How Important the cross-Chain Technology is? Even Vitalik didn’t Think of
The distance from my heart to yours, is one affectionate confession;
The distance from Earth to moon, is a spaceship;
The distance from CCB to ICBC, is the liquidation system of central bank;
The distance from private company to a public one, is an IPO;
The furthest distance in this world, is not the distance between Imtoken and Kcash, but when I’m using this chain with you on the other one……
What will it take to migrate or transfer from ETH To EOS?
How do we reach from Ethereum to EOS with our assets?
The answer is cross-chain technology. Current cross chain technology can deal with the former question, but the conversion of assets defined in one chain to another, that’s a whole new level of difficulty……
There are different ways of storing and recording information between different chains, so how do we get across ‘the distance’?
2018 saw major contributions in the blockchain technology. With the emergence of a great number of public chains and consortium chains, this may be good news for the industry, but for Dapp developers, the choice of the right public chain has become an important issue. There are aspects like RAM cost, resource cost etc with free-to transact chains which makes the decision of the right chain for a Dapp a difficult one. In the traditional software world, there are alternate migration plans and upgrade paths available. In the case of the public blockchains forks causing change in behaviors, termination of chains itself etc are possible. Once the selected public chain comes to a premature end, Dapp developers are confronted with the problem of how to migrate the historical information and data form one chain to another.
‘Unlike a company relocation, only a van is needed to move from one place to another, The Dapp’s data migration needs more than a van, it requires a convenient and secure cross-chain technology.’ So, says Charlie, the founder of the UINP cross-chain project.
Application Implementation, Chain Interconnection
The transfer and management of cross-chain value is an important reason for the emergence of cross-chain technology.
Of course, cross-chain technology is not limited to the realization of digital asset transfer and exchange, but also includes more extensive chain-link communication, information interaction and intelligent contract migration. In addition, without affecting the internal network of each public chain, the cross-link technology should be able to achieve a zero-commission cross-link, while ensuring security and transaction efficiency.
So far, different public chains are like isolated islands of information. The new Dapp developers hope to get more technical and resource support from the numerous public chains, and the cooperation between different public chains, consortium chains and private chains is also expected to be achieved through some kind of agreement to realize the multi-chain interconnection.
At present, most people’s expectation of cross-chain technology is more about the transfer of assets, which is also an important issue for UINP to solve, including the transfer and management of assets of Dapp in the fields of finance, transaction and wallet. It is well known that exchange is the most effective way to transfer assets across the chain, but exchange is a centralized place which is an obvious target for the hackers to attack and most of exchanges can’t make sure the safety of transaction.
Current cross-chain solutions in blockchain industry
There are currently four mainstream cross-chain technologies in the market: Notary schemes, Sidechains/relays, Hash-locking and Distributed private key control.
1.Notary schemes’ mechanism: a third-party was selected to witness and record the assets transformation between chain A and B;
2. Sidechains/relays: it focusses on the events and states of main chain / connected chains by side chain / relay;
3.Hash-locking: a method locking the hash for a period for implementation of bidirectional payment;
4.Distributed private key control: it refers to that all kinds of cryptographic financial assets are controlled by private key and require multiple triggers to complete the asset transformation.
There are seven common consensus mechanisms, as shown in the figure above. Due to the different consensus mechanisms, chain structures and economic systems, it is difficult to communicate among chains, and there are still many bottlenecks in the development of cross-chain technology.
UINP will adopt a new cross-chain technology, dedicated to solving the problems encountered in the cross-chain project and promoting the iteration of cross-chain technology.
UINP — seamless cross chain integration & interoperability
As the world’s first decentralized cross-chain protocol on transport layer, UINP creates a cross-chain transmission，self-increment and self-decrement cross-chain mechanism, build a natural connection for different chain networks and promote the establishment of a broader blockchain Internet network.
UINP cross-chain network will realize decentralized cross-chain assets transformation and be compatible with different blockchain structures and multiple public chains to facilitate the asset management and exchange of Dapp users.
In addition to the asset management of digital currency, UINP can also facilitate the transfer of value information in the whole chain ecology, realize the information and data interconnection between public chains, consortium chains and private chains, assist Dapp in data migration across public chain, connect the island of cross-chain data, and build a real inter-chain network of blockchain.
Technical features of UINP: cross-chain transmission，self-increment and self-decrement
Current cross-chain technologies are relatively centralized because they are unable to cross multiple public chains simultaneously and require cross-chain support from a third chain. While UINP is completely decentralized. Through Quantum entanglement and perceptive hash algorithms, UINP’s observer chain can realize the data migration between two different public chains on application layer, that’s called ‘cross-chain transmission’.
Technical features of UINP: all-asset cross-chain transaction
The cross-chain requirements of Dapp include not only the exchange and migration of assets, but also the transfer of information, data and value It is difficult for Dapp developers to achieve the migration of application and user information from one chain to another without changing the original chain structure, just like different organisms with different genes arrangement are difficult to communicate with each other. There are four types of paradigm transformation of digital assets in UINP: P2P, A2A, A2P, P2A (P refers to the prevalence, A refers to the assets), creating Dapp assets cross-chain trading system.
Technical feature of UINP: Atomic cross-chain technique
Due to the different consensus mechanism among different public chains, miners have different ways of bookkeeping, which affects the difficulty and cost of crossing the chain. Most of current cross-chain technology uses blocks as the unit for accounting, while UINP adopts the POU consensus mechanism (the three-layer composite consensus mechanism -pos/pov/s-dpos) to realize atomic bookkeeping, that is, taking transactions as the unit. Dapp developers and users do not have to wait for a transaction to reach a full accounting block before transferring assets, but each transaction can be transferred across the chain in real time.
Technical feature of UINP: compatible with chains of different structures
Different public chains have different structures, such as Bitcoin and Ethereum as the block structure, while IOTA and Nano are the chains with DAG structure. The application layer protocol of UINP will carry out the paradigm transformation for the public chains with different structures through an observer chain, and each atomic transaction of Dapp will enter the destination network, so as to help developers to cross the chain with different structures.
Technical feature of UINP: compatible with the Internet information set
This means that UINP is compatible with the information communication mechanism off-chain, and it breaks the data isolation between the blockchain network and the traditional Internet network. That is to say, the real-time bookkeeping of Ethereum can be synchronized with the payment information in Alipay if one day Taobao shop allows buyers purchase goods by ETH through UINP cross-chain protocol. The application layer protocol of UINP contains Information set, transport layer protocol of TCP protocols, and has the features of 0RTT, optimized congestion control, and transport layer TLS security, etc. It supports HTTP2, which can perfectly realize the synchronization and interaction of Information on and off the chain.
Global cross-chain technical community
With the mechanism of self-increment & self-decrement and automatic tracking & connection between nodes, UINP will break the inter-chain barrier and realize the interoperability of assets, information and data between different chains at the transport layer, finalize a dynamic adjustment, interconnected chain ecosystem. In the future, UINP will realize a global cross-chain technology ecological community connecting various community systems.
The UINP foundation will cooperate with universities to establish communities, with the mission of integrating quality scientific research and strategic cooperation with colleges and universities at home and abroad. We envision creating blockchain Labs promoting research and drive result oriented cross-chain technical research.
UINP will also cooperate with various distributed technical and leisure communities, and regularly co-hold cross-chain technical community activities and forums. Blockchain technology is still in its infancy. Communication and cooperation between different blockchain projects can complement each other’s advantages and create the greatest value in the open source way. UINP is willing to undertake this historic mission, accelerate the trans-chain technology upgrades and iterations, and explore the future of blockchain with the global technical peers.
In addition, UINP will also build public chain alliances to facilitate the realization of cross-chain protocols. UINP currently has carried out in-depth cooperation with Qtum, Dfinity, TRON and EOS, and jointly explored the future of cross-chain in terms of both technology and application, and promoted the promotion and implementation of UINP’s cross-chain technology in the global market.
At present, UINP has raised joint investment from Qidian capital, IDG, Liaode capital and Genesis capital. UINP will be committed to building the Internet of blockchain networks, realize the interchain communication, promote fast and sustainable development of Dapps. We determined to become the leader of cross-chain technology and the pioneer in the Internet of value.Your Remaining Votes (within 24hrs) : 10 of 10