The notary can gain trust by relying on its own credit, or by making over collateralization through smart contracts. The notary will transfer the original Token in the intermediate account to the user’s address. When the user needs to redeem, the shadow Token is destroyed and proof is provided to the notary. The notary scheme means that the notary establishes an intermediate account, the user transfers assets to the intermediate account, and the notary issues a shadow Token to the user across the chain that maps the original Token. If A does not present s after the set time, the locked assets in the smart contract will be automatically returned to both parties. A and B lock their respective assets through the smart contract one after another. The principle is as follows: User A generates a random number s and calculates the hash of the random number h=hash(s) and sends it to User B. The hash time lock contract is a set of cryptographic methods to enable cross-chain trustless asset transactions, such as a transaction between A’s BTC and B’s ETH, to achieve atomicity of the transaction through a hash lock. In this way, we will introduce five cross-chain solutions respectively. We will further classify Notary, and Side chain/Relay into two sub-categories. Some of the current cross-chain technology forms are realizing asset interoperability, some are proposing a set of communication protocols to realize communication between blockchains, and some are proposing new system architecture and operating modes to support more blockchains Access.Īccording to the evolution and implementation of cross-chain technologies, Ethereum founder Vitalik once summarized 3 categories of cross-chain technologies, which are Hash Time Lock Contract (HTLC), Notary, and Side chain/Relay. With the current maturity of cross-chain infrastructure, the hype for the cross-chain concept has cooled down, let’s take a grim observation of the existing cross-chain technology form.Ĭross-chain technology is considered to be the holy grail of the development in the blockchain field and the key technology to realize the interoperability of all chains. The goal of cross-chain at the beginning was to allow assets to be transferred from one chain to another, and back again safely, and later expanded to solve the problem of mutual transfer, transfer, and exchange of assets and states on two or more different chains.
0 kommentar(er)
