Innovatively launching the MOV agreement than the original chain, realizing the transaction, that is, the transfer, the smart contract

Since 2019, it has been more frequent than the original chain. Following the first multi-side architecture of Bystack in May, the innovative agreement MOV was launched again today, continuing to lead the public chain innovation.

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If Bystack successfully solves the dilemma of the blockchain "impossible triangle" through the "one main multi-side" architecture and lays the foundation for large-scale commercial application than the original chain, then the launch of MOV will be more self-contained than the original chain. The system is further extended to the entire blockchain ecosystem, achieving a more free and more efficient value flow of the value of diverse assets.

According to the MOV White Paper, MOV is the next-generation decentralized cross-chain Layer 2 value exchange protocol based on the Bystack main sidechain architecture, powered by the value exchange engine Magnet, the Center-to-Center Cross-Link Gateway (OFMF) and the Layer 2 high-speed sidechain ( Vapor) consists of three core modules, which are dedicated to building a heterogeneous and integrated value asset exchange and collaboration ecosystem .

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In addition to the Vapor that has already landed, the value exchange engine magnetic contract (Magnet) and the decentralized cross-chain gateway (OFMF) are the first disclosure of technical details.

In particular, OFMF, in August of this year, revealed the OFMF framework for the first time at the POW'ER 2019 Global Developers Conference sponsored by Mars Finance at the CTO of the original chain, which made the outside world look forward to it. The official launch of the MOV agreement allowed OFMF to fully surface.

According to the white paper, OFMF is the abbreviation of Open Federation Management Framework, which is a practical cross-chain collaboration framework based on the federation gateway. It has the decentralized governance of the gateway, the authenticity of cross-chain events, and the data of the unified cross-chain protocol. Features such as format, cross-chain message validity proof.

The whole framework is divided into three modules: the cross-chain coin/melt module, the federal management module, and the main communication module. Among them, the cross-chain coin/melt module realizes that when the main chain transfers assets to the gateway, it creates corresponding assets on the Bytom main chain and passes it to the Vapor side chain through the gateway again. The Federal Management Module is responsible for decentralized cross-chain asset co-hosting, managing the generation, storage, and signing of multiple cross-chain asset multi-signal private keys to handle collaborative governance between federated nodes. The primary side communication module is used to monitor cross-chain transactions between the main chain and the side chain for legality verification.

OFMF ensures the security and atomicity of the entire cross-chain message routing, has a complete governance structure and trust mechanism, transparent operation, integrated security hot and cold multi-sign managed system . Any other public chain ecosystem can independently access the interoperable network system in accordance with open protocol standards and access mechanisms. Based on this new cross-chain framework, there is an opportunity to derive a standardized consensus agreement in the future, resulting in better blockchain interoperability and network effects.

Magnet is the core engine of the entire decentralized value exchange protocol . We know that the original BUTXO model is a perfect interpretation of the essence of Transaction: the transaction is a transfer. Magnet further expands BUTXO's asset exchange capability and standardizes contracts, introduces a matrix transaction pair model, and can complete matrix swapping between assets in a transaction, making multi-asset match discovery and atomic swap easier to achieve, giving the lowest level of MOV. Efficiency value exchange engine support. Compared with the one-to-one synthetic exchange mode of the traditional decentralized trading DEX, the magnetic contract can form an asset portfolio exchange model based on the BUTXO multi-asset atom exchange feature, making “transaction is suitable”.

It is worth noting that in order to better adapt to Magnet, Vapor will be fully upgraded to Vapor Pro . First, the wallet module and kernel module integration support the magnetic contract based on the BUTXO model. Second, build a new open contract verification consensus, each consensus node can participate in the packaged block and verification match of the contract transaction. Thirdly, the decentralized value exchange protocol introduces "secondary modules" such as databases and business logic, and is bound to the kernel to implement sidechain DEX modules, virtual machine modules or other enterprise-level pluggable. Finally, the provision of chain predictor services, based on self-consistent self-driven chain-based value exchange ecological parameters and data, can form MOV's own decentralized financial predictor, data input, transformation and output complete chain operation, rules Transparent, providing secure and reliable objective data services for ecological expansion and DeFi application prosperity.

The MOV protocol subtly integrates the two concepts of “cross-chain” and “decentralized value exchange”, breaking a single cross-chain infrastructure or decentralized exchanges can only gather participants within their sphere of influence. And the drawbacks of liquidity facilities, in theory, allow any asset to access the network in a cross-chain form and decentralized free flow. The imagination is huge .

At present, Vapor has been officially launched than the original side chain, and the consensus node works well. With the official launch of the value exchange engine magnetic contract Magnet and the decentralized cross-chain gateway OFMF, the MOV ecosystem is ready to go.

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In the MOV ecosystem, the major players in the blockchain industry have built a self-consistent ecosystem, including transaction users, wallet parties, digital asset custodians, public chain project parties, liquidity facility providers, derivatives and DeFi applications. Etc. can be aggregated through decentralized value exchange scenarios to meet the diverse needs of privacy protection, chain credit, and chain predictors.

At the same time, the participation of all parties has also made the entire economic system self-consistent, and the large number of free participants have enjoyed the convenience of low-friction interoperability with various native service frameworks (Magnet, OFMF, Byone, Bycoin). At the same time, the exchange experience continues to contribute to its own liquidity value. These liquidity accumulations and premiums can further feed back and support ecosystem infrastructure builders (Vapor and Federation nodes) to complete economic replenishment and value-added efficiency.

Coincidentally, MOV is a data transfer instruction in computer assembly language that is used to transfer a data from a source address to a destination address. In addition, mov sounds similar to move, the latter means moving, and is more relevant than the original chain's mission, that is, value transfer.

In the past few years, people have carried out value transfer on the blockchain, more through the exchange. However, whether it is a centralized machine exchange or a decentralized exchange DEX, it is always impossible to provide a satisfactory experience.

The launch of MOV will fundamentally improve this situation . The boundary between the transaction and the transfer is blurred, and the transfer is just a transaction of the designated counterparty, which is a specific transaction. The so-called transaction combination is a transfer action that does not specify a counterparty, and is a BUTXO of asset easy assets (to Token Easy Token). The boundary between the exchange and the wallet is further blurred, and people do not have to transfer the assets to the wallet in order to transfer the value, and the value transfer can be realized in the wallet, and no third party is needed for order collection and matching.

This innovative idea of ​​“transaction is the transfer, the combination of smart contracts” is another initiative than the original chain team . The proposal of MOV will not only help Bystack to establish a more open external ecology, but also implement flexible and high-speed magnetic contract templates based on various SDKs provided by MOV, and will continue to promote the creation and enrichment of DeFi ecological scenes.

MOV White Paper Full Text Link: https://www.bystack.com/MOV_WhitePaper.pdf