Sidechains are not specifically specific to a blockchain, but rather refer to all blockchains that adhere to the sidechain protocol, which is relative to the bitcoin backbone. Sidechain protocol refers to a protocol that allows Bitcoin to be safely transferred from the Bitcoin backbone to other blockchains and safely returned to the Bitcoin backbone from other blockchains.
Obviously, all existing blockchains, such as Ethereum, Litecoin, and Darkcoin, can be sidechains as long as they conform to the sidechain protocol.
THOR digital financial one-stop application system considers the sidechain protocol to be of great significance, because not only does it mean that Bitcoin can be circulated in the Bitcoin blockchain, but also can be circulated in other blockchains. Its application scope and application prospects will be More extensive; THOR digital financial one-stop application system will develop a variety of applications to link the main chain with a side chain protocol.
THOR Chain uses a relay contract to connect different main chains directly to the THOR Chain for all backbones that support smart contracts. At the same time, in order to ensure the accuracy of each cross-chain transaction, each cross-chain trading contract must be hashed and verified on the chain to ensure the correctness of the transaction.
Faced with different application scenarios, some main chains and physical assets do not have smart contract functions. To ensure that users can use them in the THOR ecosystem, the corresponding asset sidechains are released based on the THOR Chain main chain to ensure 1:1 mapping of all non-contracted assets. At the same time as the transaction speed is guaranteed, the user can query in the blockchain at any time and verify the authenticity.
The side chain technology makes up for the lack of performance of the main chain, and opens up the channel of value transfer between the chain and the chain, enriching the ecology of the main chain. In the future, the whole ecological construction of THOR digital finance one-stop application system will be improved with the maturity of side chain technology, and the blockchain infrastructure will be perfected. Sidechains can be used for payment, asset issuance, decentralized trading, and gaming betting. Other fields play a more important role.