Two-Way Peg

      A ‘Two-way Peg” is a mechanism used for sidechain & second layer project implementations.

     This implementation is typically structured like so; locking up cryptoassets on the original chain in a multi-sig smart contract and receiving the appropriate proportions of new assets on the sidechain. Should the asset owner have the want or need to get their original assets back, all they simply must do is destroy the remaining side-chain assets and claim their proportionate locked up assets.

(important note, if less assets are destroyed then were originally claimed then the difference is balanced to the sidechain projects predefined developer addresses to fund operations.)

      Related Terms:



BTC: bc1qcskmel9llhrdqj3arxyqnennx4ashvfutlreyy
LTC: ltc1qa0fj4lcu5365rep50aza5fqqvx8ef0afemh6s5
ETH: 0x071D72dbc48ad2Fe35daE256eCF0834C5dde688c
DASH: XgXHqVyJiQNdVVszH9cnqCP4uWcP8tVxdK
BNB: bnb1mau4j8kry0jgw45ufy69hvhd0k04llet8fk2p6

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