockchain is responsible for the security of the entire network. It's one of it's crucial responsibilities. It's functions like: consensus mechanism, cryptographic principles, and decentralized nature help prevent tampering, fraud, and unauthorized changes to the ledger.

There are some other too, Like: Network Governance, Decentralized Ledger, Consensus Mechanisms you can search it on Google about it.

On the other hand Side chain's functions are very limited compared to the main one. It runs parallel to the main blockchain but work on it's own mechanism, principles and rules. It also works on consensus mechanism. It enables specific transactions or processes to occur off the main chain. So as I have mentioned earlier it is always as a helping chain to the main chain.

Source / Edited with Pixellab app.

Yes with surety steem Blockchain have a side chain attached to it. This chain is called the Steem key chain. This side chain or key chain performe too many activities here. The most prominent one is users can use it for the creation of their own custom tokens at steem blockchain. Here the programmers can launch their smart contracts on it and interact with existing ones.

Another function of it that we have already discussed that side chain is always use for the fastest transection. Not merely in Steem Blockchain, but in every Blockchain. Same is the case here. Steem keychain is used to make the transections more fast on this Blockchain system. Hence it increases the scalability of the main steem Blockchain.

In Blockchain system many dapps and smart contracts run on the sidechain. The side chain manage them. Steemit platform is running it's dapps it's sidechain too.

Side chain can bring about too much advancement and diversity in the Steemit platform. As we have discussed the benefits of side chain above. If this side is being used by other programs and other tokens are launched on the Steemit Blockchain then we can see it's huge positive effects on the main Blockchain. The Steemit and steem coin will directly get benefited from it.

As for now their is no other token launched on Steemit using it's Blockchain. So Steemit has on interaction with other chains except his own main Blockchain.

Source / Edited with Pixellab app.

•The term Interoperability can also be introduced. Interoperability means the exchange of data amoung different Blockchain. So we can use the side chain to enable other different blockchains to connect with Steemit blockchains.

All these contracts will have positive effects on Steemit platform. Steemit will get recognization in the crypto market and we can see a good pump in Steem coin price too.

As we have discussed all the benefits of side chain working along with the main Blockchain. Ofcourse working of side chain will provide scalability to the main Blockchain. So if a new project is introduced on steemit sidechain it will get improved very fast. The relations of Steemit with new projects will make it more stronger and trust worthy. We can directly see it's effects on the price of steem coin.

As we talked about scalability, so sidechain will also make Steemit users friendly. It will cost low fee. Investor will must get interest in such project when they see the transaction fee is so low. They will put their capital in Steemit platform which will generate a good steem liquidity. We can see it's effects on the steem coins too.

This is all about my blog for today, hope you guys have enjoyed reading it. See you soon with a new amazing and interesting topic, till take care.