Blockstream's Distributed Systems - dummies

Blockstream’s Distributed Systems

By Tiana Laurence

Blockstream has an excellent reputation in providing blockchain technologies and has a primary focus on distributed systems. Blockstream offers hardware and software solutions to organizations utilizing blockchain-based networks.

Blockstream Elements is the core software platform of the company and a segment of an open-source project. It offers several resources and a highly productive protocol for blockchain developers.

Blockstream’s major field of innovation is in sidechains, which scale the utility of existing blockchains, enhancing their privacy and functionality by adding features like smart contracts and confidential transactions. Sidechains avoid liquidity shortages that many cryptocurrencies experience. Sidechains also permit digital assets to be transferred between different blockchains.

Sidechains make it possible to practically trade company shares on a blockchain without worrying about transaction cost or slow network speeds. Distributed asset management infrastructure can also leverage the Bitcoin network, permitting individuals and organizations to issue different asset classes.

Blockstream also has worked to create the Lightning Network, a system that lets Bitcoin support micropayment without slowing down the network. The Lightning Network support high volumes of small payments using proportional transaction fees and operating very fast. It’s developing more Bitcoin Lightning prototypes and creating consensus and interoperability.