Among the applications of a sidechain, the creation of smart contracts of greater complexity than the natives of Bitcoin, increase the scalability and speed of transactions and interconnectivity with exchange houses, among others, stands out.
Research on sidechains gained further momentum in late 2013 and early 2014, as the debate over Bitcoin's scalability issues began to intensify and alternatives were sought in response to the proposal to increase the size of blocks.
There are said to be 2-way-peg when both currencies can be freely, automatically exchanged between chains without paying more than transaction fees and without incurring price negotiation.
All in all, the design of this type of sidechains can still be perfected, that's why a new side chain proposal called SyncChain has been made.
SyncChain enables much faster inter-chain token entry and exit without sacrificing security against double-spending attacks and reducing inbound and outbound connection times.
Although SyncChain offers many benefits over a Simplified Payment Verification (SPV) side chain, it is too early to start seeing operational, encryption, testing, simulations and security audits should validate every design decision.
More information:
https://www.criptonoticias.com/tecnologia/syncchains-evolucion-sidechains-bitcoin/
https://blockgeeks.com/guides/syncchains-the-evolution-of-sidechains/
