Adam Back "BTC is evolving, supporting automatic trading with sidechain"

Attempts to utilize Bitcoin in various ways through sidechains connected to it are spreading, said Adam Back, CEO of Blockstream and inventor of the PoW algorithm.

At the Korea Blockchain Week(KBW2019)’s main conference in South Korea, held in Seoul, Oct. 1, Back said unlike TCP/IP, the Internet's underlying technology, Bitcoin continues to evolve. "The ideas that allow us to use Bitcoin in more places are being realized through a sidechain called Layer 2," he added.

"Through sidechain, we can further strengthen security, protect personal privacy, and solve slow transaction speed problems. A typical sidechain is the Liquid Network being developed by Blockstream," he explained.

"The Liquid Network will continue to evolve in the future. It also developed its own development language ‘Simplicity' to enable users to use smart contact with bitcoin," said Back. "Next year, the development language of Simplicity will be used to introduce Bitcoin-based blockchain service or payment service."

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