Watch / Sidechains Are Not Layer 2

Sidechains Are Not Layer 2

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Sidechains Are Not Layer 2

Duration: 00:20:06

Speaker: Georgios Konstantopoulos

Type: Talk

Expertise: Beginner

Event: Devcon 5

Date: Oct 2019

In this talk we argue that sidechains are strictly an interoperability protocol, and any attempt at describing them as scalability solutions is misleading. Proof of Work sidechains require each chain to be individually secure, and thus make a double honest majority assumption. Proof of Stake sidechains rely on DMMS-like mechanisms, but even with proper short-long range attack protection they have a different security model to a Proof of Work chain. On the other hand, Layer 2 is a set of mechanisms which allow state to be manipulated more efficiently than the base layer, while inheriting the base layer's security. This is achieved through fraud proofs and client side validation or validity proofs which enforce valid state transitions.

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About the speakers

GK

Georgios Konstantopoulos

Lead Plasma Researcher

Georgios is leading Plasma Research at Loom Network. He holds a MEng degree in Electrical & Computer Engineering. He previously worked at Honda where he did his thesis on metering and billing of energy with smart contracts. He has also worked as an independent smart contract auditor and pentester.He is interested in all-things-blockchain as well as cryptography, IoT, infosec and autonomous vehicles.

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