

Sidechain Elements - elidourado
http://elementsproject.org/

======
drcode
TL;DR

These developers are working on a way to create another blockchain that is
separate from the Bitcoin blockchain but allows you to move Bitcoins back and
forth in a safe way. The name for the second blockchain is "Elements". By
doing this, they can add features to Bitcoin that Bitcoin itself doesn't
support, but you can still use standard Bitcoins.

Unfortunately, for "Elements" to be fully functional, it needs some
programming tweaks in the main Bitcoin software, so right now it isn't 100%
working the way it needs to (they have to use central servers as a shimmy).

I highly recommend the video on the page, it covers a wide number of
interesting Bitcoin stuff and is totally free of fluff (very refreshing for
what is ostensibly a marketing video)

~~~
tlrobinson
_(they have to use central servers as a shimmy)_

Federated, not central:

 _The initial sidechain included in Sidechain Elements works on a federated
security model; while it’s still peer-to-peer and consensus-based, security
for the blockchain is provided by a set of predefined functionaries in an
arrangement called a Fed-Peg. A number of academic groups and individual
contributors have agreed to run the Sidechain Elements Fed-Peg, including
blockchain groups at Stanford, MIT, and Princeton. The sidechain does not
include mining or proof-of-work at this point._

[https://blockstream.com/2015/06/08/714/](https://blockstream.com/2015/06/08/714/)

