The multi-chain era broke out from 5 perspectives to fully explain those new “promising” solutions
“If you want to get rich, build roads first.”
I believe that as long as you are not too young, you should be very familiar with this slogan. What does this have to do with blockchain? Because we have also begun to “build roads”, but here, we call it “bridge”.
There was only one Ethereum in the world , just like a big village, where all the production and consumption activities are there, blacksmith shops, farms, money houses, bazaars…everyone is very close to each other, there is no “road” problem.
Now the blockchain has officially entered the multi-chain era. Many other villages have opened next to the Ether Village. Although they are not as large as the Ether Village, they also have their own blacksmith shops, farms, money houses, and markets …
Slowly, many villagers who disliked that Ether Village was too crowded and expensive to “immigrant” went to other villages. Gradually, there were more people in several villages, and the days when Ether Village was dominated by a family were completely over.
Then the road construction was officially put on the agenda. After all, there still needs to be economic and news exchanges between several villages, and many villagers’ funds also need to be transferred between each village.
So the question is, how should this road (bridge) be repaired? Smart people thought of the following methods:
Find a bank
Ether Village originally had several large banks, such as Bian’an and Shuibi. As the surrounding villages gradually became prosperous, they also opened branches in several other villages, because these banks have always had a good reputation. , So the villagers also trust them.
When capital turnover is needed, or when money is sent to other villages, these banks are often found. They also provide fund deposit and withdrawal or turnover services for each village. This is the earliest commonly used CEX solution.
Strictly speaking, this cannot be regarded as a “bridge” at all, but it is indeed a simple and effective solution, or the only solution before the bridge era.
However, only money houses are not enough. After all, money houses may also go bankrupt, and more importantly, in a “decentralized” environment such as the blockchain, such an important business always needs the help of “centralized” money houses. Dealing with it, it’s so shameless…
So there are several other options.
Single point of external verification
Putting aside the drawbacks of bank centralization, in many scenarios, bank houses are completely unable to meet people’s requirements.
For example, in the hands of villagers bit Bitcoin , in fact, every village will recognize, but the Bitcoin can not bring out a bit village, people want to use Bitcoin village or other villages in the ether, how to do it?
Someone found a respected elder who did not belong to any village, and discussed with him this: If the villagers of Bit Village come to the elder to deposit a certain amount of bitcoin, the elder will send him a note, this Bills can be circulated freely in the Ethereum Village, and the denominations represented by the bills are equivalent to the bitcoins deposited by the villagers in the elderly.
At the same time, the bitcoins deposited by the elders are also “locked up” with the elders and cannot be circulated until someone uses a ticket to “unlock” these bitcoins.
The advantage of this is that it is very convenient. When people in Bit Village want to go to the Ethereum Village to use their own bitcoins, they only need to find the elders to save money and get the bills. The bills are as easy to use as Bitcoin in the Ethereum Village. .
The disadvantage is that this respected elder, although he has a good reputation, does not resist the temptation of sugar-coated shells and runs away with the bitcoins that everyone deposits and withdraws?
The bitcoin bills circulating in Ethereum will directly become a piece of waste paper due to the loss of the endorsement of these deposits and withdrawals of bitcoin assets, causing heavy losses to users. It is not difficult for you to see that this is a “single-point external verification” bridge represented by W BTC .
All security depends on the reputation of the institution that custodializes BTC and issues WBTC.
Multi-point external verification
Since we are not at ease with the “respected” elderly, how about finding multiple elderly people with good reputations to do the work of depositing, withdrawing, locking and issuing bills together?
The reputation and morals of each of them are not as good as that of the “respected” elder before, but there are so many of them! And they usually have to pledge a large amount of assets to be able to qualify for this “verifier”.
Then, under the condition of asset pledge + game, the possibility of them collectively “fouling” is much reduced, and overall they are more reliable than the single elder.
How about “decentralization”? Representatives of more external verification, such as Anyswap and Synapse, which have been popular recently, and Rune, which has been popular for a long time, are all of this style.
It sounds very tall, so what is native verification? Everyone knows that the order in each village is maintained by the police (miners) in the village.
In villages with a long history such as Bit Village and Ether Village, public security has always been very good, and everyone’s trust in the police is also very high. Although the newly emerging villages have not accumulated enough precipitation for the time being, the Near Village and Cosmos Village are also well-reputed and well-organized.
What if we transfer assets between two reputable villages under the premise of collective witness and guarantee by the police (miners) of the villages on both sides? Is it no longer necessary to find one or more elders from the outside world?
What’s even better is that under the witness of the police on both sides, people in the villages on both sides can not only transfer assets, but also pass messages to each other! The real realization of “speaking in the air”. Obviously, this mode of native verification is safe and reliable, and there is no need to find people from outside, and there is no need to pledge assets…
However, the shortcoming is also obvious, that is, the police from the two villages must be involved every time (for any two chains to deploy this kind of native verification bridge, developers need to develop and deploy new light sources on the source chain and the target chain. Client-side smart contract), so the flexibility is quite different from the external verification mode.
This style of bridge is naturally represented by the well-known IBC of Cosmos and the Rainbow Bridge of Near. Multi-coin and Binance Lab’s latest investment, Layer Zero, is definitely a rookie worthy of attention.
Local verification (liquid network)
This model is basically based on the extension of the Bitcoin Lightning Network model. To understand the typical model of this bridge, you must first understand two words: atomic swap and hash time lock.
What do you mean? For example, if a person wants to transfer the Ethereum in his hand from Village A to Village B, is there any more reliable method than the elderly, or even the police in the two villages?
Really, that is a robot without emotional and moral flaws! Atomic swap based on hash lock is such a robot. The robot receives a payment with a hash lock from your address in Village A, specifies an expiration time lock, and then sends a sum of the same hash to your address in Village B. Locked transfers.
After you find the transfer at the address of Village B, you will announce the key in Village A, unlock the hash lock, and release the funds to the robot. Then the robot uses the same key to unlock the hash lock in Village B and give you the funds. If you do not publish the key, both parties can return their own funds through the contract after the time lock expires.
In this case, you don’t need to rely on the reputation and moral standards of the robot at all, but rely on cryptography to implement Code is Law, called “router”. The relay node + contract that provides liquidity forms the “robot” mentioned above.
The representative of this kind of bridge is undoubtedly the most popular bridge Celer recently. In addition, Hop and Connext, which have not issued Token, are slightly different from Celer in technical implementation, but the whole is also a locally verified liquidity network bridge model.
At present, mainstream bridges can be classified into these five categories for the time being. However, the world of blockchain is changing with each passing day. The multi-chain era is officially coming. While each public chain continues to develop technology, the underlying technology and economic incentives of the bridge And game models, etc. will certainly continue to evolve.
Different scenarios and different needs will definitely have different types of bridges to meet, let us wait and see the “Hundred Flowers” of the public chain and the cruel “Hundred Bridges”!
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/the-multi-chain-era-broke-out-from-5-perspectives-to-fully-explain-those-new-promising-solutions/
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