Recently, I learned from the original chain technology team that they have developed and tested a cross-chain atomic asset exchange tool, which is a new type of decentralized cross-chain atomic asset exchange tool that can be implemented in the same Different assets are exchanged on one chain, and assets can be exchanged on different blockchain platforms. The technology is currently at the top level of the entire blockchain industry, which can effectively guarantee the complete decentralization and security in the process of asset exchange, and can be used in a variety of application scenarios!
First, let's take a look at how the tool implements different asset exchanges on the same chain. Let's look at the following diagram:
- Review of the state of the blockchain network in 2019: BTC and ETH are far ahead
- Will Synthetix be the first Defi to replace MakerDAO?
- Bitcoin becomes the most profitable asset in 2019, and Chinese real estate is rarely a loss-making asset
- Introduction to Blockchain 丨 Analysis of the methods and advantages and disadvantages of physical asset chaining
- Dalio 7600-word long article: What does zero interest rate mean?
- The Great Migration of Value Growth Anchors - Blockchain, Southeast Asia and Real Estate Collisions
When different assets are exchanged over the original chain, the entire transaction is realized by Tradeoff. Assuming that A wants to exchange ETH assets with B, A only needs to initiate a Tradeoff contract, and B only conducts the contract. An unlocking operation completes the exchange of assets. The whole process is initiated by the contract, without the participation of the three parties, it can be completely decentralized and safe. The entire exchange process is an atomic transaction that guarantees the integrity and smoothness of the exchange.
After talking about the different asset transactions in the same chain, let's look at how different blockchain platforms borrow the shuttle tool to complete the complete exchange of assets. As shown below:
There are A and B addresses on the bytom chain, and A and B want to exchange assets. First, A will initiate an HTLC (Hash Time Lock) contract on the bytom, that is, send a BTC transaction, lock it in the contract, and then send the corresponding contract information to the B on the vapor through the shuttle, B through the contract information. Unlocking (an ETH is initiated during the unlocking process), through which A and B can exchange assets on different two blockchain platforms.
After introducing the basic principles of the tool, we clearly see that the tool has many advantages. First, the entire process of asset exchange is completely decentralized and deployed directly on the chain through contracts, without the need for separate hosting. Its trading process is to trust the transaction, that is, the transaction can be initiated directly without the need for the parties to establish trust. The entire transaction process is a peer-to-peer transaction that can effectively resist censorship. At the same time, the atomic transfer of assets.
At present, the technology is rarely implemented by the public chain and its technical community in the entire blockchain field. It is a public blockchain platform in the asset field than the original chain, and its main sidechain architecture is coupled with the shuttle tool. It can effectively ensure the cross-platform circulation of assets and the security and timeliness of assets in the process of cross-platform transfer. It laid a solid foundation for the transfer of the entire digital asset. Helping the transition of digital assets and constructing the entire Tongzheng economic network.