The interoperability of the blockchain allows users to conveniently conduct transactions on multiple blockchain networks, but the blockchain also faces many problems that need to be solved urgently. Among them, the incompatibility greatly limits the application space of the blockchain. Therefore, the emergence of cross-chain has made the interoperability of blockchains stronger, and has the ability to share data and other information across multiple blockchain systems and networks. Value is exchanged and circulated. Regardless of whether it is a public chain or a private chain, it is the key to realizing the Internet of Value. It is a good medicine to rescue the blockchain from the scattered islands and a bridge for the expansion and connection of the blockchain.
Four mainstream cross-chain technologies
The two chains are mutually independent systems. When a cross-chain transaction is initiated, a "middleman" is required to undertake the information exchange between the two chains. According to different schemes such as "how to confirm the transaction", "where is the transaction confirmed" and "who will confirm", the cross-chain is mainly realized in the following 4 ways.
1. The notary mechanism: The "Alipay"
notary mechanism in the blockchain industry is a relatively simple type of cross-chain technology. Since the two parties involved in the transaction cannot communicate face-to-face to establish a relationship of mutual trust, to facilitate this transaction, an intermediary that both parties believe is needed. The notary mechanism acts as an intermediary in it, similar to Alipay, the solution is " "Pay first or ship first" is a security issue and reduces the cost of trust for both parties in the transaction. The notary mechanism is a two-way cross-chain, which can realize the exchange and transfer of cross-chain assets. It is relatively easy to operate using smart contracts between chains. The disadvantage is that it is easy to produce centralization.
2. Side chain/relay: Two-phase anchoring
is a relatively complex mechanism with many applications in cross-chain technology. The side chain technology can be realized through the relay method. The relay is the channel between the chains. If the channel itself is a blockchain, it is a relay chain. In reality, relays are used in nodes built between base stations and base stations to serve the multiple forwarding of signals. The relay technology does not rely on a trusted third party to help it perform transaction verification, and can verify itself after receiving the data. Therefore, compared with other cross-chain technologies, the relay solution is more flexible and easy to expand, and can support cross-chain asset exchange. And transfer, cross-chain contracts and asset mortgages.
3. Hash lock: The public password lock
hash lock mode refers to a mechanism in which the user guesses the original value of the hash value to pay for the specified period of time. The two people use a password to obtain assets and use time. Locks and smart contracts guarantee the atomicity of transactions. Simply put, based on the smart contract, both parties lock the assets first, and if they both enter the original value of the correct hash value within a limited time, the transaction can be completed. Under such a mechanism, the rapid confirmation of micropayments can be achieved, that is to say, the goal of rapid confirmation of the Lightning Network can be achieved.
4. Distributed private key control: lock-in and unlock
of assets. In order that the assets on the original chain can still be traded across chains, the distributed private key control technology introduces locking and unlocking operations to map cryptocurrency assets to Based on the built-in asset template of the blockchain protocol, new smart contracts are deployed based on cross-chain transaction information to create new cryptocurrency assets. Since the distributed private key masters the user's private key by entrusting the decentralized network, and the user also masters part of the private key of the agent's own assets, there is no third party holding the private key.
Mainstream cross-chain application scenarios
Many blockchain projects are independent and closed systems, unable to communicate with each other, the old "islands" disappeared, and new "islands" were created. This requires cross-chain technology to solve, and the original driver of cross-chain is still demand. From this perspective, cross-chains are more likely to be used in scenarios where data/information throughput is large, such as finance, medical care, and the Internet of Things, and different chains/ecological interaction needs are strong.
1. Financial technology
must realize the digital value transfer and asset exchange of the entire industry network and partner ecosystem through cross-chain technology. Digital cryptocurrency and assets can be transferred, mortgaged and used in different chains, and are mainly used in the field of financial technology.
2.
With the support of cross-chain , the supply chain can also realize the trade of bulk commodities between industry chains, activate the liquidity of various assets in the society, truly empower the real economy, and help producers and processors to better understand consumers. Demand and market trends.
3. Cross-industry supervision
ensures that the supervision of numerous industries and business alliances can be penetrated in an efficient and credible manner. At the same time, it can be ensured that supervision information and data can be transferred transparently and efficiently in the overall system of the supervisory institution, and even cross-supervisory institution collaboration Greatly improve the efficiency and service level of government supervision and governance.
4. General services or assets
For general services or assets, such as distributed digital identity (DID) or digital asset issuance, the service itself may be running on a set of multi-party consortium chains. Through cross-chain technology, relevant services or assets are connected to the blockchain business network of a wider industry to realize service invocation or asset circulation.
Mainstream cross-chain projects
In many new projects, we can all see cross-chains. In ETH2.0, the current most advanced cross-chain solutions are widely used. EOS is also actively participating in the application and promotion of cross-chain technology, and the Polkadot cross-chain project itself is also advancing. Cross-chain is no longer just an independent solution and development plan, nor is it a single project development direction, but a basic technical support integrated into the development of the entire public chain. The cross-chain ecology not only includes the public chain, but also covers Consortium chain, private chain, as well as IOT equipment, various AI, cloud, etc.
1. Cross-chain infrastructure: Polkadot and Cosmos are the representatives of existing cross-chain technologies that pay more attention to cross-chain infrastructure.
2. Multi-currency smart contracts: As a public chain with application value, FUSION can produce a wealth of cross-chain financial applications on the chain.
3. Asset transfer: Early cross-chain technologies include Ripple and BTC Relay as representatives.
Cross-chain brings the next-generation blockchain ecology.
In addition, there are emerging projects in the fields of cross-chain oracles, asset retention, and universal cross-chain contracts. Solutions based on cross-chain technology have almost become an important technical foundation for the development of the blockchain industry, and iterations and updates on this basis are being actively promoted and expanded. The public has gradually seen the practical significance of cross-chain solutions, but a true cross-chain ecology has not yet been formed, and it needs to be verified through time and projects.
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