A number of applications are being built on Bitcoin and there is a natural evolution taking place. Sidechains could be the next step in boosting Bitcoin adoption as they allow for scalability and customizations while retaining Bitcoin´s security properties.
Bitcoins and other ledger assets can be transferred between multiple blockchains by a sidechain. It enables users to access new and innovative cryptocurrency systems using their existing assets.
Built on top of the Bitcoin-blockchain, e.g. the Lightning Network pushes the boundaries of Bitcoin payment capabilities with lower costs and faster speeds. Taking advantage of Bitcoin´s trust-minimized features, industry leaders like Microsoft work to build a decentralized identity platform on the Bitcoin-blockchain.
MVIS CryptoCompare Bitcoin Index
Source: MV Index Solutions. Data as of September 2019.
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