Gem's Use of Elements & Sidechains

Learn about how Gem is using Elements in their sidechain implementation.

Matt Smith

Our interest is mostly in the asset issuance implementation I’ve been discussing with Jorge. We’re currently prototyping blockchain-based systems that track ownership of arbitrary asset classes. While we’re also working with other technologies that apply asset issuance as a protocol on top of a blockchain network like OpenAssets, there are features required for some applications that we can only get out of native, consensus-enforced asset management.

Additionally, we use Confidential Transactions for (among other things) implementing a subset of the access controls in those systems, and having a working implementation of CT (which is compatible with asset management) is an huge boon.

Finally, we’re exploring use of the two-way peg itself, demonstrated by Alpha, to build interoperability into these systems from the beginning. Cross-organizational compatibility of asset tracking systems comes for free as long as those systems are build on a chain with a sufficiently expressive scripting language and that’s a big win.