Paul Sztorc calls himself the "Bitcoin expert's expert." Now a researcher and blogger at Truthcoin, Sztorc bought his first Bitcoin in 2011. He joined Roundtable at Bitcoin Miami to talk about the evolution of the blockchain and how Bitcoin can transform money as we know it. In this segment, Sztorc discusses the potential he sees in the sidechain.
Sztorc sees sidechains as the next exciting space for Bitcoin innovation.
"In recent times, Bitcoin has slowed down and become more conservative, and a lot of creativity has moved to different coins, but the sidechain is an attempt to pull all of that back in to Bitcoin," he explains. "It lets you build layer two on top of Bitcoin where you basically send the coins to a different piece of software. So you have something that emulates Ethereum or Manero or Z cash or whatever. We have one of those right now in testing."
While sidechains have yet to fully catch on, Sztorc urges fellow blockchain aficionados to explore their potential.
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"We need Bitcoiners to support that idea in order for them to take advantage of this technique," he says. "I hope people will eventually see that it's inevitable that they have to do it."
Watch the full discussion below:
Paul Sztorc, Researcher, Truthcoin