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A brief study of cross-chain: from principle to technology.

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January 11
1 Abstract

5 predictions for Web 3 in 2022: DAO will become mainstream.

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January 07
Original title: "5 Unusual Predictions for Web3.0 in 2022"

Native cross-chain bridge: Under the coexistence of multiple chains, cross-chain becomes a rigid demand 2

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January 05
Optimism Gateway In terms of user experience, its interface is a bit like the decentralized exchange Uniswap. Users only need to select the assets to be deposited in Optimism and click the deposit button to directly realize the transfer of assets between Layer 1 and the Optimism chain. It is also worth noting that there is also a 7-day withdrawal period for withdrawing and depositing assets from Optimism. Multi-chain cross-chain bridge cBridge cBridge is a multi-chain cross-chain tool built by celer.network, an expansion platform of Layer 2 of Ethereum. At present, in addition to supporting Ethereum, cBridge also supports the transfer of assets between BSC, Fantom, Avalanche, OKExChain, Polygon and other blockchain networks that are compatible with the Ethereum EVM.

Native cross-chain bridge: Under the coexistence of multiple chains, cross-chain becomes a rigid demand

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January 05
Recently, Avalanche Bridge, the native cross-chain bridge of the avalanche protocol Avalanche, announced that about 880 GB tokens will be airdropped to each user's wallet address that has participated in the interaction. After GB enters the secondary market, the highest price will reach 3.68 US dollars. The value also soared to 3238 US dollars. Currently, GB has fallen back to around $1.8. The wealth effect brought about by airdrops has begun to make the market pay attention to the original cross-chain bridge section of the public chain, and the cross-chain agreement itself is also an important tool on the chain. At present, in addition to the veteran blockchain network Ethereum, new-generation public chains such as BSC, Solana, Fantom, and Avalanche have begun to enter the market. The second-tier expansion chains of Ethereum, Aribitrum and Optimism, are not too much, and the coexistence of multiple chains is the current market. Therefore, the interconnection of assets between chains also makes cross-chain agreements a rigid demand for users on the chain. There are currently two main approaches for asset cross-chain: Although cross-chain protocols provide users with the convenience of on-chain interaction, security is still worrying. Due to the increase in demand for transactions on the chain, the scale of cross-chain funds hosted by cross-chain bridges has also become larger and larger, and it has also become the favorite target of hackers, leading to the high incidence of security incidents in cross-chain bridges. Within two months of July and August this year, there were three security incidents in which cross-chain applications were hacked. On July 11, the cross-chain application ChainSwap was hacked due to a smart contract vulnerability, resulting in a loss of approximately US$8 million; On July 12, the decentralized cross-chain transaction application Anyswap v3 cross-chain fund pool was attacked and lost nearly 8 million U.S. dollars; in August, the cross-chain protocol O3 Swap was stolen due to its infrastructure PolyNetwork network security issues and lost assets As much as 610 million US dollars, the scale of theft hit a new high for DeFi applications. Compared with third-party cross-chain applications, public chain native cross-chain bridges are endorsed by their respective public chain security teams and official authorities, and their security is relatively more trusted by users. It is also the preferred cross-chain method for users when assets are cross-chain. At present, each public chain has launched its own cross-chain bridge. And since AvalancheBridge released the airdrop, users began to look forward to the next public chain cross-chain bridge that issued the airdrop. This issue of DeFi Honeycomb will take stock of the native cross-chain bridges of major public chains. BinanceBridge Binance Bridge is the official cross-chain tool of Binance Smart Chain BSC. It currently supports asset interoperability between Binance Smart Chain and the Ethereum network.

An article to understand the type of cross-chain bridge design and project distribution.

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December 27
After years of research and development, we finally entered a multi-chain market. There are currently more than 100 active public chains on the market, many of which have their own unique applications, users, geographic distribution, security models, and design trade-offs. Although individual communities are unwilling to believe, the universe is entropy increasing, and the number of these networks may continue to increase in the future. This type of market structure requires interoperability between different networks. Many developers have realized this, and blockchain cross-chain bridges have exploded in the past year. At the time of writing, there are currently more than 40 different cross-chain bridge projects.

About the development history of cross-chain.

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December 25
Cross-chain technology appeared very early. In 2013, a large number of technologies were used to discuss the cross-chain of Bitcoin. There are three main cross-chain technologies, Lightning Network, Side Chain and Relay. Before the emergence of Ethereum, the blockchain rarely talked about "contracts". At that time, only "coins" were talked about. At that time, the cross-chain technology all referred to "the cross-chain of assets (coins)." Asset cross-chain, perhaps should be called currency cross-chain. In simple terms, asset cross-chain means that the coins of the two chains are sent to each other. But how does it happen? There are many cross-chain technologies for coins, including two-way-peg, hash time locks, atomic swaps, asset pledge transfers, gateways, federated signatures, and so on. Two-way anchoring is a very important concept in Bitcoin side chain technology, which is used to achieve cross-chain between Bitcoin main chain coins and side chain coins. Two-way anchoring allows the side chain to "know" whether a particular coin on the main chain is in a locked state, and unlock or destroy the corresponding number of side chain coins based on this locked state. It is as if BTC "crossed" to the side chain, or vice versa, side chain coins "crossed" back to the main chain. BitShares is a decentralized exchange where Bitcoin can be traded. Hey, how did the Bitcoin in it appear? The gateway technology is used. The principle is very simple, that is, the user sends Bitcoin to a place called the "gateway", and then the "gateway" will generate a Bitcoin stablecoin to circulate in Bitcoin shares. When a user wants to withdraw bitcoin, the reverse is the case. The gateway will destroy the bitcoin stablecoin and then send the same amount of bitcoin to the user. There is a very important concept of currency cross-chain called "atomic exchange". The so-called atomic swap refers to a transaction on the A chain and a transaction on the B chain, either at the same time or not at the same time. For example, BTC and LTC, two people, Zhang San is willing to exchange 1BTC for Li Si's 100LTC. In order to prevent breach of contract, the two parties use atomic swap technology to complete the exchange of coins.

Introduction to AnySwap

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December 24
The predecessor of Multichain is AnySwap. It will adopt AMM automatic price and liquidity mechanism before February 2021 to support most Token cross-chain transactions (including BTC, BNB, ETH, USDT, etc.), but the transaction function will be cancelled after February, focusing In the asset cross-chain business, it cooperates with Fantom, Polygon, xDAI, Avalanche and other projects to support the cross-chain of the Terra stable currency UST between the Terra and Fantom mainnets. Currently AnySwap’s TVL ranks 15th in the entire network, and supports 27 on-chain assets and the number of Tokens is as high as 1,194, which makes it quickly become the leader in the cross-chain bridge field. This series of update iterations will give the brand upgraded Multichain. Lay a solid foundation.

Three cross-chain bridges:Hop、Connext and Across Protocol

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December 22

Why is cross chain bridge important?

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December 19
Interoperability unlock innovation