Scino Chains

The scino chain is also sometimes referred to as a remora chain. It gets this name from the Remora, which is a fish that attaches to another fish for its own benefit, but it neither helps nor harms its host.

While these blockchains may have some technical merits and offer you access to other features, the existence of a separate, often competing non-Bitcoin money economy makes them non-sidechain and should alert bitcoiners.

In addition, scino chains don’t have a way to force final settlement back to the base chain, so you’re often at the mercy of this network once you’ve handed over your bitcoin and received your representative or wrapped bitcoin on these scino chains.

A new blockchain with a money token tries to capture a share of the store-of-value market and effectively works against Bitcoin by creating new inflation. As long as it competes instead of using bitcoin to pay for fees, settle transactions and pay for services, it inflates the supply of store-of-value coins while eroding its qualities of such. Therefore any token-collateralised scino chain is, in fact, to some extent leeching Bitcoin rather than assisting it, despite the marketing narratives they try to push out.

Bitcoin does have layer two solutions with a blockchain like the Liquid Network as well as those without blockchains; these overlay protocols are Counterparty, Omni, and the Lightning Network. These networks offer scaling solutions without the need to take on the network counterparty risk or exposure to conflicting assets.