Truthcoin.Info Latest Posts Archive Drivechain - The Simple Two Way Peg 24 Nov 2015 With sidechains, altcoins are obsolete, Bitcoin smart contracts are possible, Bitcoin Core and BitcoinXT can coexist, and all hard forks can become soft forks. Cool upgrades to Bitcoin are on the way! Update: This project now has its own website ! See the literature page for the latest changes. Intro Agenda Explain the principles of the sidechain-concept, and what problem must be solved to make sidechains possible. Explain how an SPV proof works. Propose my own SPV proof (Drivechain - skip there now ), and explain the relevant economic and technical tradeoffs. FAQ at the end , for those who read minimally (including comparison to Blockstreams Appendix B ). Reminder Sidechains allow Bitcoin to be fully programmable. Unlike the smart contracts of a general environment like Rootstock/Ethereum, each individual sidechain is completely opt-in: by default, users wont be affected at all by any new programming. Existing Work In Appendix B of the sidechains whitepaper , the authors declined to provide a full design, and warned that this discussion is not exhaustive; optimizing these tradeoffs and formalizing the security guarantees is out of scope for this paper and the topic of ongoing work. Thats what well be doing here. What is a two way peg? A two way peg allows one to transform vanilla Bitcoin into all the other flavors of Altchain one might imagineand back. The total quantity of money (ice cream) remains the same. This combines the best of both worlds : developers can modify Bitcoin however they like, but users can keep their BTC away from any new rules (new vulnerabilities) that they dont like. Explained another way: a 2wp enables you to buy and sell Altcoins at a fixed rate. You could take 3 BTC, use them to purchase 3 side-Litecoin at a fixed 1:1 exchange rate, send those Litecoin to a friend on the Litecoin-chain, and then this friend can then redeem them at the same same 1:1 exchange rate (for exactly 3 BTC, which re-appears on the Bitcoin chain). Unlike today, every Altchain would start with a zero quantity of coins, and so the total number of coins, of all types, would always sum to 21,000,000 (ie, the current total number of BTC, a value which asymptotically grows to 21 million). The question is: how do we pull that off? I will first describe the problem and then my solution. Problem Statement We want to satisfy two constraints: [1] allow some BTC to change their transfer-rules, [2] prevent the original BTC from being affected by these new rules. Moving to New Rules (The Easy Part) Requirements It is easy to get coins to change their protocol rules: we can already do that, with Altcoins. However, that is a one-way transfer, and we need ours to be two way. Transactions must go from Mainchain to Sidechain (way #1), as well as from Sidechain to Mainchain (way #2). Since they are going to be two different chains, a round trip of a BTC to-and-from the sidechain would involve a total of four new things: A BTC, owned by A, leaves the original chain (Transfer Out of the Mainchain). Then, As BTC appears on the Sidechain (Transfer Into the Sidechain). Later, the very side-BTC in #2 (now owned by B) leaves the Sidechain (Transfer Out of the Sidechain). Finally, that BTC (owned by B) reappears on the original Bitcoin blockchain (Transfer Into the Mainchain). Were Halfway There Already Hopefully it is clear that the xfer Outs are v

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Fig 2 - uploaded by Umut Can abuk Content may be subject to copyright. Download View publication Copy reference Copy caption Embed figure An example run of the two-way pegging protocol. Source publication Sidechains: Highlights and Challenges Conference Paper Full-text available Oct 2019 Blessing Ngonidzashe Musungate Bra Candan Umut Can abuk Gkhan Dalkl The revolutionary concept of blockchain and its applications are spectacularly drawing more and more attention in todays world. The crypto-currency platforms have been on the forefront of implementing blockchain technology. However, the capabilities of blockchains are not limited to monetary transactions. Introduction of smart contracts allowed de... Cite Download full-text Context in source publication Context 1 ... SPV proof is used for the asset transfer: the confirmation and the contest periods. The former is the period in which an asset must be locked on the parent-chain before it can be transferred to a sidechain. The latter is the period in which a newly transferred asset should not be spent (or processed) on the sidechain (to avoid double spending). Fig. 2 shows an example of an asset transfer using two way pegging with ... View in full-text Similar publications A Source-Code-Based Taxonomy for Ethereum Smart Contracts Conference Paper Full-text available Sep 2021 Adrian Hofmann Julian Kolb Luc Becker Axel Winkelmann As blockchain gained a lot of attention in IS research since its emergence, development into networks and applications have made it extremely relevant for multiple industry branches. Yet observations show, that there remains a lack of in-depth knowledge and standardization, particularly in the field of blockchain applications, DApps. These DApps of... View Citations ... Analysis of the DLT mechanisms (Fig. 5) has been performed by the above mentioned criteria. Comparing Blockchain [25], SideChain [26], Tangle [27], Hashgraph [28] [29] in Table II, it was concluded that Blockchain and SideChain have low transaction processing speed. Due to the fact that the components responsible for security (in addition to basic consensus algorithm) are very similar. ... Ensuring the Big Data Traceability in Heterogeneous Data Systems Conference Paper Sep 2023 Maxim Kalinin Maria Poltavtseva Dmitry Zegzhda The work corresponds to the security of Big Data, the key element of the modern digital world. The distributed ledger technology is widely applied to achieve data integrity and confidentiality. However, all relevant solutions are grounded in specific application environments and platforms, what determines the goal to create a universal approach in which Big Data processing components can vary and interchange. The paper proposes a method for ensuring the traceability of Big Data processing in heterogeneous data systems. Traceability is the ability to ensure that data is completely traceable across the entire system. This allows data to be easily followed all the way back to the original sources, audited and controlled. Big Data processing models have been presented. HashGraph and Blockchain distributed ledger mechanisms have been adapted to monitor Big Data processing chains. For tracing Big Data, the appropriate components of the distributed ledger have been modified and implemented. The experiments have been arranged on the test data system processing the big network traffic input, and it has been confirmed that the proposed solution is universal for the ledger technology, does not depend on the Big Data processing platform, and provides Big Data security preserving the computing resources of the protected system. View

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Docs Architecture Reference Stratis Sidechains A breakdown of the Two-Way Federated Peg solution View page source A breakdown of the Two-Way Federated Peg solution This chapter details the specific mechanics of a Two-Way Federated Peg sidechain solution from initial creation of the sidechain to mining the transactions made on it. Before these steps are covered, it is useful to define the four different types of sidechain user. User Description Sidechain creator Sets up and configures the sidechain. Not necessarily a federation member. Federation member Authorizes cross-chain transactions in conjunction with other federation members. Sidechain funder Deposits funds on the sidechain and withdraws funds from sidechain. Sidechain user Makes transaction on the sidechain but does not deposit or withdraw funds. In other words, they make no cross-chain transactions. Note Depending on the business case, there may be one sidechain funder or many. For example, a single deposit might be made at the start of a sidechains life followed by a single withdrawal at the end of its life. Alternatively, cross-chain transactions from several users might be a common occurrence. The creation of the Cirrus sidechain The creation of an Cirrus sidechain involves mining the genesis block and premine block, which are the first and second blocks on the sidechain respectively. The premine block contains the premine of 100 million APEX coins. The following figure shows the creation of the CRS sidechain: The UTXO for the premine is shown inside the premine block. The locked padlock symbol indicates that at this point the UTXO is unspent, but it is ready to be spent by the federation when they honour STRAX deposits made on the mainchain. A sidechain funder who owns 100 STRAX is also shown in the figure, and their single UTXO of 100 STRAX is shown inside one of the mainchain blocks. The previous figure is the first of 3 figures. In the subsequent figures, the sidechain funder deposits 100 STRAX on the sidechain and, finally, they withdraw 50 STRAX back. Note When the term locked is used in relation to individual UTXOs, it refers to the fact they are spendable (when unlocked using the correct signature/s) and contribute to a balance in a wallet. Unlocked UTXOs are spent and no longer contribute to anyones balance. You may have encountered references to STRAX being locked on the sidechain. In this case, the text is describing in general terms the deposits made by sidechain funders which remain held by the federation until they are withdrawn. The next section discusses the role played by the federation and the significance of the P2SH addresses. The role of the federation The role of a federation is to sign-off the deposits from the mainchain to the sidechain and sign-off withdrawals from the sidechain to the mainchain. To achieve this, Stratis Sidechains take advantage of an existing technology already built into the Stratis nodes: Pay-To-Script-Hash addresses . P2SH addresses are a convenient way to make payments to an organization that requires UTXOs with multisignature locking scripts , and they are adaptable to federation requirements. Although spending payments sent to P2SH addresses requires multiple signatories, not all the possible signatories are usually required. For example, only 4 of 5 signatories may be required to spend a payment. When a predefined minimum number of signatories is required from a group for an operation to proceed, this is also known as a quorum. The deposits and withdrawals that the federation controls also require the approval of a quorum. When a STRAX deposit is made, the federation signs for the release of CRS on the sidechain. When a STRAX withdrawal is made, the federation signs for the release of STRAX on the mainchain.

academy.stratisplatform.com

| 824 | 824 2023-01-09 14:51:53 51CTO824 1 1 2 ABBABBABAB 2 1 ABBA ABABatomic transaction 2 A5B2AB1A4B3 ABB1A 3 1 1 Hashlockhash hash 2 Timelock 2 Hash Time Locked Contract HTLC HTLC 3 A10B100113.7 AB AHTLCAHTLC11AB BAHTLC13.7 ABBAAAB ABBBAA A CSP-J2020 | ( ) .net 1DESDES44=++=--xx System ide 5.1-- 1

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2023-12-25 10:35:21 2023-12-25 10:35:21 4.1k 12 2 https://www.chainnews.com/articles/365768981629.htm# 21 9 InterledgerSprites HashKey Capital Research PlatON Hash Time Locked ContractHTLC) InterledgerSprites Conditional Payment (Atomic Swap HTLC HTLC HTLC Interledger HTLAs() HTLC HTLC HTLC HTLC HTLC HTLC H R Hash = H HTLC Alice Bob 0.5 BTC Alice Carol Bob 1: 1: HTLC Bob R H=Hash Alice Alice HTLC Carol Carol T H RAlice Carol 0.5 BTCCarol HTLC Bob Bob t H RCarol Bob 0.5 BTC t<T Bob t Carol R 0.5 BTC Carol R0.5 BTC CarolCarol Carol T Alice R 0.5 BTC0.5 BTC AliceAlice HTLC Atomic R R Receipt HTLC HTLC HTLC BobCarol Alice 3 ( 2) 2 3 BobCarol Alice 2: HTLC (1) Bob t t Carol Bob t Carol Bob T Bob T Bob t Carol Bob T Alice Carol T Alice Carol Alice Carol Alice Carol Alice 3 X Bob t Carol Bob T 0 Bob T -0.5BTCCarol Bob T 3: HTLC (2) ( 4)Bob t 0.5BTC 0Bob t 4: HTLC (3) {Bob t Carol Bob T Alice Carol } HTLC HTLC HTLC HTLC HTLC HTLC HTLC HTLC SHA-256 HTLC HTLC 1 Alice HTLC Carol Bob Carol Alice Carol HTLC Alice Bob Carol Bob Carol HTLC Alice Carol Alice HTLC Interledger HTLAs() HTLAs Hashed Time-Lock Agreements Interledger HTLC HTLC HTLAs HTLAs HTLAs Interledger HTLAs HTLAs Conditional Payment Channels with HTLC / (On-Ledger Holds/Escrow with HTLC) (Simple Payment Channels) (Trustlines) 5: Interledger HTLC HTLC () / HTLC Ripple HTLC : (1) : Alice Bob (2) : Alice Bob() Bob (3) HTLC HTLC : (1) : Alice Bob Alice Bob Bob Bob Alice

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APP 2023-08-31 -- >> Hash Time Lock ContractsHTLChash Hash Time Lock ContractsHTLC Hashlock HashLockhashhash Hash Time Lock ContractsHTLC [email protected] CBAA+A++352040100 CB A24 RMBRMB HD 2023-08-31 1605 HD 128 256 HD HD... OKX App60,000 APP 24

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Bitcoin Stack Exchange is a question and answer site for Bitcoin users, developers, and enthusiasts. It only takes a minute to sign up. Sign up to join this community Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top Teams Q&A for work Connect and share knowledge within a single location that is structured and easy to search. Learn more about Teams What are the security guarantees of DLC oracles? Ask Question Asked 1 year, 8 months ago Modified 1 year, 8 months ago Viewed 94 times 3 DLC ( Discreet Log Contracts ) is a protocol that allows two parties to create a bet based on the outcome of some real-world event, as reported by a trusted oracle. Alice and Bob lock coins in a multi-sig UTXO that may be spent in different ways depending on what the oracle reports. After the event in question happens, the oracle reports an outcome, and either Alice or Bob claim the coins. The oracle may not even be aware of Alice or Bob - it just publishes commitments to outcomes. Another benefit of DLCs is that they leave minimal on-chain footprint: the oracle announcements are not placed on-chain, only bet resolutions are, and they look identical to a regular multi-sig usage (similar to Lightning channels). What I don't understand about DLCs are oracle security guarantees. How are oracles incentivized to honestly report outcomes? What happens if an oracle reports a false outcome? Reports conflicting outcomes? Goes offline and reports nothing? Is there some kind of security deposit that a misbehaving oracles loses? If so, who enforces this, and where would the deposit go? oracle discreet-log-contract Share Improve this question Follow asked Apr 12, 2022 at 20:

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Glossary Discreet Log Contract (DLC) 3 min read A Discreet Log Contract (DLC) is a form of Bitcoin transaction which uses an oracle to execute a smart contract . Essentially, DLCs allow parties to place bets using the Bitcoin blockchain. In order to construct a DLC, two parties lock funds in a multisig address. These funds are only able to be spent when the oracle releases the specified information at a specified time. An oracle for a DLC can be any form of data feed, such as a websites publication of the result of a sports match, or an exchanges listing of an asset price. The word discreet is technically a misspelling of discrete. However, since the inception of DLCs, this is the spelling that has been used. Discreet Log Contracts offer an improvement over other types of smart contracts in that their on-chain footprint is no different than a regular multisig transaction. They thus do not require any special changes to the Bitcoin protocol other than the introduction of Schnorr signatures , which will be introduced in the Taproot upgrade. However, DLCs do not fully solve the Oracle Problem , the inability to incorporate real-world data into a smart contract in a trustless manner, as they still rely on a trustworthy oracle to release true data. A DLC works by using an oracles signature of a certain message as a private key, which allows the winner of the bet to sign a transaction spending the funds the two counterparties committed to the contract at the beginning. For example, if Alice and Bob wish to set up a DLC to bet on the outcome of a coin toss, they first create a funding transaction, where both parties send bitcoin, say 1 BTC each, to a 2-of-2 multisig. Next, Alice and Bob obtain public keys whose private keys are newly created from the oracles signature of both eventsheads or tails in the case of a coin toss. Note that these private keys are not the private key used to create the event signatures. A signature can not be used to derive the private key that created it. With these public keys, Alice and Bob create two commitment transactions, called Contract Execution Transactions (CET), one of which spends the 2 BTC from the funding transaction to the heads public key and the other which spends it to the tails public key. Both of these transactions require signatures from Alice, Bob, and the heads or tails key. Since neither Alice nor Bob have the heads or tails private key, these transactions have only 2 of 3 required signatures, and remain unpublished to the blockchain for now. After the oracle determines the result of the coin toss, say heads, the oracle publishes the corresponding heads signature, and Alice or Bob use this signature to derive the heads private key. Alice and Bob can now sign only the CET sending the bitcoin to the person who chose heads. The signed CET is published to the blockchain, and the winner of the bet receives the 2 BTC. The CET which required the tails signature is obsolete and discarded. In order to incentivize the loser of the bet to sign and publish the transaction, extra bitcoin is added to the funding transaction by both counterparties. If the bet is 1 BTC, each counterparty might stake 1.5 BTC. The winner will then receive 2.5 BTC, and the loser will have their 0.5 BTC returned. This allows a time lock condition to be implemented, wherein, if the loser has not signed and published the transaction by a certain time, the winner may additionally claim the losers 0.5 BTC of collateral. Related Terms Oracle Problem The Oracle Problem describes the as of yet unsolved problem of integrating external data, such as the score of a sports game, into a smart contract on the blockchain in a trustless manner. Learn more.

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/ DLC and Oracle 3,680,000 0.29 Discreet Log Contract (DLC) - River Financial river.com https://river.com learn terms discreet-lo... river.com https://river.com learn terms discreet-lo... A Discreet Log Contract ( DLC ) is a form of Bitcoin transaction which uses an oracle to execute a smart contract. Essentially, DLCs allow parties to place... What is DLC in Blockchain? What is a DLC link? What is a discrete log contract? What is smart contract in Crypto? Discreet Log Contracts (DLCs) Bitcoin Optech https://bitcoinops.org topics discreet-log-... Bitcoin Optech https://bitcoinops.org topics discreet-log-... Discreet Log Contracts ( DLCs ) are a contract protocol where two or more parties agree to exchange money dependent on the outcome of a certain event as... What are the security guarantees of DLC oracles? Bitcoin Stack Exchange https://bitcoin.stackexchange.com questions Bitcoin Stack Exchange https://bitcoin.stackexchange.com questions 2022412 DLC (Discreet Log Contracts) is a protocol that allows two parties to create a bet based on the outcome of some real-world event, as reported by... 1 : How are oracles incentivized to honestly report outcomes? The current DLC protocol does not include the capacity to pay a fee to the oracle as the oracle ... What Are Discreet Log Contracts (DLCs) - Unchained Crypto unchainedcrypto.com https://unchainedcrypto.com what-are-discr... unchainedcrypto.com https://unchainedcrypto.com what-are-discr... 202375 A Discreet Log Contract ( DLC ) is a type of Bitcoin transaction that utilizes an oracle to execute smart contracts on the Bitcoin blockchain. What Are DLCs and DLC Attestors? DLC.Link https://www.dlc.link blog what-are-dlcs-a... DLC.Link https://www.dlc.link blog what-are-dlcs-a... 202346 What is the difference between a data oracle and a DLC attestor? ... Oracles are entities that provide data external to a blockchain. Although... Multi-Oracle DLC Deep Dive Suredbits https://suredbits.com multi-oracle-dlc-deep... Suredbits https://suredbits.com multi-oracle-dlc-deep... 2021329 We do a deep dive of the technicals and trade-offs behind executing DLCs with multiple oracles and also discuss the parameters for this... DLC.Link Receives Grant to Bridge Chainlink Oracles ... Chainlink Blog https://blog.chain.link dlc-link-chainlink-gr... Chainlink Blog https://blog.chain.link dlc-link-chainlink-gr... 20211224 We're excited to award DLC .Link a Chainlink Community Grant to bridge Chainlink oracle data to Discreet Log Contracts ( DLCs ) on Bitcoin. Oracle-based Conditional payments on Bitcoin LN Markets https://blog.lnmarkets.com oracle-based-co... LN Markets https://blog.lnmarkets.com oracle-based-co... 2023516 This is what we call a conditional payment. Lightning Network's Discreet Log Contracts ( DLCs ) unlock new possibilities for conditional payments... DLC Private Key Management Part 2: The Oracle's ... Suredbits https://suredbit

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-SPV 2022-04-19 11:39:55 xujinwei_gingko 2022-04-19 11:39:55 1.1k p2p asp.net debian CC 4.0 BY-SA https://blog.csdn.net/xujinwei_gingko/article/details/122043177 18 1 SPV:Special Purpose Vehicle SPV,ABS xujinwei_gingko 0 0 ? 0

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> >> SPV > SPV 2023-12-27 20:05:40 ""(Special Purpose Vehicle, SPV) " "(Special Purpose Vehicle, SPV) SPVSPV SPVSPVSPVSPVSPV, SPVs . , 2008, . SPV, .SPVs2018""(Special Purpose Vehicle) SPVSPVSPV Tag (08143.HK)2612.5 8.01% 118(08143.HK)202393062612.58.01%716(2022 2023-12-27 2015 2015 2023-12-27 2023-12-27 7.73%2.03 202311222231NVFY.us7.73%2.03/7530.05%0.00% 2023-12-27 2023-12-27 2023-12-27 1 OpenAI 1000 2 (300556.SZ)9000100% 3 4 5 100800 6 A 7 8 9 10 325 3% IPO 100 Windows Hello 7.096545 (01880.HK)17.26 A 2023

cznwd.tzhldz.net

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chinaforex.com.cn

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Bitcoin Stack Exchange is a question and answer site for Bitcoin users, developers, and enthusiasts. It only takes a minute to sign up. Sign up to join this community Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top Teams Q&A for work Connect and share knowledge within a single location that is structured and easy to search. Learn more about Teams How does an SPV wallet use the headers that it downloads? Ask Question Asked 8 years, 5 months ago Modified 8 years, 5 months ago Viewed 2k times 4 My understanding is that an SPV wallet downloads "headers only". These headers are not enough to get a UTXO set, so it has to rely on another data source when it comes time to move bitcoin. If thats the case, then why does it even need the headers? spv Share Improve this question Follow asked Jul 5, 2015 at 13:34 priestc priestc 301 1 1 gold badge 3 3 silver badges 8 8 bronze badges Add a comment | 2 Answers 2

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Open in app Sign up Sign in Write Sign up Sign in SPV in Tron cross chain TRON Core Devs Follow Published in TRON 10 min read Jun 7, 2021 -- 1 Listen Share One of the hot spots of blockchain technology in 2021 is cross-chain. Here is a simple understanding of cross-chain: one blockchain is one independent ledger, two different chains are not related, and there is no way to transfer values between the two ledgers. However, for a specific user, the value on one blockchain can become the value on another chain, this is called value circulation/transfer, and cross-chain technology is to allow value to circulate between different chains. As one of the most popular public chains in the world, TRONs cross-chain technology can greatly expand TRONs entire ecosystem. In the implementation of TRONs cross-chain project, TRON has innovatively used many technologies to solve various problems encountered in the cross-chain. And this article will focus on the important role that SPV (Simlifid Payment Verification) plays in the implementation of this decentralized cross-chain project. Background The core function of a typical cross-chain project is to support cross-chain transactions. A simple understanding of the difference between cross-chain transactions and on-chain transactions is that cross-chain transactions involve two transactions on two different chains. These two transactions are dependent on each other to meet the characteristics of cross-chain transactions such as atomicity. This introduces a big problem if the transaction on chain A (deducting Token1 from Alices account) has not been confirmed, and the transaction on chain B (adding Token2 to Bobs account) has been successfully executed, so the deduction of Token1 from the Alice account may fail in the end, resulting in asset loss. The root cause of the above problem is that when chain B is executing the transaction, it cannot know whether the deduction transaction on chain A has been solidified. Only when the transaction on chain A has been solidified, it is reasonable to execute the transaction on chain B. How does one chain know whether a certain transaction on the other chain is already solidified? SPV technology is the answer. The role of SPV in cross-chain is to give chain B a way to know whether the transaction on chain A is confirmed (solidified), which is equivalent to verifying whether the transaction on chain A is confirmed. Only when the transaction on chain A is confirmed, chain B is allowed to execute the subsequent logic, and therefore guarantee the safety of the cross-chain transaction. How to verify whether a transaction is confirmed on the other chain? How to verify whether the transaction is confirmed on the other chain? The easiest way is to have a complete data copy of the other chain, which means to have a complete database of the other chain locally, and verify whether a transaction is on the chain only needs to retrieve it in this database. However, the data size of the TRON mainnet is close to 700G, and the data size will continue to expand in the future, and in the cross-chain scenario, one chain may have to interact with multiple chains, it is impractical to save the data of all other chains. Here we will introduce the SPV, which is the Simlifid Payment Verification. There are two keywords here, one is simple, and the other is payment verification. This concept was first mentioned in Satoshi Nakamotos paper. The paper pointed out that the payment can be verified without running a full node, just saving all the block headers. Initially, SPV was used for light nodes. Light nodes refer to the technology in which nodes only store the block headers to validate the authenticity of the transactions instead of storing complete blockchain data. The full node, the complete blockchain node, is the node t

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/ Research 7x24h 2023.07.24 - 156 Twitter : Jeff TokenDID NFT SPV NFT web3 RWA 2022 11 60-70% 2 NFT NFT NFT NFT NFT NFT NFT NFT NFT NFT NFT Tangible SPVSpecial Purpose Vehicle mint NFT NFTTangible 10% Tangible Tangible RealT N CityDAO DAO Smart Reality ManageGo Closing lock TangibleBinaryX Reental web2 StreetWire Sablier NFT NFT NFT Tangible Vairt RealT FIGURE NFT BNPL SPV SPV Tangible Tangible SPV Tangible SPV NFT SPV NFT SPV SPV NFT NFT SPV Token SPV CityDAO DAO NFT CityDAO SPV Tangible 7% 20% SPV SPV SPV SPV web3 Token web2 Token Token DID Token 90% 2022 web3 NFT NFT NFT NFT NFT web3 DID WEB3 2Earn CityDAO NFT Token

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Open in app Sign up Sign in Write Sign up Sign in Simplified Payment Verification Instant payment, signature validity, and the importance of integrity Wei Zhang Follow Published in nChain 8 min read Aug 25, 2020 -- 1 Listen Share Photo by SkillScouter on Unsplash The concept of Simplified Payment Verification (SPV) can be traced back to the Bitcoin white paper in 2008. It provides a scalable mechanism for verifying whether a transaction has appeared in a block. However, there are some subtle but important aspects of SPV that are often overlooked. This article will explore the role that SPV plays in enabling instant payments, data ownership, and legal compliance. Proof of publication in a block Section 8 of the Bitcoin white paper introduces SPV as the process of verifying whether a payment has been accepted by the Bitcoin network. The verifier is assumed to have access to a list of block headers, and it takes an input consisting of a Bitcoin transaction and its Merkle proof. If the Merkle proof leads to a Merkle root which appears in one of the block headers, it means that the transaction has indeed been published in that block. The process is considered as simplified because it only requires three pieces of information: 1. a list of block headers (under 52 MB at the time of writing), 2. a transaction (under 400 bytes for a simple Pay-to-Public-Key-Hash transaction), and 3. a Merkle proof (928 bytes assuming the block containing 1 billion transactions). Consider a merchant, say Bob, who maintains a list of block headers. When he receives a payment transaction from his customer, say Alice, he can verify that the payment has appeared in a block as soon as its Merkle proof is obtained. If a BIP-270 process is implemented, it is Bob himself (or a receiver in general) who is responsible for sending the transaction to the Bitcoin network and obtaining a Merkle proof. This process works very well with an SPV client because the merchant has all three pieces of information required to carry out the verification. The cost for Bob to run this system is much lower than the cost of maintaining a full copy of the blockchain. Given the lightweight nature of this mechanism in terms of storage and bandwidth, it is not difficult to see that this can be scaled up easily. Instant Payments Somewhat counter-intuitively, SPV may also be used for payments that are effectively instant. In this case, the customer, Alice, provides two transactions and one Merkle proof to the merchant, Bob. One is a payment transaction. The other is the transaction whose output is referenced by the payment transaction. Let us call it the previous transaction from now on. The Merkle proof is for the previous transaction. (The number of previous transactions required depends on the number of inputs in the payment transaction. For simplicity, we assume only one transaction is referenced in the payment transaction as an input.) Note that the payment transaction does not have a Merkle proof at this point. One motivation for the simplified payment verification on the previous transaction is to have a fail-fast mechanism to allow Bob to detect invalid payment transactions quickly before it is sent to the Bitcoin nodes. This is because the proof that the previous transaction exists on the global ledger provides some assurance that Alice did indeed have the necessary funds at some point in the past. In fact, there is a much more fundamental motivation to conduct this simplified payment verification on the previous transaction: to prove the integrity of a transaction . The simplified payment verification on the previous transaction is to ensure the data in the previous transaction provided by the customer has not been tampered with. Before we explain this in detail, we would like to make a reasonable assumption th

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Page Contents 1 Advantages 2 Approach 3 Merkle Trees, Merkle Roots, Merkle Paths and Merkle Proofs 4 SPV Wallet 5 Offline Payment Navigation Main page Recent changes Random page Help about MediaWiki Tools What links here Related changes Special pages Printable version Permanent link Page information Simplified Payment Verification Simplified Payment Verification (SPV) is described in section 8 of the Bitcoin whitepaper . It allows a transaction recipient to prove that the sender has control of the source funds of the payment they are offering without downloading the full Blockchain , by utilising the properties of Merkle proofs . This does not guarantee that the funds have not been previously spent, this assurance is received by submitting the transaction to the Bitcoin miners. However, in such a case the SPV proof acts as strong evidence of fraud backed by legally recognised digital signature technology. SPV allows users to securely transact with each other, peer-to-peer, while nodes act to form the settlement layer. Advantages The advantages of using SPV are clear in terms of the volume of data required: a wallet can store all necessary block headers in around 50MB - this covers the entire block chain (as of January 2020, with 80 bytes per block and around 620,000 blocks in the chain). The total grows linearly at around 4MB per year (i.e. it increases by 80 bytes with each block mined, regardless of the size of that block). contrast this with the hundreds of gigabytes which would be required to store the entire chain, if SPV were not being used. The size of the data required for the merkle paths is of maximum bytes, where is the total number of transaction in one block. As explained in Section 8 of the Bitcoin whitepaper : " ... [An SPV client] only needs to keep a copy of the block headers of the longest proof-of-work chain, which he can get by querying network nodes until he's convinced he has the longest chain, and obtain the Merkle branch linking the transaction to the block it's timestamped in ... And in Section 7: " ... A block header with no transactions would be about 80 bytes. If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year ..." Approach There have been a lot of previous misunderstandings around SPV and peer-to-peer transacting. Previously, the custom had been for the sender of the payment to just broadcast the payment to the Bitcoin network nodes. The receiver of the payment would then need to somehow filter through all of the transactions coming onto the network for specific transactions relating to them (an extremely difficult task in of itself). Even if the sender sent the transaction to the receiver as well as the network nodes, the custom had been for the receiver to always wait for the transaction to be confirmed at least 6 times whatever the transaction type, amount or situation. The better approach is that transactions between SPV clients are negotiated peer-to-peer and settled on the ledger through the network nodes. An analogy for this is a transaction done using cheque at a much faster speed. The customer hands the the signed cheque (transaction) to the merchant, who then banks or cashes the cheque (settles the transaction on chain). When/if the merchant is satisfied according to the situational risk of the transaction, then they can hand over the goods or services. There is no such thing as absolute security, there is always a risk against the cost of being defrauded (which decreases exponentially as time goes by). If the transaction is only for a cup of coffee, then

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/ Simplified Payment Verification for alternative blockchains 6,190,000 0.58 Simplified Payment Verification (SPV) is a term used to describe software which queries other nodes for new blocks and transactions but does not store the blockchain itself, like a node . Simplified Payment Verification (SPV) - River Financial river.com https://river.com learn terms simplified-payment-ve... river.com https://river.com learn terms simplified-payment-ve... What is simplified payment verification blockchain? What is simplified payment verification Merkle tree? How do I verify a transaction on blockchain? What is SPV proof? Simplified Payment Verification (SPV) - Dash Documentation dash.org https://docs.dash.org stable docs guide dash.org https://docs.dash.org stable docs guide Simplified Payment Verification (SPV) is a method used by lightweight clients to verify transactions without downloading the entire blockchain . Simplified Payment Verification (SPV) - BitcoinWiki bitcoinwiki.org https://en.bitcoinwiki.org wiki Simplified... bitcoinwiki.org https://en.bitcoinwiki.org wiki Simplified... As noted in Nakamoto's whitepaper, it is possible to verify bitcoin payments without running a full network node. And this is called simplified payment ... Simplified Payment Verification | Craig Wright craigwright.net https://craigwright.net blog simplified-pa... craigwright.net https://craigwright.net blog simplified-pa... 2019109 Bob can validate it and send it to the blockchain for clearing and settlement. The process is peer-to-peer. The miners or nodes in the network... Simplified Payment Verification Bitcoin SV Wiki https://wiki.bitcoinsv.io index.php Simpli... Bitcoin SV Wiki https://wiki.bitcoinsv.io index.php Simpli... 2022814 It allows a transaction recipient to prove that the sender has control of the source funds of the payment they are offering without downloading... Advantages Approach Merkle Trees, Merkle Roots... alternative | alternative Simplified Payment Verification. Instant payment, signature ... Medium https://medium.com nchain simplified-pa... Medium https://medium.com nchain simplified-pa... 2020825 The concept of Simplified Payment Verification (SPV) can be traced back to the Bitcoin white paper in 2008. It provides a scalable mechanism... What are Blockchain nodes? Detailed Guide [UPDATED] Blockchain Council https://www.blockchain-council.org blockchain bloc... Blockchain Council https://www.blockchain-council.org blockchain bloc... 2023927 Light nodes, also known as SPV ( Simplified Payment Verification ) nodes, are a more lightweight version of full nodes. They are designed to... [English] White Paper ethereum/wiki Wiki GitHub https://github.com ethereum wiki wiki GitHub https://github.com ethereum wiki wiki Difficulty of simplified payment verification - Bitcoin's Merkle Tree construction allows for a protocol known as " simplified pa

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Open in app Sign up Sign in Write Sign up Sign in Blockchain Interoperability Series: Atomic Swaps Matthew Hammond Follow 7 min read Sep 23, 2019 -- Listen Share Introduction Thank you for joining us for the second post in our Blockchain Interoperability & Cross-Chain Communication Series. Today, well dive into the first of the five primary cross-chain communication mechanisms, atomic swaps. If you happened to miss the first post in the series, be sure to check it out . What Are Atomic Swaps? In 2013, TierNolan devised the atomic swap, where Hashed TimeLock Contracts (HTLCs) on two chains could allow users to trade one digital asset for another directly in a peer-to-peer transaction. For the majority of cryptocurrency holders today, accomplishing this is done in one of three problematic ways: Using a centralized exchange to first sell into fiat and then buy using the proceeds Trading on an exchange that supports your desired trading pair Trusting an individual enough to send them your crypto, with faith that they will send you the agreed-upon new currency. Atomic swaps promised to reduce unnecessary fees, eliminate the need for a trusted third party, and minimize the volatility risk associated with using an intermediate currency. So, its no surprise that theyve seen a rise in chatter over the past few years. How Atomic Swaps Work Unfortunately, atomic swaps are not as simple, efficient, or secure as they first appear. When used alone, atomic swaps are incredibly slow and expose both parties significant risk. Even in the best-case scenario, both parties are required to take several actions and stay online for hours. Its important to note that the actions necessary to complete an atomic swap are both synchronous and unenforceable. If at any time one of the parties goes offline or fails to complete a step, the swap will be delayed, the users will be exposed to risk, or the swap will fail. Lets dive into the steps involved in an atomic swap: Step 1: Finding a Counterparty and Negotiating Terms To set-up an atomic swap, a user must first find a willing counterparty, negotiate terms, and exchange information. This process includes determining the exchange rate, the size of the trade, and the duration of the HTLCs (generally based on the number of confirmations on each chain needed to provide sufficient economic security and account for delays). Once both parties have agreed on terms, pubkeys are exchanged. I cant emphasize enough how cumbersome and time consuming this step is. Steps 2 & 3: Users Submit Collateral Once terms are negotiated, one of the users (User 1) must be the first to time-lock their funds into an HTLC as collateral. These funds remain locked and illiquid until either the swap is completed or the HTLC expires. Under ideal conditions, User 2 would then wait one confirmation cycle (~1 hour for BTC & ETH, but theoretically up to days on an inefficient chain like Vertcoin or Verge) to gain sufficient confidence that User 1 has indeed collateralized and then immediately time-lock their funds into the corresponding HTLC on the other chain completing their side of the collateral. User 1 would similarly wait for at least one confirmation cycle (a minimum of another hour) to gain confidence that User 2 is collateralized before proceeding. Steps 4 & 5: Swapping Funds After sufficient confidence that User 2 is collateralized, User 1 may (and should immediately) withdraw User 2s collateral, thus completing their side of the swap. Only once they have done so, may User 2 similarly withdraw User 1s collateral. After withdrawal, both users must again wait for at least one confirmation cycle on each chain to confirm that the withdrawal was not reorged out. As you can see, even under ideal conditions (both with the individuals involved and with the chain) both parti

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/ Bitscale second layer network PBFT consensus Bitcoin interoperability atomic swap 8 0.35 Blockchain Interoperability Series: Atomic Swaps Medium https://medium.com atomic-swaps-eebd0fa... Medium https://medium.com atomic-swaps-eebd0fa... 2019923 The lightning network is a second layer technology for Bitcoin , built to enable off-chain payment channels; increasing transaction speed and... Bitscale PBFT consensus What is the layer 2 protocol for the Bitcoin blockchain? What is the layer 2 ecosystem of Bitcoin? What are the layer 2 blockchain solutions? What are the three types of consensus in Bitcoin? Blockchain Consensus Mechanisms: International Monetary Fund https://www.imf.org English FTNEA2022003 International Monetary Fund https://www.imf.org English FTNEA2022003 PDF 2022 27 The Lightning Network is a second - layer protocol that connects users through off-chain channels. These channels allow connected users to complete multiple... Bitscale atomic swap SoK: Exploring Blockchains Interoperability Cryptology ePrint Archive https://eprint.iacr.org ... Cryptology ePrint Archive https://eprint.iacr.org ... PDF G Wang 2021 35 An off-chain atomic swap , on the other hand, takes place on a separate layer away from the chains, which can support the swapping process... 27 Bitscale PBFT Blockchain-Based Double-Layer Byzantine Fault ... MDPI https://www.mdpi.com ... MDPI https://www.mdpi.com ... WN Suliyanti 2023 1 A Practical Byzantine Fault Tolerance ( PBFT ) is a consensus algorithm deployed in a consortium blockchain that connects a group of related participants. Bitscale interoperability atomic EMURGO Academy: Learn About Blockchain ... Emurgo https://www.emurgo.io press-news emurg... Emurgo https://www.emurgo.io press-news emurg... 2022629 Off-chain swaps using second - layer state channels that are separate from the primary blockchain itself. Click here to read about EMURGO... Bitscale PBFT What is an atomic swap? Bitpanda https://www.bitpanda.com academy lessons Bitpanda https://www.bitpanda.com academy lessons There are two types of atomic swaps : on-chain swaps between two different cryptocurrencies on two seperate blockchains, and off-chain swaps on second - layer ... Bitscale PBFT Evolution of blockchain consensus algorithms: a review on the ... SpringerOpen https://cybersecurity.springeropen.com arti... SpringerOpen https://cybersecurity.springeropen.com arti... Z Hussein 2023 Proof-of-Stake (PoS) is a fresher consensus algorithm that allows nodes in the network to authenticate transactions and create new blocks based... Bitscale atomic A Systematic Review of Consensus Mechanisms in ... MDPI https://www.mdpi.com ... MDPI https://www.mdpi.com ... S Zhou 2023 6 Research on cryptocurrency pushed the development of the international monetary system and

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Skip to search form Skip to main content Skip to account menu DOI: 10.1109/TPDS.2020.3042392 Corpus ID: 229625031 A Scalable Multi-Layer PBFT Consensus for Blockchain @article{Li2020ASM, title={A Scalable Multi-Layer PBFT Consensus for Blockchain}, author={Wenyu Li and Chengli Feng and Lei Zhang and Hao Xu and Bin Cao and Muhammad Ali Imran}, journal={IEEE Transactions on Parallel and Distributed Systems}, year={2020}, volume={32}, pages={1146-1160}, url={https://api.semanticscholar.org/CorpusID:229625031} } Wenyu Li , Chengli Feng , +3 authors M. Imran Published in IEEE Transactions on Parallel 29 November 2020 Computer Science, Engineering TLDR An optimal double-layer PBFT is proposed and it is proved that when the nodes are evenly distributed within the sub-groups in the second layer, the communication complexity is minimized and the security threshold is analyzed based on faulty probability determined (FPD) and faulty number determined models, respectively. Expand View on IEEE ieeexplore.ieee.org Save to Library Save Create Alert Alert Cite Share 145 Citations Highly Influential Citations 15 Background Citations 75 Methods Citations 26 View All Figures and Tables from this paper figure 1 table 1 figure 2 table 2 figure 3 figure 4 figure 5 figure 6 figure 7 figure 8 figure 9 figure 10 View All 12 Figures & Tables Topics AI-Generated PBFT System (opens in a new tab) Practical Byzantine Fault Tolerance (opens in a new tab) Blockchains (opens in a new tab) Consensus Mechanisms (opens in a new tab) Byzantine Fault Tolerance (opens in a new tab) Transactions (opens in a new tab) Fully Probabilistic Design (opens in a new tab) Introduction Internet (opens in a new tab) Fake News Detection (opens in a new tab) 145 Citations Citation Type Has PDF Author More Filters More Filters Filters Sort by Relevance Sort by Most Influenced Papers Sort by Citation Count Sort by Recency Performance Modeling and Analysis of Hotstuff for Blockchain Consensus Yahya Shahsavari Kaiwen Zhang C. Talhi Computer Science, Engineering 2022 Fourth International Conference on 2022 TLDR A theoretical model for the Hotstuff consensus mechanism is presented which accurately predicts blockchain-related metrics such as the transaction throughput and expected confirmation time using important networking parameterssuch as the number of replicas, link latency, and packet loss. Expand 1 Excerpt Save GT-NRSM: efficient and scalable sharding consensus mechanism for consortium blockchain Tao Shen Tianyu Li Zhuo Yu Fenhua Bai Chi Zhang Computer Science The Journal of Supercomputing 2023 TLDR This work proposes a node reliable shard model based on guarantee tree that achieves high scalability while maintaining a certain degree of decentralization and security based on consortium blockchain and proposes a Dual-Leaders supervision mechanism. Expand PDF Save An Efficient and Secure Node-sampling Consensus Mechanism for Blockchain Systems Zhelin Liang Hao Xu Xiulong Liu Shan Jiang Keqiu Li Computer Science 2022 18th International Conference on Mobility 2022 TLDR This paper proposes NS-consensus, a secure node-sampling blockchain consensus mechanism reducing the communication complexity significantly, and designs a mechanism to enable the leader to interact with all blockchain nodes in the last consensus phase, ensuring the denial of malicious proposals. Expand 1 Excerpt Save SoK: Scalability Techniques for BFT Consensus Christian Berger Signe Schwarz-Rsch +4 authors R. Kapitza Computer Science 2023 IE

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NEW Early Access for Chainlink Staking v0.2 is now live. Stake your LINK today. SmartCon is LIVE right now. Discover 200+ leading DeFi, NFT, and blockchain projects. Sign up today Win your share of 500k+ in prizes. Sign Up Now Join the biggest names in finance and tech Watch live now Chainlink Labs is hiring. Come join an industry-leading team. See current openings What Is a Smart Contract? History of Smart Contracts How Smart Contracts Work Smart Contract Examples Smart Contract Benefits Smart Contract Use Cases Smart Contract Limitations Share Education / Cross-chain Last Updated Date: November 30, 2023 Definition DEFINITION Atomic swaps enable peer-to-peer exchanges of crypto assets across separate blockchain networks. Through the use of a virtual vault known as a time-bound smart contract, funds can only be unlocked when both parties deposit the correct amount of assets. Securely moving assets across various blockchain networks is critical for unlocking trapped liquidity and attracting more users to the spacewhile maintaining Web3s core value of trust-minimization. Atomic swaps are a way for two people to trade tokenized assets across different blockchain networks without relying on a centralized intermediary to facilitate the transaction. This provides DeFi users with a way to maintain high levels of decentralization as they move across the multi-chain Web3 ecosystem. <div class="educational-divider sections-divider"></div> What Are Atomic Swaps? Atomic swaps enable peer-to-peer exchanges of crypto tokens across different blockchain networks that only execute if both parties each deposit a predetermined amount of tokens to the exchange contract. This enables any two users to swap digital tokens without relying on a third party to facilitate the transactionthereby reducing counterparty risks. Atomicity is a software term that refers to database transactions that only execute in full or not at all. Named accordingly, atomic swaps either receive the necessary token deposits from each user and perform the swap or return all deposited tokens to their original owner. <div class="educational-divider sections-divider"></div> How Do Atomic Swaps Work? Atomic swaps use a hash timelock contract (HTLC) which acts as a virtual vault or cryptographic escrow account that keeps user funds safe and only executes when the correct amount of tokens has been deposited to the contract. Each user must acknowledge receipt of tokens within a specified interval to unlock them. Hashed Timelock Contract (HTLC) An HTLC is a time-bound smart contract where a private key and cryptographic hash are used to control access to funds. Each party must meet all of the swap agreements for it to be finalized, otherwise, tokens revert to their original owner. An HTCL consists of two core security features: Hashlock key Both parties must submit cryptographic proofs verifying that they have met their side of the swap contract. Timelock key If the proofs are not submitted within a preset time limit, the deposited coins are returned to the original owner. Example of an Atomic Swap Alice agrees to swap 10 X tokens with Bob for 10 Y tokens. They create an HTLC that will expire in one hour. Alice creates a contract address and deposits her 10 X tokens to it. This generates a private key that only Alice has access to. Alice creates a cryptographic hash of the private key and sends it to Bob. Bob uses the hash to verify that Alice has deposited 10 X tokens to the contract address. Bob cannot access the funds because he only has the hash, not the actual private key. Bob uses the hash to generate a new contract address where he deposits his 10 Y tokens. Now both parties have deposited their funds to the contract. Because Bob created the address using the hash of Alices private key, Alice is able to

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Always active Inactive Inactive The original purpose of blockchain entails value transfers without the need for trusted third parties. Limitations of blockchains extend past the issue of scalability Atomic swaps offer a way to swap cryptocurrencies peer-to-peer from different blockchains directly Timely execution of a Bitcoin transfer during an atomic swap is ensured by Hashed Timelock Contracts (HTLCs) In this article, you will learn about the basics of atomic swaps. Moving cryptocurrencies between blockchains As the realm of cryptocurrencies and blockchain technology is rapidly evolving with ever-increasing numbers of tokens, real-life use cases and functionalities, the actual interoperability between blockchains is still a cumbersome endeavour. Limitations of many blockchains extend past the issue of scalability . Different use cases for blockchains mean different needs and standards in terms of network architecture and technology in a fractured blockchain space. This fragmentation prevents streamlining and hinders further development, while exposing blockchains to security vulnerabilities and ultimately slowing down adoption and the industry as a whole. The case for swapping cryptocurrencies All things considered, if you currently want to swap cryptocurrencies, it is a cumbersome endeavor. In any case, you need to log in to a cryptocurrency exchange , where the first issue may arise regarding the two cryptocurrencies you want to swap. Cryptocurrencies have fixed trading pairs which means that the pair of cryptocurrencies you want to trade against each other may not be available. Exchanges only have limited offers available. Preset combinations provided by the exchange of your choice mean that you, as a user, either have to live with the situation or opt for inconvenience through swapping across multiple currencies on various exchanges. There is also the potential for exchange downtimes and volume loss on top of barriers. This is where atomic swaps come in. The basics of atomic swaps Atomic swaps, also known as atomic cross-chain trading, offer a way to swap cryptocurrencies peer-to-peer from different blockchains directly without the requirement for a third party, such as an exchange. Obviously such a swap has to take place in a set time frame, which - in Bitcoin - is ensured by a special type of smart contract called Hashed Timelock Contract (HTLC). A HTLC has an inbuilt timer ensures that the transaction is completed within the set timeframe. If the transaction is not executed within this time frame, it is automatically cancelled. There are two types of atomic swaps: on-chain swaps between two different cryptocurrencies on two seperate blockchains, and off-chain swaps on second-layer channels off a main blockchain, such as the Lightning Network. Since payments on the Lightning Network dont require block confirmations or compete for space within blocks, they are convenient to use in environments where instant transaction speed is a high priority, such as in retail. They also help to pave the way of instant micropayments in the expanding space of internet-connected devices. Atomic Swap Process New to Bitpanda? Register your account today! Sign up here Despite their potential, atomic swaps have only been conducted with success using prototype systems with limited user-friendliness preventing mainstream adoption at this point. Furthermore, the concept behind conventional atomic swaps also comes with limitations. Additionally, basic user knowledge of coding is a must. Also, atomic swaps in their current form are neither fast enough for mass adoption, nor do enough wallet providers allow the method, consequently forcing users to hold on to depr

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/ Bitscale PBFT ZKEVM Taproot 0 0.28 - Andrew - - Andrew - - Andrew - 6

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Next Article in Journal Development and Investigation of High-Temperature Ultrasonic Measurement Transducers Resistant to Multiple HeatingCooling Cycles Next Article in Special Issue A Taxonomic Hierarchy of Blockchain Consensus Algorithms: An Evolutionary Phylogeny Approach Previous Article in Journal Towards Real-Time Hyperspectral Multi-Image Super-Resolution Reconstruction Applied to Histological Samples Previous Article in Special Issue Continuous and Secure Integration Framework for Smart Contracts Journals Active Journals Find a Journal Proceedings Series Topics Information For Authors For Reviewers For Editors For Librarians For Publishers For Societies For Conference Organizers Open Access Policy Institutional Open Access Program Special Issues Guidelines Editorial Process Research and Publication Ethics Article Processing Charges Awards Testimonials Author Services Initiatives Sciforum MDPI Books Preprints.org Scilit SciProfiles Encyclopedia JAMS Proceedings Series About Overview Contact Careers News Press Blog Sign In / Sign Up Notice clear Notice You are accessing a machine-readable page. In order to be human-readable, please install an RSS reader. Continue Cancel clear All articles published by MDPI are made immediately available worldwide under an open access license. No special permission is required to reuse all or part of the article published by MDPI, including figures and tables. For articles published under an open access Creative Common CC BY license, any part of the article may be reused without permission provided that the original article is clearly cited. For more information, please refer to https://www.mdpi.com/openaccess . Feature papers represent the most advanced research with significant potential for high impact in the field. A Feature Paper should be a substantial original Article that involves several techniques or approaches, provides an outlook for future research directions and describes possible research applications. Feature papers are submitted upon individual invitation or recommendation by the scientific editors and must receive positive feedback from the reviewers. Editors Choice articles are based on recommendations by the scientific editors of MDPI journals from around the world. Editors select a small number of articles recently published in the journal that they believe will be particularly interesting to readers, or important in the respective research area. The aim is to provide a snapshot of some of the most exciting work published in the various research areas of the journal. Submit to this Journal Review for this Journal Propose a Special Issue Article Menu Article Menu Academic Editors Madiha Shahzad Kashif Kashif Subscribe SciFeed Related Info Links PubMed/Medline Google Scholar More by Authors Links on DOAJ Lu, S. Pei, J. Zhao, R. Yu, X. Zhang, X. Li, J. Yang, G. on Google Scholar Lu, S. Pei, J. Zhao, R. Yu, X. Zhang, X. Li, J. Yang, G. on PubMed Lu, S. Pei, J. Zhao, R. Yu, X. Zhang, X. Li, J. Yang, G. /ajax/scifeed/subscribe Article Views Citation

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NEW Early Access for Chainlink Staking v0.2 is now live. Stake your LINK today. SmartCon is LIVE right now. Discover 200+ leading DeFi, NFT, and blockchain projects. Sign up today Win your share of 500k+ in prizes. Sign Up Now Join the biggest names in finance and tech Watch live now Chainlink Labs is hiring. Come join an industry-leading team. See current openings What Is a Smart Contract? History of Smart Contracts How Smart Contracts Work Smart Contract Examples Smart Contract Benefits Smart Contract Use Cases Smart Contract Limitations Share Education / Cross-chain Last Updated Date: August 9, 2023 Definition DEFINITION Cross-chain smart contracts are applications made up of multiple smart contracts deployed across multiple blockchain networks, creating a single decentralized application. Cross-chain smart contracts are decentralized applications that are composed of multiple different smart contracts deployed across multiple different blockchain networks that interoperate to create a single unified application. This new design paradigm is a key step in the evolution of the multi-chain ecosystem and has the potential to create entirely new categories of smart contract use cases that leverage the unique benefits of different blockchains, sidechains, and layer-2 networks. In this article, we explore the rise of the multi-chain ecosystem, outline the benefits and challenges of existing multi-chain smart contract strategies, and explain how cross-chain smart contracts present a paradigm shift in how blockchain-based decentralized applications are created. We then look at some of the innovative use cases unlocked by cross-chain smart contracts and outline how the Cross-Chain Interoperability Protocol (CCIP) can help facilitate this transition by enabling secure cross-chain communication between blockchains. The Rise of the Multi-Chain Ecosystem Historically, the adoption of smart contracts has largely taken place on the Ethereum mainnet due to it being the first blockchain network to support fully programmable smart contracts. Alongside its first-mover advantage, additional factors have also contributed to Ethereums adoption, such as its growing network effect, decentralized architecture, time-tested tooling, and an extensive community of Solidity developers. However, rising demand for Ethereum smart contracts has led to an increase in network transaction fees over time, as demand for Ethereums blockspace (computing resources) exceeds supply. While the Ethereum mainnet continues to provide one of the most secure networks for smart contract execution, many end-users have begun to seek lower-cost alternatives. In response, the adoption of smart contracts on alternative layer-1 blockchains, sidechains, and layer-2 rollups has rapidly increased in the past year in order to meet the needs of users and developers. Once just a theory, the multi-chain ecosystem is now a definitive reality, as demonstrated by the increasing diversification of the DeFi ecosystems Total Value Locked across various on-chain environments. Additional on-chain metrics, such as daily active addresses, transaction count, and network bandwidth consumption, also clearly show the growth of the multi-chain ecosystem. The growth of the multi-chain DeFi ecosystem over time. The availability of new on-chain environments has increased the total aggregate throughput of the smart contract economy as a whole, leading to the onboarding of more users who are able to transact at a lower cost. Furthermore, each blockchain, sidechain, and layer-2 network offers its own approach to scalability, decentralization, mechanism design, consensus, execution, data availability, privacy, and more. In the multi-chain ecosystem, all of these different approaches can be implemented and battle-tested in parallel to push forward the

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Open in app Sign up Sign in Write Sign up Sign in Cross-Chains: How Blockchains Communicate With Each Other PPIO Follow 9 min read Oct 12, 2019 -- Listen Share Recognized as an integral technology, we examine cross-chains to better understand how blockchains can communicate with each other. When blockchains were first being built, they were envisioned as being able to provide a one size fits all solution, meaning that all transactions, smart contracts, or anything else is performed on a single chain. However, its clear now that such a system isnt so practical, especially when there are scalability limits and innovation constraints. A cross-chain is the interoperability between two relatively independent blockchains. In other words, it allows blockchains to speak to one another because theyre built in a standardized way. Cross-chain implementation is mainly represented by asset swap and asset transfer, which is both an important part of the blockchain world and a key research direction of PPIO. With cross-chains, the limitations of a single chain can be avoided. Today we will explore the logical structure of the Cosmos cross-chain protocol, one of the most promising cross-chain platforms. Cross-chain interaction can be divided into isomorphic cross-chains and heterogeneous cross-chains according to the different underlying technology. For isomorphic chains, the security mechanism, consensus algorithm, network topology, and block generation verification logic are consistent and the cross-chain interaction between them is relatively simple. On the other hand, the cross-chain interaction of heterogeneous chains is relatively complex and includes technology such as the PoW algorithm for Bitcoin and PBFT consensus algorithm for Tendermint. The block composition and the deterministic guarantee mechanism are quite different, therefore a direct cross-chain interaction mechanism is not easy to design. Cross-chain interaction between heterogeneous chains generally requires third-party ancillary services. How to Realize Isomorphism Across Chains? Chains developed based on Tendermint can adopt isomorphic cross-chains . The principle of asset transfer between isomorphic chains in Cosmos is as follows. Since Tendermint uses the PBFT+POS consensus algorithm, a block is only submitted to the network when 23 certifiers agree. The Validator information can be verified by checking the block header to verify whether the block header is legal in a certain chain. As an example, Tendermint is developing two chains: Chain A and Chain B. Now assume that assets need to be transferred across the chain. Firstly, the two chains, A and B, will register with each other. In the process of registration, A and B recognize their separateness. The chain will then send the respective genesis blocks and ChainID (used to represent different chains) to each other. Since the genesis block contains the Validator information, after registration, A and B chains will have the Validator information of the other chain, as well as block header information. Now the assets in A need to be transferred to B. First, the user can send a cross-chain transaction packageTx to A. A executes the packageTx, destroys or locks the related assets, and then writes packageTx to the egress. The egress can be regarded as a mailbox where all externally notified cross-chain transactions are placed. In order to notify chain B of events occurring in chain A, a relayer is needed. The relayer is responsible for forwarding cross-chain messages from the egress in chain A to chain Bs egress. In this situation, the relayer queries the packageTx in chain As egress and obtains the Merkle Proof of packageTx. The information is packaged into IBC Package PostTx transaction and sent to chain B, which queries block header information as to where packageTx is located. It als

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Page Contents 1 Advantages 2 Approach 3 Merkle Trees, Merkle Roots, Merkle Paths and Merkle Proofs 4 SPV Wallet 5 Offline Payment Navigation Main page Recent changes Random page Help about MediaWiki Tools What links here Related changes Special pages Printable version Permanent link Page information Simplified Payment Verification Simplified Payment Verification (SPV) is described in section 8 of the Bitcoin whitepaper . It allows a transaction recipient to prove that the sender has control of the source funds of the payment they are offering without downloading the full Blockchain , by utilising the properties of Merkle proofs . This does not guarantee that the funds have not been previously spent, this assurance is received by submitting the transaction to the Bitcoin miners. However, in such a case the SPV proof acts as strong evidence of fraud backed by legally recognised digital signature technology. SPV allows users to securely transact with each other, peer-to-peer, while nodes act to form the settlement layer. Advantages The advantages of using SPV are clear in terms of the volume of data required: a wallet can store all necessary block headers in around 50MB - this covers the entire block chain (as of January 2020, with 80 bytes per block and around 620,000 blocks in the chain). The total grows linearly at around 4MB per year (i.e. it increases by 80 bytes with each block mined, regardless of the size of that block). contrast this with the hundreds of gigabytes which would be required to store the entire chain, if SPV were not being used. The size of the data required for the merkle paths is of maximum bytes, where is the total number of transaction in one block. As explained in Section 8 of the Bitcoin whitepaper : " ... [An SPV client] only needs to keep a copy of the block headers of the longest proof-of-work chain, which he can get by querying network nodes until he's convinced he has the longest chain, and obtain the Merkle branch linking the transaction to the block it's timestamped in ... And in Section 7: " ... A block header with no transactions would be about 80 bytes. If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year ..." Approach There have been a lot of previous misunderstandings around SPV and peer-to-peer transacting. Previously, the custom had been for the sender of the payment to just broadcast the payment to the Bitcoin network nodes. The receiver of the payment would then need to somehow filter through all of the transactions coming onto the network for specific transactions relating to them (an extremely difficult task in of itself). Even if the sender sent the transaction to the receiver as well as the network nodes, the custom had been for the receiver to always wait for the transaction to be confirmed at least 6 times whatever the transaction type, amount or situation. The better approach is that transactions between SPV clients are negotiated peer-to-peer and settled on the ledger through the network nodes. An analogy for this is a transaction done using cheque at a much faster speed. The customer hands the the signed cheque (transaction) to the merchant, who then banks or cashes the cheque (settles the transaction on chain). When/if the merchant is satisfied according to the situational risk of the transaction, then they can hand over the goods or services. There is no such thing as absolute security, there is always a risk against the cost of being defrauded (which decreases exponentially as time goes by). If the transaction is only for a cup of coffee, then

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Home Resources Management Special Purpose Vehicle (SPV) Special Purpose Vehicle (SPV) A separate legal entity created by an organization for a specific objective Over 1.8 million professionals use CFI to learn accounting, financial analysis, modeling and more. Start with a free account to explore 20+ always-free courses and hundreds of finance templates and cheat sheets. Start Free Written by CFI Team What is a Special Purpose Vehicle (SPV)? A Special Purpose Vehicle (SPV) is a separate legal entity created by an organization. The SPV is a distinct company with its own assets and liabilities , as well as its own legal status. Usually, they are created for a specific objective, often to isolate financial risk. As it is a separate legal entity, if the parent company goes bankrupt , the special purpose vehicle can carry on. A special purpose vehicle can be a bankruptcy-remote entity because the operations of the entity are restricted to the purchase and financing of specific assets or projects. The typical legal forms of special purpose vehicles are partnerships, limited partnerships, or joint ventures . Moreover, in some cases, it is required that the SPV should not be owned by the company on whose behalf the entity is created. Learn more in CFIs Financial Analyst Training Program . Uses of Special Purpose Vehicles The following are the most common reasons for creating SPVs: 1. Risk sharing A corporations project may entail significant risks. Creating an SPV enables the corporation to legally isolate the risks of the project and then share this risk with other investors. 2. Securitization Securitization of loans is a common reason to create an SPV. For example, when issuing mortgage-backed securities from a pool of mortgages, a bank can separate the loans from its other obligations by creating an SPV. The SPV allows investors in the mortgage-backed securities to receive payments for these loans before other creditors of the bank. 3. Asset transfer Certain types of assets can be hard to transfer. Thus, a company may create an SPV to own these assets. When they want to transfer the assets, they can simply sell the SPV as part of a merger and acquisition (M&A) process . 4. Property sale If the taxes on property sales are higher than the capital gain realized from the sale, a company may create an SPV that will own the properties for sale. It can then sell the SPV instead of the properties and pay tax on the capital gain from the sale instead of having to pay the property sales tax. Benefits and Risks of Special Purpose Vehicles Benefits: Isolated financial risk Direct ownership of a specific asset Tax savings, if the vehicle is created in a tax haven such as the Cayman Islands Easy to create and set up the vehicle Risks: Lower access to capital at the vehicle level (since it doesnt have the same credit as the sponsor) Mark to Market accounting rules could be triggered if an asset is sold, significantly impacting the sponsors balance sheet Regulatory changes could cause serious problems for companies using these vehicles The optics surrounding SPVs are sometimes negative Learn more from Wharton about special purpose vehicles and why companies use them. Additional Resources Thank you for reading CFIs guide on Special Purpose Vehicle (SPV). To keep learning and advancing your finance career, we highly recommend the additional CFI resources below: Variable Interest Entity (VIE) Special Purpose Acquisition Company (SPAC) Structured Investment Vehicle (SIV) Venture Capital Trust (VCT) See all management & strategy resources Share this article Get Certified for Capital M

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/ Bitscale SPV mechanism for Bitcoin transfer 8 0.35 How SPV helps to scale Bitcoin BSV Blockchain https://bsvblockchain.org news how-spv-... BSV Blockchain https://bsvblockchain.org news how-spv-... 2022517 A Merkle Proof is the mechanism ... Overlay networks enable the creation of advanced transaction models and extend the capabilities of the Bitcoin... Bitscale | Bitscale How does an SPV work Bitcoin? What is the difference between full nodes and SPVs Bitcoin wallets? How does simplified payment verification work? What is SPV verification? Simplified Payment Verification Bitcoin SV Wiki https://wiki.bitcoinsv.io index.php Simpli... Bitcoin SV Wiki https://wiki.bitcoinsv.io index.php Simpli... 2022814 An SPV wallet is a lightweight wallet that uses the mechanism of SPV to construct Bitcoin transactions and payments. To spend a UTXO, a user of... Bitscale | Bitscale Simplified Payment Verification (SPV) - BitcoinWiki bitcoinwiki.org https://en.bitcoinwiki.org wiki Simplified... bitcoinwiki.org https://en.bitcoinwiki.org wiki Simplified... It ensures your transactions are in a block , and it provides confirmations (proof of work) that additional blocks are being added to the chain. So, SPV wallet... Bitscale mechanism What Is a Special Purpose Vehicle (SPV) and Why ... Investopedia https://www.investopedia.com terms spv Investopedia https://www.investopedia.com terms spv The SPV can be used to isolate financial risk, securitize assets, and perform separate financial transactions . SPVs have been used in the past to alter company... Bitscale Bitcoin Special Purpose Vehicle (SPV) Corporate Finance Institute https://corporatefinanceinstitute.com specia... Corporate Finance Institute https://corporatefinanceinstitute.com specia... The SPV allows investors in the mortgage-backed securities to receive payments for these loans before other creditors of the bank. 3. Asset transfer. Certain... Bitscale mechanism Bitcoin What Is a Special Purpose Vehicle (SPV) and Why Companies ... Investopedia Simplified Payment Verification (SPV) BitcoinWiki BitcoinWiki Special Purpose Entity/Vehicle Investopedia 6 Special Purpose Vehicles and Securitization National Bureau of Economic Research https://www.nber.org system files chapters National Bureau of Economic Research https://www.nber.org system files chapters PDF GB Gorton 2007 721 An SPV , or a special purpose entity (SPE), is a legal entity created by a firm (known as the sponsor or originator) by transferring assets to the SPV , to carry... 55 Bitscale Bitcoin next-chapter-creating-understanding-of-spvs.pdf PwC https://www.pwc.com publications assets n... PwC https://www.pwc.com publications assets n... PDF 2011121 The SPV starts a circular transaction by transferring the money raised first to

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Search for Blog Home About Categories Start Learning! Fraud Proofs and SPV (Lightweight) Clients - Easier Said than Done? cryptography Explore Topics Learning paths Learning Paths Learning about Blockchain Basics Mimblewimble Implementation Learning about Bulletproofs Cryptography Cryptography Elliptic Curves Introduction to Schnorr Signatures Introduction to Scriptless Scripts The MuSig Schnorr Signature Scheme Fraud Proofs and SPV (Lightweight) Clients - Easier Said than Done? Bulletp

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Open in app Sign up Sign in Write Sign up Sign in Building the Most Secure, Permissionless and Uncensorable Bitcoin Peg Sergio Demian Lerner Follow Published in Innovation Stories 18 min read Dec 2, 2020 -- 7 Listen Share by Sergio Demian Lerner and Sebastian Lindner TLDR . RSKs 2-way peg protocol, called the Powpeg, has matured from its inception in 2018 as a federation to now include many decentralized qualities. The new RSK Powpeg protects private keys stored in special purpose PowHSMs based on tamper-proof secure elements (SE). Each PowHSM runs an RSK node in SPV mode, and so signatures can only be commanded by chain cumulative proof of work. Security is established in the Powpeg through the simplicity of a layered design we refer to as defense-in-depth . As Bitcoiners value security over the latest over-hyped functionality, we expect RSK to become the first choice of DeFi for Bitcoiners. Developers have a unique opportunity to build their dApps on a money vault , instead of money Lego. We encourage all Bitcoiners and DeFi players to use RSK and benefit from our 2 years of uninterrupted 2-way peg security combined with a merge-mined consensus backed by more than 50% of Bitcoin mining hashrate. Introduction At RSK, our vision is to change the world for the better by creating a new and more inclusive financial system backed by the security of Bitcoin. We have already built the pillars of the ecosystem on the RSK sidechain through key innovative technologies. One such technology is a secure and robust 2-way peg called the Powpeg. A greater number of Bitcoiners are using RSK with more bitcoins as the robustness and security of the peg grows stronger. Bitcoiners value security over all, and we are committed to reach the highest security standards possible. The strength of RSKs 2-way peg is paving the way for the Defi for Bitcoin movement, which is currently entering a new stage. Developers can find a unique opportunity to build their dApps on our secure and efficient money vault. The RSK 2-way peg has been running uninterrupted since 2018, but under the hood, it has evolved. In general, two blockchains with distinct block formats can communicate in a fully decentralized manner if each one can evaluate the other blockchains consensus rules, and if cross-chain messages are not censored for long periods of time. Currently, only platforms with Turing-complete smart contracts can evaluate other blockchain consensus rules. Bitcoin for better or for worse lacks the ability to unlock coins over arbitrary predicates. Therefore, when we decided to create the first Bitcoin sidechain, we had to adapt to the only existing technology in Bitcoin to distribute trust among parties: multi-signatures. With a multi-signature it is possible to give a group of notaries the task to protect locked bitcoins, tolerating a certain amount of malicious, hacked or unavailable parties. When the RSK genesis block was mined, the RSK Federation, an autonomous set of functionaries aimed at protecting the multi-signature, was born. The federation is controlled by the RSK Bridge, an unstoppable smart-contract running on RSK, and has been successfully working for over two years. In 2020 the RSK community decided it was time for the RSK peg to grow, both in security and in censorship resistance, evolving from a federated system to the Powpeg. The Powpeg is a unique 2-way peg system that secures the locked bitcoins with the same Bitcoin hashrate that establishes consensus. The set of functionaries still exists, but their role is mainly to keep their hardware and nodes connected and alive at all times; they do not directly control the Bitcoin multisig private keys. To highlight their new role and responsabilities, we call them pegnatories . In this article we describe the key features of how the Powpeg works b

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Open in app Sign up Sign in Write Sign up Sign in Bitcoin Sidechains Sergio Demian Lerner Follow Published in Innovation Stories 11 min read Feb 25, 2021 -- 4 Listen Share In this post I talk about what is a Bitcoin sidechain and why they have a key role in the cryptocurrency Ecosystem. Lets start by briefly reviewing the history of sidechains. The first attempt to build a sidechain dates back to 2012, much earlier than people think. The first technical paper that fully describes a Bitcoin sidechain was published in 2014 by Blockstreams researchers. However the ideas on that paper were abandoned. In December 2015 RSK published its whitepaper , and began immediately working on the sidechain code based on a hybrid SPV-federated peg, with the potential to be extended to a drivechain, as presented in a BIP . In November 2016, RSK launched its first testnet network (connected to the Bitcoin testnet) and began testing their smart-contract applications with testnet bitcoins. Meanwhile, Blockstream started working on a federated peg, and published their design in January 2017. By 2017 RSK had performed several releases, and testnet resets. In January 2018, RSK finally launched its full-featured mainnet network. RSK native coin is BITCOIN and the RSK codebase does not mention any other token but BITCOIN. With the growth of the RSK ecosystem, many ERC-20 tokens were issued by the community, powering some of the most exciting DeFi applications. In September 2018 Blockstream launched the Liquid Network sidechain. Since then, no other Bitcoin sidechain has been launched to production, although there has been some advancements in drivechains, and a drivechain testnet has been launched. There has been other sidechain-like developments, such as statechains , but no testnet is yet available. Blockchain Bridges Two blockchains can exchange assets using a two-way-peg system, often called bridge. A bridge is a kind of communication protocol across ledgers. There are many kinds of bridges: Powpegs , SPV, hybrid-SPV, federated and collateralized. Each bridge has pros and cons. But not only sidechains build bridges. Many blockchains such as Ethereum, EOS or Polkadot use bridges to bring other coins into their platforms despite having their own native currencies. A federated bridge consists of a set of functionaries that participate in a multi-signature custody of the pegged assets. The Liquid Bitcoin sidechain has a federated peg. There is an RSK/ETH federated peg as well. In a Powpeg , the federation is replaced by a set of pegnatories, each running a special Hardware Security Module (HSM) that protects a private key of the multisig. Each HSM follows the blockchain PoW consensus to receive peg-out commands, therefore preventing pegnatories to have direct access to the pegged funds. RSKs peg with Bitcoin is secured by a Powpeg. In a collateralized bridge, the functionaries (called vaults) have full access to the private keys that control the bitcoins, but they need to deposit a collateral so if they steal the bitcoins in the peg, they are penalized by slashing their deposits. The amount of collateral must be greater than the pegged assets (overcollateralization) to prevent theft. If the collateral value is not enough because of rapid variations on the relative coin prices, an automatic liquidation process occurs. The consequence of this is that the collateral value must be much greater than the value of the whole economy enabled by the pegged asset. Its surprisingly capital inefficient. One example of a collateralized bridge is PolkaBTC , which connects Bitcoin with Polkadot. What it Means to be a Bitcoin Sidechain Informally, a Bitcoin sidechain is an independent blockchain that can securely transfer bitcoins internally and from/to the Bitcoin network without su

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docs.rsk.co

Open in app Sign up Sign in Write Sign up Sign in CRYPTOTECH ANNOUNCEMENT Follow 10 min read Jan 4, 2021 -- Listen Share Sifchain AMA Recap: CRYPTOTECH_COMMUNITY Earlier today the Sifchain team joined the CRYPTOTECH Community telegram to connect with the community and answer any question they had relating to Sifchain mission,tech,proggress on our journey so far, recent updates and our plans moving forward. Sifchain team took park in a particularly exciting AMA session which included introductions with the telegram Community. If you missed the AMA live, have a read through this recap to again some deeper insights intoSifchain. You also need to know that our AMA this time has a $100 prize inUSDT. INTRODUCTION Inong Cryptotech: Hello @luke_use_the_force welcome to your first AMA at Cryptotech. We are glad to have joined hands in a strategic partnership. Today I hope you can share with us more information about Sifchain in the Cryptotech Group. Luke K: Its an honor to be with you all! Sifchain is named after the goddess Sif. Check this out:) https://en.wikipedia.org/wiki/Sif Inong Cryptotech: are you ready to start event today? Inong Cryptotech: Lets go, everyone should know about this amazing project Okey, Before starting the first session, I will ask a little about yourself @luke_use_the_force Luke K: Sounds good. Inong Cryptotech: Please share your background to our members Luke K: Im Luke. I oversee marketing and business development for Sifchain. I used to be involved with blockchain and digital banking in Switzerland, then a Beijing-based protocol firm with a bunch of different products (e.g. decentralized exchange, wallet, smart contracts, multiple crypto-currencies, public sector blockchain...), and most recently, I was co-founder of the Berkeley Blockchain Xcelerator at UC Berkeley. Our team likes to put Sifchain first, so let's discuss the project from this point. Inong Cryptotech: Nice background Your experince will certainly motivate us in the future Okay, In the first session I will give questions about Sifchain, if you have given an answer please say "Done" Inong Cryptotech: Lets go to the questions in segment 1 Can you tell the members a little about sifchain @luke_use_the_force Luke K: Sure. Sifchain is the worlds first omni-chain decentralized exchange (DEX). We raised a $3.5 million Pre-Functionality Token Sale Agreement seed round led by NGC Ventures, with participation from Alameda Research, Mechanism Capital, AU21 Capital, Danish Chadhry of Bitcoin.com exchange, Bitscale, and others. This was in August 2020. Built with the Cosmos SDK and Inter-Blockchain Communication Protocol (IBC), Sifchain processes substantially more transactions per second than Ethereum, making it 100x more efficient than the current leading Ethereum-based DEXes like Uniswap in terms of both trading fees and transaction speed. Sifchain uses Thorchain as a reference implementation and uses pegged tokens to support cross-chain transactions across a wide array of blockchains. We have a public token launch coming very soon, which you can learn about here: https://medium.com/sifchain-finance/sifchain-public-token-sale-announcement-5a5e9bd9a2a5 Done. Inong Cryptotech: Next question. Could you expand our knowledge about Your Roadmap this year? Are there any Updates on your Research and development progress? @luke_use_the_force Biweekly Updates are the best way for you to keep up with out progress and activities: https://medium.com/sifchain-finance/sifchain-biweekly-update-5d0a9b846507 Our immediate goal is our BetaNet targeted for 25 January 2021. At that time we are set to support liquidity pools, swaps, Ethereum compatibility through Peggy, and the ability to earn rewards by delegating. Looking farther into the future, margin trading and limit orders are targeted for Q2 202

medium.com

Fig 2 - uploaded by Umut Can abuk Content may be subject to copyright. Download View publication Copy reference Copy caption Embed figure An example run of the two-way pegging protocol. Source publication Sidechains: Highlights and Challenges Conference Paper Full-text available Oct 2019 Blessing Ngonidzashe Musungate Bra Candan Umut Can abuk Gkhan Dalkl The revolutionary concept of blockchain and its applications are spectacularly drawing more and more attention in todays world. The crypto-currency platforms have been on the forefront of implementing blockchain technology. However, the capabilities of blockchains are not limited to monetary transactions. Introduction of smart contracts allowed de... Cite Download full-text Context in source publication Context 1 ... SPV proof is used for the asset transfer: the confirmation and the contest periods. The former is the period in which an asset must be locked on the parent-chain before it can be transferred to a sidechain. The latter is the period in which a newly transferred asset should not be spent (or processed) on the sidechain (to avoid double spending). Fig. 2 shows an example of an asset transfer using two way pegging with ... View in full-text Similar publications A Source-Code-Based Taxonomy for Ethereum Smart Contracts Conference Paper Full-text available Sep 2021 Adrian Hofmann Julian Kolb Luc Becker Axel Winkelmann As blockchain gained a lot of attention in IS research since its emergence, development into networks and applications have made it extremely relevant for multiple industry branches. Yet observations show, that there remains a lack of in-depth knowledge and standardization, particularly in the field of blockchain applications, DApps. These DApps of... View Citations ... Analysis of the DLT mechanisms (Fig. 5) has been performed by the above mentioned criteria. Comparing Blockchain [25], SideChain [26], Tangle [27], Hashgraph [28] [29] in Table II, it was concluded that Blockchain and SideChain have low transaction processing speed. Due to the fact that the components responsible for security (in addition to basic consensus algorithm) are very similar. ... Ensuring the Big Data Traceability in Heterogeneous Data Systems Conference Paper Sep 2023 Maxim Kalinin Maria Poltavtseva Dmitry Zegzhda The work corresponds to the security of Big Data, the key element of the modern digital world. The distributed ledger technology is widely applied to achieve data integrity and confidentiality. However, all relevant solutions are grounded in specific application environments and platforms, what determines the goal to create a universal approach in which Big Data processing components can vary and interchange. The paper proposes a method for ensuring the traceability of Big Data processing in heterogeneous data systems. Traceability is the ability to ensure that data is completely traceable across the entire system. This allows data to be easily followed all the way back to the original sources, audited and controlled. Big Data processing models have been presented. HashGraph and Blockchain distributed ledger mechanisms have been adapted to monitor Big Data processing chains. For tracing Big Data, the appropriate components of the distributed ledger have been modified and implemented. The experiments have been arranged on the test data system processing the big network traffic input, and it has been confirmed that the proposed solution is universal for the ledger technology, does not depend on the Big Data processing platform, and provides Big Data security preserving the computing resources of the protected system. View

researchgate.net

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rootstock.io

Open in app Sign up Sign in Write Sign up Sign in Bitcoin Sidechains Sergio Demian Lerner Follow Published in Innovation Stories 11 min read Feb 25, 2021 -- 4 Listen Share In this post I talk about what is a Bitcoin sidechain and why they have a key role in the cryptocurrency Ecosystem. Lets start by briefly reviewing the history of sidechains. The first attempt to build a sidechain dates back to 2012, much earlier than people think. The first technical paper that fully describes a Bitcoin sidechain was published in 2014 by Blockstreams researchers. However the ideas on that paper were abandoned. In December 2015 RSK published its whitepaper , and began immediately working on the sidechain code based on a hybrid SPV-federated peg, with the potential to be extended to a drivechain, as presented in a BIP . In November 2016, RSK launched its first testnet network (connected to the Bitcoin testnet) and began testing their smart-contract applications with testnet bitcoins. Meanwhile, Blockstream started working on a federated peg, and published their design in January 2017. By 2017 RSK had performed several releases, and testnet resets. In January 2018, RSK finally launched its full-featured mainnet network. RSK native coin is BITCOIN and the RSK codebase does not mention any other token but BITCOIN. With the growth of the RSK ecosystem, many ERC-20 tokens were issued by the community, powering some of the most exciting DeFi applications. In September 2018 Blockstream launched the Liquid Network sidechain. Since then, no other Bitcoin sidechain has been launched to production, although there has been some advancements in drivechains, and a drivechain testnet has been launched. There has been other sidechain-like developments, such as statechains , but no testnet is yet available. Blockchain Bridges Two blockchains can exchange assets using a two-way-peg system, often called bridge. A bridge is a kind of communication protocol across ledgers. There are many kinds of bridges: Powpegs , SPV, hybrid-SPV, federated and collateralized. Each bridge has pros and cons. But not only sidechains build bridges. Many blockchains such as Ethereum, EOS or Polkadot use bridges to bring other coins into their platforms despite having their own native currencies. A federated bridge consists of a set of functionaries that participate in a multi-signature custody of the pegged assets. The Liquid Bitcoin sidechain has a federated peg. There is an RSK/ETH federated peg as well. In a Powpeg , the federation is replaced by a set of pegnatories, each running a special Hardware Security Module (HSM) that protects a private key of the multisig. Each HSM follows the blockchain PoW consensus to receive peg-out commands, therefore preventing pegnatories to have direct access to the pegged funds. RSKs peg with Bitcoin is secured by a Powpeg. In a collateralized bridge, the functionaries (called vaults) have full access to the private keys that control the bitcoins, but they need to deposit a collateral so if they steal the bitcoins in the peg, they are penalized by slashing their deposits. The amount of collateral must be greater than the pegged assets (overcollateralization) to prevent theft. If the collateral value is not enough because of rapid variations on the relative coin prices, an automatic liquidation process occurs. The consequence of this is that the collateral value must be much greater than the value of the whole economy enabled by the pegged asset. Its surprisingly capital inefficient. One example of a collateralized bridge is PolkaBTC , which connects Bitcoin with Polkadot. What it Means to be a Bitcoin Sidechain Informally, a Bitcoin sidechain is an independent blockchain that can securely transfer bitcoins internally and from/to the Bitcoin network without su

medium.com

Table of Contents Expand Table of Contents What Is a Special Purpose Vehicle (SPV)? Understanding SPVs Financials of an SPV How Enron Used SPVs SPV FAQs The Bottom Line Corporate Finance Corporate Finance Basics What Is a Special Purpose Vehicle (SPV)? A special purpose vehicle, also called a special purpose entity (SPE), is a subsidiary created by a parent company to isolate financial risk. Its legal status as a separate company makes its obligations secure even if the parent company goes bankrupt. For this reason, a special purpose vehicle is sometimes called a bankruptcy-remote entity. If accounting loopholes are exploited, these vehicles can become a financially devastating way to hide company debt, as seen in 2001 in the Enron scandal. Key Takeaways An SPV is created as a separate company with its own balance sheet by a corporation in order to isolate financial risk. It may be used to undertake a risky venture while reducing any negative financial impact upon the parent company and its investors. Alternatively, the SPV may be a holding company for the securitization of debt. SPVs are also used by venture capitalists to consolidate a pool of capital to invest in a startup. SPVs have been used in the past by companies to hide financial losses. Investopedia / Theresa Chiechi Understanding Special Purpose Vehicles (SPVs) A parent company creates an SPV to isolate or securitize assets in a separate company that is often kept off the balance sheet. It may be created in order to undertake a risky project while protecting the parent company from the most severe risks of its failure. In other cases, the SPV may be created solely to securitize debt so that investors can be assured of repayment. In any case, the operations of the SPV are limited to the acquisition and financing of specific assets, and the separate company structure serves as a method of isolating the risks of these activities. An SPV may serve as a counterparty for swaps and other credit-sensitive derivative instruments. A company may form the SPV as a limited partnership, a trust, a corporation, or a limited liability corporation , among other options. It may be designed for independent ownership, management, and funding. In any case, SPVs help companies securitize assets, create joint ventures , isolate corporate assets, or perform other financial transactions. In venture capitalism , SPVs are used by a group of investors to pool their assets in order to launch a new business or invest in a startup. SPVs typically make just one investment into a business whereas an investment fund would make multiple investments over a period of time. Financials of an SPV The financials of an SPV may not appear on the parent company's balance sheet as equity or debt. Instead, its assets, liabilities, and equity will be recorded only on its own balance sheet. An investor should always check the financials of any SPV before investing in a company. Remember Enron! Thus, the SPV may mask crucial information from investors, who are not getting a full view of a companys financial situation. Investors need to analyze the balance sheet of the parent company and the SPV before deciding whether to invest in a business. How Enron Used SPVs The massive financial collapse in 2001 of Enron Corp ., a supposedly booming energy company based in Houston, is a prime example of the misuse of an SPV. Enron's stock was rising rapidly, and the company transferred much of the stock to a special purpose vehicle, taking cash or a note in return. The special purpose vehicle then used t

investopedia.com

Light (default) Rust Coal Navy Ayu Introduction Welcome to Tari Labs University (TLU). Our mission is to be the premier destination for balanced and accessible learning material for blockchain, digital currency and digital assets learning material. We hope to make this a learning experience for us at TLU: as a means to grow our knowledge base and internal expertise or as a refresher. We think this will also be an excellent resource for anyone interested in the myriad disciplines required to understand blockchain technology. We would like this platform to be a place of learning accessible to anyone, irrespective of their degree of expertise. Our aim is to cover a wide range of topics that are relevant to the TLU space, starting at a beginner level and extending down a path of deeper complexity. You are welcome to contribute to our online content by submitting a pull request or issue in GitHub . To help you get started, we've compiled a Style Guide for TLU reports. Using this Style Guide, you can help us to ensure consistency in the content and layout of TLU reports. Errors, Comments and Contributions We would like this collection of educational presentations and videos to be a collaborative affair. This extends to our presentations. We are learning along with you. Our content may not be perfect first time around, so we invite you to alert us to errors and issues or, better yet, if you know how to make a pull request, to contribute a fix, write the correction and make a pull request. As much as this learning platform is called Tari Labs University and will see input from many internal contributors and external experts, we would like you to contribute to new material, be it in the form of a suggestion of topics, varying the skill levels of presentations, or posting presentations that you may feel will benefit us as a growing community. In the words of Yoda, Always pass on what you have learned. Guiding Principles If you are considering contributing content to TLU, please be aware of our guiding principles: The topic researched should be potentially relevant to the Tari protocol; chat to us on #tari-research on IRC if you're not sure. The topic should be thoroughly researched. A critical approach should be taken (in the academic sense), with critiques and commentaries sought out and presented alongside the main topic. Remember that every white paper promises the world, so go and look for c

delta1.github.io

Search... CTRL K Rootstock Documentation Expand All + Powpeg 13' to read Edit Share Twitter LinkedIn Facebook Email Copy link Join the Rootstock Global Discord Community to get the latest updates from the Ecosystem! Powpeg Building the Most Secure, Permissionless and Uncensorable Bitcoin Peg Rootstocks (RSK) 2-way peg protocol, called the Powpeg , has matured from its inception in 2018 as a federation to now include many decentralized qualities. The new Rootstock Powpeg protects private keys stored in special purpose PowHSMs based on tamper-proof secure elements (SE). Each PowHSM runs a Rootstock node in SPV mode, and so signatures can only be commanded by chain cumulative proof of work. Security is established in the Powpeg through the simplicity of a layered design we refer to as defence-in-depth. The 2 Way Peg Application is now available on Testnet and Mainnet . For general information about the design and architecture, how to perform a peg-in transaction using Ledger and Trezor, Frequently asked questions and advanced operations you can perform on the 2 way peg app, please refer to the 2 way peg app user guide . Get information on the signatories and attestion in the Powpeg HSM Firmware Attestation section. The History of the Powpeg Two blockchains with distinct block formats can communicate in a fully decentralized manner if each one can evaluate the other blockchains consensus rules, and if cross-chain messages are not censored for long periods of time. Currently, only platforms with Turing-complete smart contracts can evaluate other blockchain consensus rules. Bitcoin, for better or for worse, lacks the ability to unlock coins over arbitrary predicates. Therefore, when Rootstock was created, it had to use the only existing technology in Bitcoin to distribute trust among parties: multi-signatures. With a multi-signature it is possible to give a group of notaries the task to protect locked bitcoins, tolerating a certain amount of malicious, hacked or unavailable parties. When the Rootstock genesis block was mined, the Rootstock Federation, an autonomous set of functionaries aimed at protecting the multi-signature, was born. The federation was controlled by the Rootstock Bridge, an unstoppable smart-contract running on Rootstock, and has been successfully working since its creation. In 2020 the Rootstock community decided it was time for the Rootstock peg to grow, both in security and in censorship resistance, evolving from a federated system to the Powpeg. The Powpeg is a unique 2-way peg system that secures the locked bitcoins with the same Bitcoin hashrate that establishes consensus. The set of functionaries still exists, but their role is mainly to keep their hardware and nodes connected and alive at all times; they do not directly control the Bitcoin multisig private keys. See PowPeg HSM Firmware Attestation The Powpeg in Rootstock The Rootstock researchers and developers strategy when designing the Powpeg differs from the one adopted by other teams that have built 2-way peg protocols. The Rootstock Powpeg is based on a layered security model, a practice we call defence-in-depth . Most other pegs rely on a single all-encompassing cryptographic protocol that solves a multi-party custody problem in an intricate way. These complex cryptographic protocols are delicate and very few entities can audit them thoroughly. Often these types of protocols become compromised, resulting in a sudden loss of security for users. Other recent 2-way peg designs focus on crypto-economic incentives that take advantage of high collateralization in a new token. However, using a different token for the core sidechain functionality is not aligned with Bitcoin values. The Rootstock Powpeg bridge, instead, relies on multiple defences, or layers, with each layer relatively simple to understand and test. This defence-in-depth approach is what has allowed R

dev.rootstock.io

/ 2WP (Two Way Peg) RSK (Rootstock) Blockstream SPV (Simplified Payment Verification) PBFT (Practical Byzantine Fault Tolerance) MAD (Mutually Assured Destruction) Peg SNARKS (Succinct Non-interactive Arguments of Knowledge) CLTV (Check Lock Time Verify) 3 0.41 Rootstock Devportal - Powpeg Rootstock.io https://dev.rootstock.io rsk architecture Rootstock.io https://dev.rootstock.io rsk architecture Rootstock's ( RSK ) 2 - way peg protocol, called the Powpeg, has matured from its inception in 2018 as a federation to now include many decentralized... 2WP Blockstream PBFT Byzantine Tolerance) MAD (Mutually Assured Destruction) SNARKS (Succinct CLTV Is RSK decentralized? What is blockchain used for? Tari Labs University GitHub Pages https://delta1.github.io tari-university print GitHub Pages https://delta1.github.io tari-university print Introduction. Welcome to Tari Labs University (TLU). Our mission is to be the premier destination for balanced and accessible learning material for... Improved Practical Byzantine Fault Tolerance Consensus ... Francis Academic Press https://francis-press.com papers Francis Academic Press https://francis-press.com papers N Sun 2022 Aiming at the problem of insufficient performance and scalability of Practical Byzantine Fault Tolerance ( PBFT ), a two -stage verification algorithm is proposed. 2WP Peg) RSK (Rootstock) Blockstream SPV (Simplified MAD (Mutually Assured Destruction) Peg SNARKS (Succinct Non- interactive Arguments Knowledge) CLTV (Check Lock Time Verify) rsk labs rootstock bridge rbtc rbtc contract address

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Truthcoin.Info Latest Posts Archive Drivechain - The Simple Two Way Peg 24 Nov 2015 With sidechains, altcoins are obsolete, Bitcoin smart contracts are possible, Bitcoin Core and BitcoinXT can coexist, and all hard forks can become soft forks. Cool upgrades to Bitcoin are on the way! Update: This project now has its own website ! See the literature page for the latest changes. Intro Agenda Explain the principles of the sidechain-concept, and what problem must be solved to make sidechains possible. Explain how an SPV proof works. Propose my own SPV proof (Drivechain - skip there now ), and explain the relevant economic and technical tradeoffs. FAQ at the end , for those who read minimally (including comparison to Blockstreams Appendix B ). Reminder Sidechains allow Bitcoin to be fully programmable. Unlike the smart contracts of a general environment like Rootstock/Ethereum, each individual sidechain is completely opt-in: by default, users wont be affected at all by any new programming. Existing Work In Appendix B of the sidechains whitepaper , the authors declined to provide a full design, and warned that this discussion is not exhaustive; optimizing these tradeoffs and formalizing the security guarantees is out of scope for this paper and the topic of ongoing work. Thats what well be doing here. What is a two way peg? A two way peg allows one to transform vanilla Bitcoin into all the other flavors of Altchain one might imagineand back. The total quantity of money (ice cream) remains the same. This combines the best of both worlds : developers can modify Bitcoin however they like, but users can keep their BTC away from any new rules (new vulnerabilities) that they dont like. Explained another way: a 2wp enables you to buy and sell Altcoins at a fixed rate. You could take 3 BTC, use them to purchase 3 side-Litecoin at a fixed 1:1 exchange rate, send those Litecoin to a friend on the Litecoin-chain, and then this friend can then redeem them at the same same 1:1 exchange rate (for exactly 3 BTC, which re-appears on the Bitcoin chain). Unlike today, every Altchain would start with a zero quantity of coins, and so the total number of coins, of all types, would always sum to 21,000,000 (ie, the current total number of BTC, a value which asymptotically grows to 21 million). The question is: how do we pull that off? I will first describe the problem and then my solution. Problem Statement We want to satisfy two constraints: [1] allow some BTC to change their transfer-rules, [2] prevent the original BTC from being affected by these new rules. Moving to New Rules (The Easy Part) Requirements It is easy to get coins to change their protocol rules: we can already do that, with Altcoins. However, that is a one-way transfer, and we need ours to be two way. Transactions must go from Mainchain to Sidechain (way #1), as well as from Sidechain to Mainchain (way #2). Since they are going to be two different chains, a round trip of a BTC to-and-from the sidechain would involve a total of four new things: A BTC, owned by A, leaves the original chain (Transfer Out of the Mainchain). Then, As BTC appears on the Sidechain (Transfer Into the Sidechain). Later, the very side-BTC in #2 (now owned by B) leaves the Sidechain (Transfer Out of the Sidechain). Finally, that BTC (owned by B) reappears on the original Bitcoin blockchain (Transfer Into the Mainchain). Were Halfway There Already Hopefully it is clear that the xfer Outs are v

truthcoin.info

Table of Contents Expand Table of Contents What Is a Special Purpose Vehicle (SPV)? Understanding SPVs Financials of an SPV How Enron Used SPVs SPV FAQs The Bottom Line Corporate Finance Corporate Finance Basics What Is a Special Purpose Vehicle (SPV)? A special purpose vehicle, also called a special purpose entity (SPE), is a subsidiary created by a parent company to isolate financial risk. Its legal status as a separate company makes its obligations secure even if the parent company goes bankrupt. For this reason, a special purpose vehicle is sometimes called a bankruptcy-remote entity. If accounting loopholes are exploited, these vehicles can become a financially devastating way to hide company debt, as seen in 2001 in the Enron scandal. Key Takeaways An SPV is created as a separate company with its own balance sheet by a corporation in order to isolate financial risk. It may be used to undertake a risky venture while reducing any negative financial impact upon the parent company and its investors. Alternatively, the SPV may be a holding company for the securitization of debt. SPVs are also used by venture capitalists to consolidate a pool of capital to invest in a startup. SPVs have been used in the past by companies to hide financial losses. Investopedia / Theresa Chiechi Understanding Special Purpose Vehicles (SPVs) A parent company creates an SPV to isolate or securitize assets in a separate company that is often kept off the balance sheet. It may be created in order to undertake a risky project while protecting the parent company from the most severe risks of its failure. In other cases, the SPV may be created solely to securitize debt so that investors can be assured of repayment. In any case, the operations of the SPV are limited to the acquisition and financing of specific assets, and the separate company structure serves as a method of isolating the risks of these activities. An SPV may serve as a counterparty for swaps and other credit-sensitive derivative instruments. A company may form the SPV as a limited partnership, a trust, a corporation, or a limited liability corporation , among other options. It may be designed for independent ownership, management, and funding. In any case, SPVs help companies securitize assets, create joint ventures , isolate corporate assets, or perform other financial transactions. In venture capitalism , SPVs are used by a group of investors to pool their assets in order to launch a new business or invest in a startup. SPVs typically make just one investment into a business whereas an investment fund would make multiple investments over a period of time. Financials of an SPV The financials of an SPV may not appear on the parent company's balance sheet as equity or debt. Instead, its assets, liabilities, and equity will be recorded only on its own balance sheet. An investor should always check the financials of any SPV before investing in a company. Remember Enron! Thus, the SPV may mask crucial information from investors, who are not getting a full view of a companys financial situation. Investors need to analyze the balance sheet of the parent company and the SPV before deciding whether to invest in a business. How Enron Used SPVs The massive financial collapse in 2001 of Enron Corp ., a supposedly booming energy company based in Houston, is a prime example of the misuse of an SPV. Enron's stock was rising rapidly, and the company transferred much of the stock to a special purpose vehicle, taking cash or a note in return. The special purpose vehicle then used t

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Home Crypto Education Blockchain Layer-1 And Layer-2 Blockchain Scaling Solutions, Explained Blockchain Layer-1 And Layer-2 Blockchain Scaling Solutions, Explained Last Updated August 22, 2023 2:40 PM By Andrew Kamsky Share on Layer-1 And Layer-2 Blockchain Scaling Solutions| Credit: Shutterstock Key Takeaways Layer-1 scaling solutions involve enhancing the base protocol of the blockchain to accommodate a higher number of transactions per second. Implementing layer-1 solutions often necessitates significant network-wide upgrades or even hard forks, which can lead to community discussions and potential splits in the blockchain. While increasing scalability, layer-1 solutions aim to maintain the core security and consensus mechanisms of the blockchain, ensuring the decentralized nature of the network. Ethereums consensus layer upgrade, incorporating Proof of Stake and shard chains, serves as a prominent example of a layer-1 scaling solution in progress. Due to the complexity of implementing changes at the protocol level, layer-1 solutions generally require longer development cycles and thorough testing before deployment. Layer-2 scaling solutions focus on processing transactions off the main blockchain, aiming to alleviate congestion and reduce transaction fees. The key advantages of layer-2 solutions lie in their ability to offer rapid transaction processing and cost-efficient transactions compared to layer-1 solutions. However, achieving scalability through layer-2 solutions can sometimes involve trade-offs between security and scalability, requiring careful consideration and design. Prominent layer-2 solutions include the Lightning Network for Bitcoin and Plasma for Ethereum, both of which aim to enhance scalability and improve transaction speed. Another interesting aspect of layer-2 solutions is their potential for interoperability, allowing them to function across multiple blockchains and further enhancing the overall scalability of the ecosystem. What Are Blockchain Scaling Solutions? Blockchain scaling solutions are strategies and tactics created to increase the performance and scalability of blockchain networks. They solve the built-in drawbacks of conventional blockchains, such as their inefficient transaction processing, exorbitant fees, and low throughput. With the help of these technologies, blockchain networks should be able to process more transactions per second (TPS) while experiencing less congestion. Layer-1 (L1) scaling, which modifies the underlying blockchain protocol, and layer-2 (L2) scaling, which adds additional frameworks or protocols on top of the base layer to offload transactions and increase scalability, are two examples of common scaling solutions. These solutions strive to maintain the security and decentralization of the underlying technology while improving the performance, scalability, and user experience of blockchains. Sharding, switching to a more effective consensus mechanism like Proof-of-Stake (PoS), or making other architectural changes are examples of L1 solutions. Higher transaction throughput and lower latency are the goals of these changes at the blockchains foundation layer. Layer-2 solutions, like payment channels and sidechains, enable quicker and more scalable transactions while using the security and decentralization of the underlying blockchain. Furthermore, L1 and L2 solutions are implemented to overcome the trilemma, boost scalability, and preserve security and decentralization. The blockchain trilemma exists as a fundamental challenge in blockchain technology. The inherent trade-offs between scalability, security, and decentralization define the trilemma. These trade-offs result from the underlying architecture a

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Search... CTRL K Rootstock Documentation Expand All + Frequently Asked Questions 43' to read Edit Share Twitter LinkedIn Facebook Email Copy link Join the Rootstock Global Discord Community to get the latest updates from the Ecosystem! Frequently Asked Questions RSK, RIF and IOV Orgs Please explain the IOV, RSK, and RIF branding structure. Are RIF and RSK going to become one organization? IOV Labs operates as a purpose driven organization focused on promoting and developing the next generation of open blockchain-based infrastructure that will enable worldwide financial inclusion and bridge the gap between this nascent technology and mass adoption and is the main contributor to the development of RSK and RIF platforms. For more information visit: IOV Labs RSK fundamentals What is RSK? RSK is the first general purpose smart contract platform secured by the Bitcoin Network. What is a smart contract? Smart contracts are contracts whose terms are encoded in computer language instead of legal language. Smart contracts can be executed by a computing network such as RSK, so that the terms of the contracts are automatically enforced by a protocol that all nodes in the network follow. A smart contract can be fully autonomous if all the objects referred (such as currency, payments, obligations, property titles, assets, licenses) have a digital representation in the platform. When there is no such digital representation for an object, a smart contract can also refer to itself and react to changes in its state through special gateway nodes called oracles that provide external information to the blockchain. A smart contract also has access to time with minute precision, so time-restricted conditions can be represented. A few examples of smart contracts are: Micro-lending Distributed voting systems Machine to machine payments Decentralized exchanges Asset tokenization Supply chain tracking Loyalty and rewards Micro-insurance Crowdfunding Property registry Escrow services Transparent public tenders Remittances What is the current state of the project? RSK MainNet network was released in early January 2018. The latest major version is called Wasabi. Live statistics about the entire RSK network is available at RSK Stats . All the necessary source code can be found at RSK GitHub organisation: github.com/rsksmart . All the project information, including a getting started guide, can be found on the RSK & RIF Developer Portal . For latest news and updates, check out RSK Blog . Do you have any plans to add support for smart contract programming languages other than Solidity? RSK currently supports all the opcodes and precompiles contracts of Ethereum, and therefore it can support any language that compiles to the EVM. This includes Solidity, Julia, and new or experimental programming languages such as Vyper. Any progress with Drivechain proposal(s)? The first drivechain proposal was created by us in 2016 and presented to the Bitcoin mailing list for evaluation. See BIP: Drivechain using OP_COUNT_ACKS . Those were turbulent times for the Bitcoin community, as the different subgroups were fighting either to increase the block size or to add SegWit. In that context, it was very difficult to achieve consensus about sidechain integration. Later in 2018, we renewed our efforts with an Improved proposal presented at Building on Bitcoin 2018 . We think that the ecosystem has to mature for trust-minimized Bitcoin sidechains to flourish. Is RSK centralised, federated, or decentralised? The RSK blockchain is highly decentralised. RSK is merge-mined with Bitcoin, and has a hashpower that is second only to Bitcoin. As such, we believe it to be the most secure and censorship resistant smart contract platform; and the second most secure blockchain platform. Refer to RSK Stats for the live value of t

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Bitcoin Stack Exchange is a question and answer site for Bitcoin users, developers, and enthusiasts. It only takes a minute to sign up. Sign up to join this community Anybody can ask a question Anybody can answer The best answers are voted up and rise to the top Teams Q&A for work Connect and share knowledge within a single location that is structured and easy to search. Learn more about Teams How would SPV proofs be verified when moving assets back in 2-way pegged sidechains? Ask Question Asked 7 years, 9 months ago Modified 5 years, 5 months ago Viewed 1k times 10 I've seen similar questions posted all around, but haven't found an answer I can comprehend. Ok, so the process of 2 way pegging is: I move some coins to OP_SPVPROOFVERIFY on the parent blockchain. I wait for some time (e.g. 1 day) I get coins on the sidechain, transact. Now, I want to move some of those coins back to the parent/main blockchain. I send them to a special address on the sidechains, and they are now locked on that chain. ... magic magic Now I can "SPV prove" that the coins are done with on the sidechain and are now free for transacting on the main chain. How does step 6 work? Assumptions Only a subset of the parent chain miners & spv & full nodes are aware this sidechain even exists The sidechain may use completely different proof of work, block format, address scheme (Or rather: what can a sidechain change compared to Bitcoin, and what is fixed?) Under these assumptions, how can a full node running the parent chain recognize that the coins really vanished from the sidechain (of which they are not explicitly aware)? Remember, the parent full node isn't aware of the type of proof of work (if any) that happens on the sidechain, address scheme, really it only knows and speaks the language of Bitcoin, not the sidechain. So how does step 6 work? sidechains Share Improve this q

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/ SPV verification in sidechain 12,600 0.33 (iii) SPV proofs: SPV (Simple Payment Verification) proof is a way to cryptographically prove that the coins are locked on the mainchain for their use on the sidechain . 2023314 Layer 2 Blockchain scaling solutions: Sidechains (Part 16) LinkedIn https://www.linkedin.com pulse layer-2-blockchain-s... LinkedIn https://www.linkedin.com pulse layer-2-blockchain-s... What is SPV verification? What is SPV simplified payment verification? What is the difference between full nodes and SPV nodes? What is a SPV node? SPV proofs and reorg proofs in sidechains Popeller https://popeller.io spv-proofs-in-sidechains Popeller https://popeller.io spv-proofs-in-sidechains 2016830 This first part of the proof is called an " SPV proof", from Simplified Payment Verification as described in the Satoshi whitepaper. This is what... spv - Sidechain communication with mainchain Ethereum Stack Exchange https://ethereum.stackexchange.com sidech... Ethereum Stack Exchange https://ethereum.stackexchange.com sidech... 202053 So far I've seen Simple Payment Verification SPV proofs and federations. ... Quorum with sidechains : Does Quorum work with sidechain blockchains? 1 : A side-chain relies on the security of the nodes participating in the side-chain. So any communication between main-chain and side-chain has to rely ... Bitcoin Q&A: Simplified Payment Verification (SPV) YouTube https://www.youtube.com watch YouTube https://www.youtube.com watch 5:09 What are Simplified Payment Verification ( SPV ) proofs? How are they used in a scenario with sidechains ? Chapters 0:00 What are Simplified... 3 How would SPV proofs be verified when moving assets ... Bitcoin Stack Exchange https://bitcoin.stackexchange.com questions Bitcoin Stack Exchange https://bitcoin.stackexchange.com questions 2016322 I move some coins to OP_SPVPROOFVERIFY on the parent blockchain. I wait for some time (e.g. 1 day); I get coins on the sidechain , transact. Now,... How are the assets locked and unlocked trustlessly ... 1 2015729 spv - Is the contest period really necessary for cross ... 1 2020324 bitcoin.stackexchange.com How would SPV proofs be verified when ... - appsloveworld.com appsloveworld.com https://www.appsloveworld.com bitcoin appsloveworld.com https://www.appsloveworld.com bitcoin The first step is that you send a transaction on the sidechain that locks your money in place. Once that transaction has a few confirmations, you create the SPV ... Sidechains stratisproject/StratisBitcoinFullNode Wiki GitHub https://github.com stratisproject Sidechains GitHub https://github.com stratisproject Sidechains 2021816 What Are SPV Proofs? SPV proof (simplified payment verification proof). According to the sidechain whitepaper, this is a proof that an action... Transferring ledger assets between blockchains via ... G

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/ Drivechain protocol 755,000 0.33 What are Drivechains? Real Vision https://www.realvision.com Blog Posts Real Vision https://www.realvision.com Blog Posts 2022429 A drivechain is an approach that seeks to leverage sidechain technology in order to introduce additional functionality to Bitcoin. What is Drivechain Blockchain? What is the difference between drivechain and sidechain? What is the Bitcoin drivechain proposal? What is a Bitcoin drivetrain? Drivechains: The Future of Bitcoin's Scalability and ... Bitcoin Magazine https://bitcoinmagazine.com Technical Bitcoin Magazine https://bitcoinmagazine.com Technical 20231114 Prominent drivechain proposals ... Bitcoin is a blockchain protocol with various sidechain implementations that are technology top photo. What Is the Drivechain Proposal and Why Is It Dividing ... Bitcoin.com News https://news.bitcoin.com what-is-the-drivec... Bitcoin.com News https://news.bitcoin.com what-is-the-drivec... 202395 Drivechain , a Bitcoin improvement proposal that presents a way of scaling Bitcoin using sidechains, level two blockchains that receive... Drivechains, Sidechains and Hybrid 2-way peg Designs Rootstock.io https://docs.rsk.co Drivechains_Sidechains_an... Rootstock.io https://docs.rsk.co Drivechains_Sidechains_an... PDF WH Custody A 2way peg (2WP) protocol is a protocol that allows transfers of a cryptocurrency from a main blockchain to a second blockchain and viceversa requiring low... 31 Drivechains BitMEX Blog https://blog.bitmex.com drivechains BitMEX Blog https://blog.bitmex.com drivechains 202387 Drivechanis can be broken down into two related component parts, each of which requires a softfork protocol upgrade to Bitcoin: BIP-300... Drivechains: The Silver Bullet for Bitcoin's Scalability ... Securities.io https://www.securities.io drivechains-the-sil... Securities.io https://www.securities.io drivechains-the-sil... 202397 The thing is, most Bitcoin miners' revenue comes from block rewards, which is the amount of new BTC issued by the protocol as a form of subsidy. What is Drivechain? Why is It Essential for Developers? CoinMarketCap https://coinmarketcap.com articles CoinMarketCap https://coinmarketcap.com articles 202392 Drivechain allows Bitcoin users to store Bitcoins and create new tokens using its protocol . ... Some protocols have adopted this ecosystem in the... Drivechain: The Bitcoin Upgrade to End All Altcoins? Crypto Adventure https://cryptoadventure.com Bitcoin Crypto Adventure https://cryptoadventure.com Bitcoin 2023127 Moreover, the protocol works with the lightning network, letting users transact instantly and for free with non-BTC-denominated balances. What Are Bitcoin Drive Chains The Bitcoin Manual https://thebitcoinmanual.com blockchain The Bitcoin Manual https://thebitcoinmanual.com blockchain Drivechain allows Bitcoin to create, delete, send BTC to, and receive BTC fro

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Home learn What is blockchain interoperability: A beginners guide to cross-chain technology What is blockchain interoperability: A beginners guide to cross-chain technology What is blockchain interoperability? Today, blockchains are recognized as a potentially revolutionary technology in many different industries such as supply chain tracking and healthcare, in addition to serving as the foundational technology for cryptocurrencies like Bitcoin ( BTC ). The enormous interest in blockchain technology has sparked various research and development initiatives. As a result, there is a lot of fragmentation in the blockchain industry, and customers can choose from multiple incompatible technologies. Nonetheless, functionalities like transmitting tokens from one participant to another and executing smart contracts can only be carried out within a single blockchain because interoperability between several blockchains is typically not anticipated in existing protocols and standards. Interoperability in the context of blockchains refers to a blockchains capacity to freely exchange data with other blockchains. For example, on a given blockchain , every asset that is owned and every transaction that is made are documented. Whatever economic activity takes place on one blockchain can be represented on another blockchain with the right interoperability solution. This implies that the potential of the economic activity from one chain can spread to another chain, which is one of the main features of blockchain interoperability solutions. The concept of a trustless cryptocurrency exchange, achieved in the form of atomic cross-chain swaps, also known as atomic swaps, is one of the earliest contributions to the field of blockchain interoperability. Using atomic swaps, users of various cryptocurrencies can exchange their assets in a trustless and atomic way. Atomic swaps, however, do not permit the transfer of a token from one blockchain to another in the sense that a specific amount of assets is destroyed on the source blockchain, and the same amount is (re)created on the destination blockchain. Atomic swaps, as its name suggests, allow for token exchanges across blockchain boundaries rather than transfers. This implies that atomic swaps always require a counterparty ready to trade tokens. Online markets provide a back door for exchanging tokens. To date, however, this has required the existence of a reliable, centralized body, which runs opposite to blockchains decentralized nature. As a result, cross-chain technology is rapidly being discussed as the best way to improve interoperability between blockchains. This article will discuss how blockchain interoperability is achieved, followed by the benefits and challenges of blockchain interoperability. What is cross-chain technology? The capacity of a distributed ledger technology (DLT) design to get data from or exchange data with external systems is referred to as interoperability. Cross-chain technology facilitates data interchange among DLT designs or external systems, which aids in achieving interoperability. Such data exchanges can improve the security of DLT designs, boost flexibility, and resolve performance difficulties. Sharding, for instance, can be used to address issues with low throughput and poor scalability. In sharding, a distributed ledger is divided into tiny chunks that may be controlled separately, allowing for parallel transaction processing to boost performance and scalability. Asset transfers, cross-chain oracles, and cross-chain smart contracts are the potential use cases of cross-chain technology. Assets are transferred from one distributed ledger to another during asset transfers. Cross-chain oracles, in contrast, provide data from one distributed ledger to another as opposed to changing assets. For instance, cross-chain oracles can be used to confirm that specific events (s

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The first concept of a sidechain was published in an academic paper on the Oct. 22, 2014, by Adam Back, the inventor of HashCash and current CEO of Blockstream. Also involved were a host of legendary Bitcoin engineers such as Matt Corallo, Luke Dashjr, Blockstream co-founder Mark Friedenbach and more. While many of the papers authors played instrumental roles in developing Satoshi Nakamotos idea of an electronic cash system namely the integration of HashCashs proof-of-work consensus mechanism into Bitcoins blockchain they realized there was still room for improvement if Bitcoin was going to service a global audience. In the sidechain white paper, the authors noted that Bitcoins infrastructure, at the time, faced trade-offs between scalability and decentralization. There were also concerns about Bitcoins privacy and censorship , with new technologies improving Bitcoins cryptographic security deemed necessary if more people were to adopt the bitcoin (BTC) currency. Read more: What Is Cryptography? Taking this into consideration, the authors put forward the following: We propose a new technology, pegged sidechains, which enables bitcoins and other ledger assets to be transferred between multiple blockchains. This gives users access to new and innovative cryptocurrency systems using the assets they already own. What is a sidechain? A sidechain is a separate blockchain network that connects to another blockchain called a parent blockchain or mainnet via a two-way peg. These secondary blockchains have their own consensus protocols allowing a blockchain network to improve its privacy and security, and minimize the additional trust required to maintain a network. A key component of sidechains is their ability to facilitate a smoother asset exchange between the mainnet and the secondary blockchain. This means that digital assets such as tokens can be securely transferred between blockchains allowing projects to expand their ecosystem in a decentralized manner. In practical terms, an individual using the Bitcoin mainnet needs to send bitcoin to an output address. This address could be a hard wallet , a hot wallet or a sidechain. Once the transaction is confirmed, a notice of the completed transaction is broadcasted across Bitcoins network. Following a brief security check, the sent bitcoin is transferred onto the sidechain, allowing users to freely move their assets across the new network. Now, as simple as that may sound there are a few key components that allow sidechains to operate effectively. These components include: A two-way peg Smart contracts Sidechains (CoinDesk) Two-way peg Sidechains were developed to facilitate the transfer of digital assets between blockchains, regardless of who is the holder of the assets. Digital assets should be able to be moved without any counterparty risk meaning that no secondary actor should be able to stop the transfer of the asset from occurring. To facilitate this transfer back and forth between blockchains, a two-way peg is required. You can think of this as a two-way tunnel with cars driving in both directions. According to the sidechain white paper, a two-way peg is defined as: The mechanism by which coins are transferred between sidechains [] a pegged sidechain is a sidechain whose assets can be imported from and returned to other chains. Put plainly, a two-way peg allows digital assets such as bitcoin to be transferred back and forth between the mainnet and the new sidechain. Interestingly, the transfer of a digital asset never occurs. The assets are not actually transferred; instead, they are simply locked on the mainnet while the equivalent amount is unlocked in the sidechain. As a result, any two-pegged operation needs to assume the actors, or validators , involved in the two-way pegged are acting honestly. Otherwise, fraudulent transfers could be made

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/ Bitscale interoperability with BTC two-way-pegging 8 0.34 An Introduction to Sidechains CoinDesk https://www.coindesk.com learn an-introduction-to-si... CoinDesk https://www.coindesk.com learn an-introduction-to-si... 202237 Put plainly, a two - way peg allows digital assets such as bitcoin to be transferred back and forth between the mainnet and the new sidechain. Bitscale | Bitscale What is the difference between one way peg and two way peg? What is two way peg? What is the problem with interoperability in blockchain? Is Bitcoin an interoperability? SoK: Exploring Blockchains Interoperability Cryptology ePrint Archive https://eprint.iacr.org ... Cryptology ePrint Archive https://eprint.iacr.org ... PDF G Wang 2021 35 And a sidechain as a secondary blockchain connects to the main blockchain with a two - way peg [60]. A two - way peg can be considered as a scheme... 27 Bitscale | Bitscale About blockchain interoperability ScienceDirect https://www.sciencedirect.com article pii ScienceDirect https://www.sciencedirect.com article pii PDF P Lafourcade 2020 88 The authors describe a two - way peg in which a sidechain is fed with an SPV proof, a short proof of the transaction allowing for lightweight... Bitscale | Bitscale Blockchain interoperability solutions and challenges Finextra Research https://www.finextra.com latest blogs Finextra Research https://www.finextra.com latest blogs 20231030 This two - way peg acts as an intermediary which locks an asset in one ... BlackRock spot Bitcoin ETF application: a rocky way towards approval. Bitscale | Bitscale What is blockchain interoperability: A beginner's guide to ... Cointelegraph https://cointelegraph.com learn what-is-bl... Cointelegraph https://cointelegraph.com learn what-is-bl... With a mechanism for transferring assets between the main chain and sidechain, sidechains function as a two - way peg . Mimblewimble, BTC Relay, Poa network and... Bitscale | Bitscale CBDC Bridging between Hyperledger Fabric and ... INESC-ID https://www.dpss.inesc-id.pt ~mpc pubs A... INESC-ID https://www.dpss.inesc-id.pt ~mpc pubs A... PDF A Augusto 4 In this paper, we leverage an asset transfer protocol, SATP, to define an extendable and dependable blockchain interoperability middleware that can bridge CBDC... What Is a Bitcoin Bridge? An Introduction to Cross-Chain ... Xverse https://www.xverse.app blog bitcoin-bridge Xverse https://www.xverse.app blog bitcoin-bridge 2023815 The bridging process is reversible; the bridge can burn the minted wBTC tokens and return the native BTC to your Bitcoin wallet. There are two ... Bitscale | Bitscale An overview of blockchain scalability, interoperability and ... EU Blockchain Observatory & Forum https://www.eublockchainforum.eu sites files EU Blockchain Observatory & Forum https://www.eublockchainforum.eu sites files PDF K Qin 38

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Open in app Sign up Sign in Write Sign up Sign in Bitcoin Sidechains Sergio Demian Lerner Follow Published in Innovation Stories 11 min read Feb 25, 2021 -- 4 Listen Share In this post I talk about what is a Bitcoin sidechain and why they have a key role in the cryptocurrency Ecosystem. Lets start by briefly reviewing the history of sidechains. The first attempt to build a sidechain dates back to 2012, much earlier than people think. The first technical paper that fully describes a Bitcoin sidechain was published in 2014 by Blockstreams researchers. However the ideas on that paper were abandoned. In December 2015 RSK published its whitepaper , and began immediately working on the sidechain code based on a hybrid SPV-federated peg, with the potential to be extended to a drivechain, as presented in a BIP . In November 2016, RSK launched its first testnet network (connected to the Bitcoin testnet) and began testing their smart-contract applications with testnet bitcoins. Meanwhile, Blockstream started working on a federated peg, and published their design in January 2017. By 2017 RSK had performed several releases, and testnet resets. In January 2018, RSK finally launched its full-featured mainnet network. RSK native coin is BITCOIN and the RSK codebase does not mention any other token but BITCOIN. With the growth of the RSK ecosystem, many ERC-20 tokens were issued by the community, powering some of the most exciting DeFi applications. In September 2018 Blockstream launched the Liquid Network sidechain. Since then, no other Bitcoin sidechain has been launched to production, although there has been some advancements in drivechains, and a drivechain testnet has been launched. There has been other sidechain-like developments, such as statechains , but no testnet is yet available. Blockchain Bridges Two blockchains can exchange assets using a two-way-peg system, often called bridge. A bridge is a kind of communication protocol across ledgers. There are many kinds of bridges: Powpegs , SPV, hybrid-SPV, federated and collateralized. Each bridge has pros and cons. But not only sidechains build bridges. Many blockchains such as Ethereum, EOS or Polkadot use bridges to bring other coins into their platforms despite having their own native currencies. A federated bridge consists of a set of functionaries that participate in a multi-signature custody of the pegged assets. The Liquid Bitcoin sidechain has a federated peg. There is an RSK/ETH federated peg as well. In a Powpeg , the federation is replaced by a set of pegnatories, each running a special Hardware Security Module (HSM) that protects a private key of the multisig. Each HSM follows the blockchain PoW consensus to receive peg-out commands, therefore preventing pegnatories to have direct access to the pegged funds. RSKs peg with Bitcoin is secured by a Powpeg. In a collateralized bridge, the functionaries (called vaults) have full access to the private keys that control the bitcoins, but they need to deposit a collateral so if they steal the bitcoins in the peg, they are penalized by slashing their deposits. The amount of collateral must be greater than the pegged assets (overcollateralization) to prevent theft. If the collateral value is not enough because of rapid variations on the relative coin prices, an automatic liquidation process occurs. The consequence of this is that the collateral value must be much greater than the value of the whole economy enabled by the pegged asset. Its surprisingly capital inefficient. One example of a collateralized bridge is PolkaBTC , which connects Bitcoin with Polkadot. What it Means to be a Bitcoin Sidechain Informally, a Bitcoin sidechain is an independent blockchain that can securely transfer bitcoins internally and from/to the Bitcoin network without su

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/ Bitscale two-way pegging with BTC 7 0.35 An Introduction to Sidechains CoinDesk https://www.coindesk.com learn an-introduction-to-si... CoinDesk https://www.coindesk.com learn an-introduction-to-si... 202237 Put plainly, a two - way peg allows digital assets such as bitcoin to be transferred back and forth between the mainnet and the new sidechain. Bitscale | Bitscale What is a 2 way transaction of Bitcoin? What is the difference between one way peg and two-way peg? Does Bitcoin have a sidechain? What is an example of a sidechain in Bitcoin? Sidechains, Drivechains, and RSK 2-Way peg Design Rootstock.io https://blog.rootstock.io noticia sidechain... Rootstock.io https://blog.rootstock.io noticia sidechain... Sidechains, Drivechains, and RSK 2- Way peg Design ... A 2- way peg (2WP) allows the transfer of bitcoins from the Bitcoin blockchain to a Secondary blockchain and... Bitscale | Bitscale Introducing A Trustless Two-Way Peg Mechanism for Bitcoin ... YouTube https://www.youtube.com watch YouTube https://www.youtube.com watch 16:33 Explore sBTC and the whitepaper https://stx.is/Explore-sBTC-Whitepaper Listen to Gina Abrams and Stacks Founder Muneeb Ali discussing the... 10 Bitscale | Bitscale Bitcoin Core Developers Weigh in on Side Chain Proposal CoinDesk https://www.coindesk.com markets 2014/04/10 bitc... CoinDesk https://www.coindesk.com markets 2014/04/10 bitc... 2014410 In October, Back had proposed a concept called one- way pegging , in which bitcoins could be 'moved' from the bitcoin block chain to another block... Bitscale | Bitscale Bitcoin Scaling Solutions: Sidechains | Trust Machines Trust Machines An Introduction to Sidechains CoinDesk BitVM Could Enable 2-Way Pegs - The Bitcoin Manual The Bitcoin Manual 6 Bitcoin Sidechains Medium https://medium.com iovlabs-innovation-sto... Medium https://medium.com iovlabs-innovation-sto... 2021225 Two blockchains can exchange assets using a two - way -peg system, often called bridge. ... The two existing Bitcoin remora chains are Veriblock and... Bitscale | Bitscale Ethereum-like Spiderchain Aims to Revolutionize Bitcoin's ... UNLOCK Blockchain https://www.unlock-bc.com Opinions UNLOCK Blockchain https://www.unlock-bc.com Opinions 2023919 The primary challenge facing sidechains has always been the creation of a 2- way peg mechanism, allowing BTC to move securely between the main... Bitscale | Bitscale Sidechain - Bitcoin Wiki bitcoin.it https://en.bitcoin.it wiki Sidechain bitcoin.it https://en.bitcoin.it wiki Sidechain 202248 A sidechain or pegged sidechain enables bitcoins and other ledger assets to be transferred between multiple blockchains. Bitscale | Bitscale

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Sidechain From Bitcoin Wiki Jump to: navigation , search A sidechain or pegged sidechain enables bitcoins and other ledger assets to be transferred between multiple blockchains. This gives users access to new and innovative cryptocurrency systems using the assets they already own. By reusing Bitcoin's currency, these systems can more easily interoperate with each other and with Bitcoin, avoiding the liquidity shortages and market fluctuations associated with new currencies. Since sidechains are separate systems, technical and economic innovation is not hindered. Despite bidirectional transferability between Bitcoin and pegged sidechains, they are isolated: in the case of a cryptographic break (or malicious design) in a sidechain, the damage is entirely confined to the sidechain itself. Discussion A sidechain is a mechanism that allows you to move your bitcoins to another, completely independent blockchain, trade them there, and they can then be moved back to main bitcoin blockchain I will try to explain how it should work: You may have already encountered the idea of a one-way peg. This means that you destroy some BTC, and you gain some other currency for doing that. Example: when Counterparty started, people could burn some of their BTC by sending them to an unspendable address, and for doing it, they received newly created XCP tokens. This is called a one-way peg, and it cannot be reversed. You can only move the money one way, you cannot turn it back to BTC later. Sidechains extends this idea, and creates a two-way peg, that lets you move it back and forth. Instead of destroying BTC by making them unspendable, you lock them in little boxes. These boxes do not belong to any address, they are instead controlled by a bitcoin script. For each box you lock this way, you get newly created tokens on the sidechain (which is another blockchain, complete separate network). You can then give these tokens to someone, pay with them, and when he wants to bring them back to the Bitcoin blockchain, he can just destroy the tokens in the same way. Providing a cryptographic proof that he destroyed the tokens will allow him to open a locked box and collect the Bitcoin. So the value is pegged, because you can freely turn one into the other at any time. The purpose of this trick is to allow people to safely experiment with different rules, networks and consensus mechanisms, that may be suitable for different purposes, without putting the main Bitcoin network at risk. In other words, it creates an area where you can bring some of the BTC you have, try some crazy experimental stuff, and then bring them back. [1] External links https://blockstream.com/sidechains.pdf References https://www.reddit.com/r/Bitcoin/comments/32w9he/eli5_how_do_sidechains_work/cqfb0te/ Retrieved from " https://en.bitcoin.it/w/index.php?title=Sidechain&oldid=69275 " Categories : Technical Scalability Privacy Navigation menu Personal tools Create account Log in Namespaces Page Discussion Variants Views Read View source View history More Search Navigation Main page Bitcoin FAQ Editing help Forums Chatrooms Recent changes Page index Tools What links here Related changes Special pages Printable version Permanent link Page information Sister projects Essays Source This page was last edited on 8 April 2022, at 16:56. Content is available under Creative Commons Attribution 3.0 unless otherwise noted. Privacy policy About Bitcoin Wiki Disclaimers

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New: Wallet recovery made easy with Ledger Recover, provided by Coincover Get started Up your Web3 game Ledger Academy Quests Test your knowledge Earn POK NFTs Play now See all quests What Is a Sidechain? By Lipsa Das Apr 19, 2023 | Updated May 29, 2023 Read 6 min Beginner SHARE KEY TAKEAWAYS: The more popular a blockchain becomes, the harder they are to scale. A sidechain is a scalability solution that reduces congestion on the parent blockchain. A sidechain is a separate blockchain connected to the main blockchain through a two-way bridge. This allows you to transfer assets between them. Popular sidechains include Polygon for Ethereum and Rootstock for Bitcoin. What do you do when youre stuck in traffic along a highway? You wish there was a way to escape it, right? And if theres a side street or a service road you could take to beat the traffic. Things become much easier. Major blockchains like Bitcoin and Ethereum are much like highways they tend to become congested and slow down when theres a lot of traffic. Sidechains, much like service roads, run alongside the main highway (the parent blockchain ) and give you a different route one that doesnt involve sitting in traffic for hours. Therefore, sidechains essentially help in blockchain scaling. In this article, Ledger Academy will unpack what is a sidechain, how it works, and the major sidechain implementations. This article will also compare sidechains vs. Layer 2 solutions to help you understand the key differences and similarities between the two. Lets get started. What Is a Sidechain? Sidechains are independent blockchains that connect to their parent chains via a two-way bridge. This bridge allows the transfer of assets between the two. These sidechains have some sovereignty, as they operate using their own consensus mechanism. This means even if the sidechain has a security breach, the mainnet will remain secure.The primary purpose of the sidechain is simple tohelp scale the parent blockchain. Although that can sound a lot like Layer 2 blockchains , sidechains have some fundamental differences. Sidechain Use Cases: Why We Need Them Sidechains directly contribute to improving the efficiency of the mainnet. Heres why sidec

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Home Internet technologies By Rahul Awati Ivy Wigmore What is a pegged cryptocurrency? A pegged cryptocurrency is a cryptocurrency whose value is linked to a specific bank-issued currency, financial instrument or tradable commodity. Since the bank-issued currency -- U.S. dollar (USD), British pound (GBP), euro (EUR), etc. -- is fiat currency , a pegged cryptocurrency is also known as a fiat-pegged cryptocurrency . Regardless of which fiat currency or commodity it is linked to, the pegged cryptocurrency is an encryption -secured digital medium of exchange. The link or peg is determined by the exchange rate between the two currencies. Once this exchange rate is established -- usually, one to one -- the value of the cryptocurrency fluctuates in the same direction and to the same degree as the fiat currency to which it is pegged. More about pegged cryptocurrencies Pegging refers to linking the market value of a cryptocurrency to an external reference, which can be a fiat currency or a commodity. The pegged price of the cryptocurrency refers to the price it attempts to attain to minimize volatility. In reality, trades can happen at any price called the market price , which may be different from the pegged price. However, the ultimate aim of pegging is to ensure that the pegged price and market price are as closely aligned as possible. Most pegged cryptocurrencies are pegged to USD because it is the dominant currency in the global financial sector, as well as one of the most stable fiat currencies in the world. Cryptocurrencies can also be pegged to commodities like gold or to currencies other than USD. For example, the Digix cryptocurrency is pegged to gold with the value of one DGX token equivalent to the value of one gram of gold. Most pegged cryptocurrencies are pegged to the U.S. dollar (USD), which is a dominant currency and one of the most stable fiat currencies. Pegging the cryptocurrency to a fiat currency or commodity helps stabilize it by holding its value fairly steady. Such steadiness is essential if the cryptocurrency is to serve as a medium of exchange for real-world transactions , like purchases or payments. Pegged cryptocurrencies don't soar in value , so they don't usually make their holders rich. However, their stability assures those who spend the cryptocurrency (e.g., shoppers) and those who accept the cryptocurrency (e.g., merchants) that it will retain its short-term purchasing power and protect them from volatility-induced losses. Pegged cryptocurrencies and volatility All unpegged cryptocurrencies are notoriously volatile due to factors like the following: marketplace perceptions of risk supply and demand investor sentiment media reports government regulations Due to volatility, the price of cryptocurrencies fluctuates, often falling or rising by thousands of dollars -- or other fiat currencies -- in a matter of days. Pegging a cryptocurrency to a more stable fiat currency or asset can protect it from extreme levels of volatility . This helps minimize rapid and/or significant changes in value that could negatively impact anyone holding or trading in the currency. Cryptocurrencies are a type of virtual asset. Pegged cryptocurrencies and stablecoins A pegged cryptocurrency is a type of stablecoin . Stablecoins combine the benefits of cryptocurrencies and fiat currencies. Like cryptocurrencies, they offer fast transactions, secure payments and user privacy . And, like fiat currencies, stablecoins offer v

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The first concept of a sidechain was published in an academic paper on the Oct. 22, 2014, by Adam Back, the inventor of HashCash and current CEO of Blockstream. Also involved were a host of legendary Bitcoin engineers such as Matt Corallo, Luke Dashjr, Blockstream co-founder Mark Friedenbach and more. While many of the papers authors played instrumental roles in developing Satoshi Nakamotos idea of an electronic cash system namely the integration of HashCashs proof-of-work consensus mechanism into Bitcoins blockchain they realized there was still room for improvement if Bitcoin was going to service a global audience. In the sidechain white paper, the authors noted that Bitcoins infrastructure, at the time, faced trade-offs between scalability and decentralization. There were also concerns about Bitcoins privacy and censorship , with new technologies improving Bitcoins cryptographic security deemed necessary if more people were to adopt the bitcoin (BTC) currency. Read more: What Is Cryptography? Taking this into consideration, the authors put forward the following: We propose a new technology, pegged sidechains, which enables bitcoins and other ledger assets to be transferred between multiple blockchains. This gives users access to new and innovative cryptocurrency systems using the assets they already own. What is a sidechain? A sidechain is a separate blockchain network that connects to another blockchain called a parent blockchain or mainnet via a two-way peg. These secondary blockchains have their own consensus protocols allowing a blockchain network to improve its privacy and security, and minimize the additional trust required to maintain a network. A key component of sidechains is their ability to facilitate a smoother asset exchange between the mainnet and the secondary blockchain. This means that digital assets such as tokens can be securely transferred between blockchains allowing projects to expand their ecosystem in a decentralized manner. In practical terms, an individual using the Bitcoin mainnet needs to send bitcoin to an output address. This address could be a hard wallet , a hot wallet or a sidechain. Once the transaction is confirmed, a notice of the completed transaction is broadcasted across Bitcoins network. Following a brief security check, the sent bitcoin is transferred onto the sidechain, allowing users to freely move their assets across the new network. Now, as simple as that may sound there are a few key components that allow sidechains to operate effectively. These components include: A two-way peg Smart contracts Sidechains (CoinDesk) Two-way peg Sidechains were developed to facilitate the transfer of digital assets between blockchains, regardless of who is the holder of the assets. Digital assets should be able to be moved without any counterparty risk meaning that no secondary actor should be able to stop the transfer of the asset from occurring. To facilitate this transfer back and forth between blockchains, a two-way peg is required. You can think of this as a two-way tunnel with cars driving in both directions. According to the sidechain white paper, a two-way peg is defined as: The mechanism by which coins are transferred between sidechains [] a pegged sidechain is a sidechain whose assets can be imported from and returned to other chains. Put plainly, a two-way peg allows digital assets such as bitcoin to be transferred back and forth between the mainnet and the new sidechain. Interestingly, the transfer of a digital asset never occurs. The assets are not actually transferred; instead, they are simply locked on the mainnet while the equivalent amount is unlocked in the sidechain. As a result, any two-pegged operation needs to assume the actors, or validators , involved in the two-way pegged are acting honestly. Otherwise, fraudulent transfers could be made

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MAP Protocol AvatarDAO 2023-03-16 20:12 Layer 1 Layer 1 SolanaPolkadotNearCosmosAptosSui Layer 1 L1 ETH dApp TCP/IP Web3 1. Web3 TPS L1 2. L1 1 A r , r m=hash m B A B 1 BTC B r B A A 10 ETH A r A B r B B 10 ETHr B A r A A 1 BTC m r A B B A 2 2022 20 MPC MultichainCelerAxelar MPC 3 Chainlink Oracle receipt Relayer blockhash blockreceiptsRoot Relayer receipt Oracle receiptsRoot receipt receipt Relayer Oracle Relayer Oracle LayerZero 4 4.1 light client A SOL B ETH SPV Mekre B B A SPV 4.2 Two-Way-Pegging Relayer MAP ProtocolMAP Protocol 4.3 Polkadot Cosmos Aurora 4.4 n(n-1)/2 nn 4.5 Relayers Relayers Relayer Relayer Relayer 4.6 4.7 - layer0 layer1layer2 dApp dApp Web3 L2 4.8 Polkdot Cosmos Polkadot Cosmos Hub Cosmos IB XCMP Polkadot Cosmos Hub Polkadot SubstrateCosmos Cosmos SDK SDK BNBKlaytnPolygonAvax SDK L1 Polkadot Cosmos Hub Polkadot L1 dApp Polkadot Cosmos L1 dApp L1 L1 dApp L1 Polkadot Cosmos (light client) dApp BNB dApp Polkadot Cosmos MAP Protocol MAP Protocol Relay Chain MAP Protocol MAP Protocol Relay Chain L1 hash Ethereum/Polygon/BNB Smart Chain/Klaytn/NEAR EVM Non-EVM MAP Protocol Relay Chain L1 Relay Chain L1 Relay Chain 1. Protocol Layer- MAP Replay Chain Maintainer MAP Relay Chain L1 hash Merkle Tree MAP Relay Chain MAP Relay Chain MAP Relay Chain L1 Maintainer Validator Validator 2.MOS MAP Omnichain as a Service Layer Google Mobile Service dApp Messenger CertiK dApp 3. Omnichain Application Layer MAP Replay Chain MAP Protocol DID Swap GameFi DAO NFT dApp L1 MAP Protocol 4zk Merkle Merkle zkSNARK PoSPoW zkSNARK zkSNARK 1 A B 9 A -> -> -> -> -> -> -> -> MAP Protocol A 2 Swap Swap DeFi DeFi MAP Protocol SWAP DEX AMMs ETH NEAR Near MAP Protocol Butter Swap 3 GameFi MAP ProtocolGameFi BNB Chain GameFi Polygon WAX Polygon BSC WAX GameFi MAPO Relay Chain MAPO Relay Chain GameFi MAPO Relay Chain EVM EVM MAPO Relay Chain GameFi 4 MAPP Protocol MAPO 5 Aave ETH Polygon FxPortal Polygon Aave Aave EVM Polygon Arbitrum Aave Aave AIP DeFi MAP EVM 6 NFT NFT MPC MAPO MOS NFT 1 CosmosPolkadot Aurora MAP Relay Chain L1 NEAR Rainbow BridgePolkadotCosmos IBC MAP Protocol 100% 100% light-client PolkadotCosmos IBC NEAR Rainbow Bridge Polkadot Cosmos IBC BNB ChainPolygon Rainbow Bridge AuroraNEAR EVM 2100% MaintainerMessenger Messenger Maintainer 100% LayerZero 3 MAP Replay Chain 4 EVM EVM Hash EVM EVM 5 DApps (light client) sdk SDK dAPP 6 Relayer (ZK) + (light client) gas fee MAP Protocol 2019 10.6 100 15% 21% Ecosystem DAO 12% MAP Protocol 22% 30% $22,342,490 2,228,621,190 22.3% $101,348,762 21 10 8 1Flow Bohao Tang MAP Protocol Flow EVM non-EVM Flow 2 MAP Protocol dApp MAP Protocol EVM EVM AxelarCeler MAP Protocol Polkadot Cosmos MAP Protocol SDK MAP Protocol dApps MAP Relay Chain https://files.mapprotocol.io/pdf/mapprotocol_Litebook_cn.pdf https://www.panewslab.com/zh/articledetails/D62579631.html https://foresightnews.pro/article/h5Detail/19308 https://view.inews.qq.com/k/20230206A02IC400?web_channel=wap&openApp=false AvatarD

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/ 2WP BECbtsBEC2WP PoWProof of spacePOS secoins secoins BlockstreamSPVPOW OP_RETURNCounterparty SPVheader coinbase RSK RSK / /coinbase +/90% + OP_CHECK_VOTES_MULTISIG_VERIFY http:// media.rsk.co/sidechains -drivechains-and-rsk-2-way-peg-design/?winzoom=1 rskmedia 201645 20161223 .................................................................................................................................................. HSL13116885 2017-11-15 08:28 (Bitcoin) 9 3

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A 2-way peg (2WP) allows the transfer of bitcoins from the Bitcoin blockchain to a Secondary blockchain and vice-versa. The transfer is in fact an illusion: bitcoins are not transferred, but temporarily locked on the Bitcoin blockchain while the same amount of equivalent tokens are unlocked in a secondary blockchain. The original bitcoins can be unlocked when the equivalent amount of tokens on the second blockchain are locked again (in the secondary blockchain). This is essentially the 2WP promise. The problem with this promise is that can only be theoretically realized if the secondary blockchain has settlement finality. Therefore any 2WP system must do compromises and rely on assumptions about the honesty of the actors involved in the 2WP. The most important assumptions are that the primary blockchain is censorship resistant and that the majority of Bitcoin miners are honest. Another required assumption may be that the majority of third parties that will hold custody of locked bitcoins is also honest. If these assumptions do not hold, then bitcoins and their equivalent secondary blockchain tokens could be both unlocked at the same time, thus allowing a malicious double-spend. Any 2WP system must choose an implementation so that the parties being assumed to behave honestly have economic and legal incentives to do so. This involves analysing the of cost of an attack by these critical parties and consequences of an attack. The security of a 2WP implementation depends on the incentives to enforce the 2WP promise by the critical parties taking part of the 2WP system. A Bonded Escrow Contract (BEC) is a method proposed by bitshares and then adopted by other platforms to allow Bitcoins (or fiat currencies) to be traded on a smart payment platform having a different native token. To allow it, a set of issuers lock bonds in the native currency of an amount equivalent or generally higher than the amount of bitcoins they create, then they create IOUs and sell them on the platform. The bond amounts are dynamically adjusted using the price of the btc by querying platform oracles. Clearly, this is not a 2WP by definition because new bitcoins are created, and there are no equivalent bitcoins locked on the Bitcoin blockchain. The security model of the BEC is generally weaker than of a 2WP, since users must trust the oracles which may not have high incentives to stay honest. Also there is little or no economic incentive for the market makers to hold such huge bonds in a highly volatile native token. Any 2WP is just a voting system When the secondary chain does not have settlement finality, we can simplify the security model of any 2WP by showing that any 2WP system is equivalent to having a group of custodians cast votes on when to unlock bitcoins and where to send the unlocked bitcoins to. The votes can be cast by digital signatures, hashing power (PoW), memory space (Proof-of-space), or cryptocurrency holdings (Proof-of-Stake), or whatever consensus system the blockchains have. We can change the weight of each party vote, the number of parties that vote, the conditions in which a party is allowed to vote, allowing or not voting for more than one candidate, and so on, but we cannot change that the system is essentially a poll. Well present the most common 2WP designs: sidechain, drivechain and multi-sig custody and hybrid designs. To simplify the explanations, well call secoins to the bitcoins that have been transferred to the secondary blockchain. One possible option to implement the 2WP is having an exchange holding custody of the locked bitcoins and holding custody of unlocked equivalent tokens. The exchange would manually enforce the promise of locking bitcoins before unlocking secondary tokens either manually or by means of a protocol executed in software. This setup is depicted here: A better way to implement a 2WP is having an group of notaries control of a multi-signature, where the majority of them has to approve the unlock of fun

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2023 2023-12-18 09:54 2024 Thesis GameFi DeFi NFT ETF 2024 DeFi Taproot Assets BitVM 2023 2023 Token 2024 2023 1 0.01 BTC 0.1 BTC 2 100 3 4 2023 2023 TCP/IP Stacks RSK 1 ZK Rollups Sovereign Starkware zk rollup 2 zk rollups zk rollups Sats L2 zk rollups Stacks RootstockRSK 1RSK RootstockRSK BTC RSK RSK 51% RSK RSK RSK 2 Stacks 2023 Stacks Stacks Stacks TokenSTX 2023 STX 50% 280% Stacks 2.1 Stacks 1,100 30% 20% STX DeFi Token BNS 30 2023 Stacks 2023 LN 5400 BTC 2.3 2018 8 1 BTC BlueWalletMuun Phoenix 70 LN LN 2023 10 1 11 Taproot v0.2 LN LN Token RPC 2Nostr P2P 9 Nostr NIP-57Zap Zap 2023 Zap 5 3 2023 LN Stripe Twitter Zebedee LN LN LN 3 Miniscript RGB 4 90% Anyons Ordinals Casey Rodarmor 2023 1 21 2021 Taproot 4MB NFT Yuga Labs NFT 1100 2023 7.25 NFT 2021 9 42 8.7% 2023 10 38 4507.45 2023 11 12 505345 1 Taproot 35kb 2,100,000,000,000,000 NFT 2 Xverse Web3 Gamma 30 NFT Hiro NFT Gamma OrdinalsBot MetaMask Taproot Generative Marketplace OKX Taproot BRC20-S 3 Ordinals Ordinals OKXUniswapMagic Eden Gamma Dune Analytics Bitcoin Ordinals 794,330,265 2023 1,173,402 253,379 OKX Ordinals Wallet 100 4. SegWit Taproot 2017 SegWit Ordinals 2021 Taproot 4MB 5Ordinals Protocol NFT NFT Ordinals Protocol Taproot Ordinals Taproot 6Ordinals Protocol Ordinals Satoshi Ordinals Ordinals 7 Ordinals Ordinals cursed ordinals satoshi ordinals ordinals 8 4MB DeFi Solidity 9 Taproot WizardsORD Rocks Bitcoin Punks TwelveFold OpenOrdex PSBT OpenOrdexGamma Ordinals.com / IDsatoshi OrdinalsBotOrdSwapGammaBitcoin Bandits Luxor Mining satoshi Sparrow Electrum Xverse UTXO OrdinalHub Ordinal Directory Taproot Taproot Alpha Taproot Token UTXO Taproot Taproot BRC-20 1Taproot TAP Taproot Taproot BRC-20 BRC-20 Token Taproot Token Taproot MS-SMT Taptweak outpoint 32 ID UTXO Taproot Taproot TokenTaproot BRC-20 30 Taproot LN LN LN Taproot ; Taproot satoshis L-USD Taproot BTC L-USD BTC LN Taproot LN BTC Taproot BTC Taproot 2Token Taproot Token Taproot Token Taproot Taproot TAPTaproot UTXO Taproot UTXO Taproot 3Taproot Taproot Taproot 65,000 BRC-20Token Taproot TAP Taproot RC-20 BRC-20 Token JSON Token Token 1RC-20 ORDIToken 14 9.9 3.79 62% Token BRC-20 80% BRC-20Token BRC-20Token 2023 5 7 2023 9 10 2023 11 BRC-20Token 492000 Token Taproot 4MB DeFi DeFi Web3 2 Bitrefill 2023 Pay Bill OpenBazaar 2023 OpenBazaar 3.0 River Financial Swan Bitcoin Strike Zebedee 2023 No Big DealNBD 3 Wasabi WalletWasabi Samourai WalletSamourai Fold Fold 25 Fold 2 Fold 650 Fold Fold Fold DeFi Babylon Cosmos Babylon Babylon EOTS Babylon Avalanche BTC.b BTC.b Avalanche ERC-20Token Avalanche C Avalanche Avalanche C 2023 12 4 BTC.b 1.524 1wBTC wBTC ERC-20Token wBTC BTC wBTC wBTC wBTC 1 1 wBTCToken wBTC wBTCToken 2023 12 4 wBTC 67 24 2.39 2023 10 24 11 9 2Threshold tBTC

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Amazon Managed Blockchain AWS AWS (Bitcoin) Singapore Exchange Limited Sony Music Entertainment Japan Amazon Amazon John Jill John Jill Jill John John Jill 1 2 3 4 (Ethereum) (Litecoin) Ripple (Global Shipping Business Network Consortium) Hyperledger Fabric Hyperledger Fabric (Ethereum Enterprise) Corda Corda Corda Corda Quorum Quorum 1970 Ralph Merkle Merkle 1990 Stuart Haber W. Scott Stornetta Merkle

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Open in app Sign up Sign in Write Sign up Sign in 3.0 Zhaojun Follow 9 min read Jun 17, 2018 -- Share 1.02.0 1Notary schemes 2/Sidechains/relays 3Hash-locking 4Distributed private key control BTC Relay PolkadotCosmos FUSION Interledger 2012 InterledgerInterledger Interledger 2. BTC Relay BTC Relay BTC Relay BTC Relay 3. PolkadotCOSMOS Polkadot Polkadot Polkadot// PolkadotPolkadotrelay-chainPolkadotPolkadot Polkadot COSMOS Cosmostendermint Cosmos Tendermint CosmosCosmos Hub Cosmos Hub Cosmos IBCUDPTCP Cosmos CosmosCosmos BitcoindGo-EthereumZCashCosmosCosmos 4. Lighting network Lightning network bitcoin HTLC AliceBobAlice0.1 BTCTTBobAliceRRH(R)Bob0.1 BTCTBobR0.1 BTCAlice 5. WanChain WanChain ,,,, FUSION FUSION Lock-inLock-out FUSIONCalling listFUSION FUISONFUSIONFUSION 2.0 Blockchain Bitcoin Ethereum Crosschain Fusion Follow Written by Zhaojun 19 Followers Co-founder @multichainorg Follow Help Status About Careers Blog Privacy Terms Text to speech Teams

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Open in app Sign up Sign in Write Sign up Sign in Blockchain Interoperability Moving Assets Across Chains Stefan Beyer Follow Published in Cryptonics 9 min read Nov 5, 2018 -- 1 Listen Share Since Bitcoin emerged as the worlds first peer-to-peer currency, it has become common practice to represent assets on blockchains. Assets may be protocol-level cryptocurrencies, such as Bitcoin and Ether or they may be implemented in smart contracts, in the form of fungible or non-fungible tokens. In any case, there is now a very large eco-system of decentralized assets, represented on a number of different blockchains. Making these blockchains work with each other in a way that allows trading or moving assets between different chains is a challenge, mainly because blockchains are designed to be self-contained ecosystems. Breaching the boundaries this ecosystem introduces risks related to trust and security. Therefore, any blockchain interoperability solution has to be designed carefully. When dealing with assets on different blockchains, there are two main interoperability scenarios: trading an asset on one chain for another asset on another chain or representing an asset on several chains and moving instances from one chain to another. These two cases are different in nature and need to be implemented differently. Lets look at the easier case of trading one asset for another first, before discussing strategies for moving assets across chains. Trading Assets on Separate Chains Atomic Swaps Atomic swaps Lets assume Bob wants to make a trade with Alice, buying 10 Ether with 1 Bitcoin. Of course, this is currently a bad deal for Bob, but lets forget about exchanges rates for a moment and use these numbers for simplicity. Bob and Alice could use a trusted third party to do this trade, for example a centralized cryptocurrency exchange. However, in the true spirit of decentralization, Bob and Alice do not wish to use a middleman and prefer to rely on the built-in trust of the two blockchain protocols involved. The desired property of the asset swap is atomicity. This means that either both transfer operations happen, or none at all. One of the parties receiving the asset without also transferring the counter value is not an option. The resulting operation is, therefore, called an atomic swap . Hash-locks There is a simple strategy that Bob and Alice can use to perform their atomic swap without trusting each other and without relying on a trusted third party. They can use hash-locks on both chains to perform the two transfer operations atomically. This works as follows: Alice sends Bob 10 Ether through a smart contract. However, the contract is locked with a secret that needs to compute to a hash visible in the contract. Note, that hash functions are one-way functions, so the transaction can only be unlocked by providing the secret only known to Alice at this stage. Bob now uses the same hash as a lock on a Bitcoin transaction to Alice. He does not know the secret yet, but he knows its hash value. Once Alice sees that Bob has locked the correct amount of Bitcoin with the same hash, she can unlock the Bitcoin transaction by supplying the original secret that computes to the required hash. By doing though, she not only releases the funds but at the same time publishes the secret on the blockchain. Bob, who has now learned the secret, uses it to unlock the Ethereum transaction directed to him. Timeouts But what would happen if Alice never unlocked the Bitcoin transaction? Well, both transactions would remain stuck forever. Therefore, atomic swaps require a timeout. If the transaction is not completed by providing a secret within a time t , the funds should be refunded. In our case, Alice creates the first transaction and creates the secret. Consider the case of the tim

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Open in app Sign up Sign in Write Sign up Sign in Enhancing Crypto Asset Management through Cross-Chain Interoperability aarn Follow 3 min read Aug 2 -- Listen Share Introduction Unlocking the full potential of blockchain technology and Web3 requires addressing the challenge of their siloed nature. While decentralized applications (DApps) on a specific blockchain are easily accessible, communication and interaction across different blockchains remain complex. This leads to liquidity fragmentation for users and unnecessary resource expenditure for developers working on multiple chains. In this blog post, we will explore the significance of cross-chain interoperability and its transformative impact on the blockchain industry. Understanding Cross-Chain Interoperability To grasp the concept of cross-chain interoperability, it is essential to first comprehend why two blockchains struggle to communicate. A blockchain operates as a shared ledger that securely records all user transactions in an immutable manner. For two distinct blockchains to share information, they must agree on a unified state and maintain an immutable record of subsequent transactions from the other blockchain. This process necessitates extensive data exchange and storage, presenting scalability challenges. Cross-chain interoperability addresses this issue by facilitating the exchange of data and value between different blockchains. It acts as a bridge, eliminating the need for intermediaries such as centralized exchanges (CEX) when interacting with decentralized finance (DeFi) applications. Approaches to Achieving Interoperability There are several methods employed to achieve interoperability between blockchains: Interoperability protocols: These protocols are specifically designed to enable communication and value transfer between different blockchains. Prominent examples include Polkadot, Cosmos, and Aion. Sidechains: Sidechains are separate blockchains connected to a main blockchain, allowing transactions to occur on a separate chain while still utilizing the same asset. Notable examples include RSK, a sidechain of Bitcoin, and Plasma, a sidechain of Ethereum. Atomic Swaps: This technique facilitates the direct exchange of one cryptocurrency for another without requiring intermediaries, thus enabling cross-chain trades. The Lightning Network, utilized for atomic swaps on Bitcoin, is a well-known example. Cross-Chain Bridges: These bridges are constructed to connect disparate blockchains and facilitate the transfer of assets and data between them. Notably, Uniswap leveraged Wormhole for cross-chain governance messaging between Ethereum and Binance Smart Chain. Benefits of Cross-Chain Interoperability Currently, the total value locked(TVL) in the DeFi ecosystem stands at $40.24 billion, with Ethereum accounting for nearly 56% of it. However, users of non-Ethereum blockchains, such as Polygon and Avalanche, face barriers to participation due to the lack of blockchain interoperability. Each DeFi ecosystem operates as an isolated economy, hindering mass scalability. By embracing cross-chain interoperability, the adoption of DeFi can be accelerated. Enabling users to access DeFi protocols across different blockchain networks creates additional value and incentivizes their engagement. This enhanced accessibility attracts more users to Web3 and DeFi, resulting in increased liquidity flowing into the DeFi ecosystem. Consequently, lending, staking, yield farming, and borrowing operations can be conducted on a larger scale. Moreover, cross-chain interoperability empowers users to overcome limitations imposed by individual blockchains. They are no longer confined by Ethereums high gas fees or other networks limited liquidity and smaller user bases. Developers can also create essential building blocks that facilitate th

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/ How to achieve asset interoperability between Bitscale and BTC 7 0.37 Blockchain Interoperability Moving Assets Across Chains Medium https://medium.com cryptronics blockcha... Medium https://medium.com cryptronics blockcha... 2018115 Since Bitcoin emerged as the world's first peer-to-peer currency, it has become common practice to represent assets on blockchains. Bitscale | Bitscale How do you get blockchain interoperability? What is cross-chain interoperability? What are the interoperability and scalability issues of blockchain? How do we ensure all the copies of blockchain are the same? Blockchain interoperability and how it works? (Part 24) LinkedIn https://www.linkedin.com pulse blockcha... LinkedIn https://www.linkedin.com pulse blockcha... 2023323 It facilitates communication between two Blockchain networks by facilitating the transfer of data or digital assets . How do cross-chain bridges... Bitscale | Bitscale Enhancing Crypto Asset Management through Cross- ... Medium https://medium.com enhancing-crypto-asse... Medium https://medium.com enhancing-crypto-asse... 202382 Approaches to Achieving Interoperability . There are several methods employed to achieve interoperability between blockchains: Interoperability ... Bitscale | Bitscale Bringing interoperability to blockchain to create frictionless ... LinkedIn https://www.linkedin.com pulse bringing... LinkedIn https://www.linkedin.com pulse bringing... 2023717 The first use case will involve the transfer of tokenised assets between two wallets on the same public blockchain network (Ethereum Sepolia... Bitscale | Bitscale How Interoperability Can Improve Crypto Payments NASDAQ https://www.nasdaq.com articles how-inte... NASDAQ https://www.nasdaq.com articles how-inte... 2023525 This technology utilizes smart contracts to ensure the secure and trustless exchange of assets between compatible blockchains. Bitscale | Bitscale What is Token Wrapping? | Blockchain Basics Elliptic https://www.elliptic.co blockchain-basics Elliptic https://www.elliptic.co blockchain-basics 2022131 This interoperability allows assets to easily and ideally cheaply move from ... ensure the 1 BTC to 1 WBTC peg is held. As such, they share... Bitscale | Bitscale Digital asset networks need to be 'interoperable,' ... Blockworks https://blockworks.co news digital-asset-n... Blockworks https://blockworks.co news digital-asset-n... 2023626 The latest paper from the Monetary Authority of Singapore looks into three models: private and permissioned, permissionless, and public and... Bitscale | Bitscale A Brief History of Cross-Chain: From Asset Bridge to ... Medium Bringing interoperability to blockchain to create ... LinkedIn Blockchain Interoperability Moving Assets Across Chains ... Medium

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Skip to main content Data is currently not available Search Nasdaq Clear Search Data is currently not available No Results Found Top Searches Trending Symbols Trending Articles Recently Viewed Symbols Nasdaq Listed Nasdaq 100 Data is currently not available Cryptocurrencies How Interoperability Can Improve Crypto Payments Contributor Anthony Clarke Published May 25, 2023 1:40PM EDT Credit: Nuthawut / stock.adobe.com

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Home learn What is blockchain interoperability: A beginners guide to cross-chain technology What is blockchain interoperability: A beginners guide to cross-chain technology What is blockchain interoperability? Today, blockchains are recognized as a potentially revolutionary technology in many different industries such as supply chain tracking and healthcare, in addition to serving as the foundational technology for cryptocurrencies like Bitcoin ( BTC ). The enormous interest in blockchain technology has sparked various research and development initiatives. As a result, there is a lot of fragmentation in the blockchain industry, and customers can choose from multiple incompatible technologies. Nonetheless, functionalities like transmitting tokens from one participant to another and executing smart contracts can only be carried out within a single blockchain because interoperability between several blockchains is typically not anticipated in existing protocols and standards. Interoperability in the context of blockchains refers to a blockchains capacity to freely exchange data with other blockchains. For example, on a given blockchain , every asset that is owned and every transaction that is made are documented. Whatever economic activity takes place on one blockchain can be represented on another blockchain with the right interoperability solution. This implies that the potential of the economic activity from one chain can spread to another chain, which is one of the main features of blockchain interoperability solutions. The concept of a trustless cryptocurrency exchange, achieved in the form of atomic cross-chain swaps, also known as atomic swaps, is one of the earliest contributions to the field of blockchain interoperability. Using atomic swaps, users of various cryptocurrencies can exchange their assets in a trustless and atomic way. Atomic swaps, however, do not permit the transfer of a token from one blockchain to another in the sense that a specific amount of assets is destroyed on the source blockchain, and the same amount is (re)created on the destination blockchain. Atomic swaps, as its name suggests, allow for token exchanges across blockchain boundaries rather than transfers. This implies that atomic swaps always require a counterparty ready to trade tokens. Online markets provide a back door for exchanging tokens. To date, however, this has required the existence of a reliable, centralized body, which runs opposite to blockchains decentralized nature. As a result, cross-chain technology is rapidly being discussed as the best way to improve interoperability between blockchains. This article will discuss how blockchain interoperability is achieved, followed by the benefits and challenges of blockchain interoperability. What is cross-chain technology? The capacity of a distributed ledger technology (DLT) design to get data from or exchange data with external systems is referred to as interoperability. Cross-chain technology facilitates data interchange among DLT designs or external systems, which aids in achieving interoperability. Such data exchanges can improve the security of DLT designs, boost flexibility, and resolve performance difficulties. Sharding, for instance, can be used to address issues with low throughput and poor scalability. In sharding, a distributed ledger is divided into tiny chunks that may be controlled separately, allowing for parallel transaction processing to boost performance and scalability. Asset transfers, cross-chain oracles, and cross-chain smart contracts are the potential use cases of cross-chain technology. Assets are transferred from one distributed ledger to another during asset transfers. Cross-chain oracles, in contrast, provide data from one distributed ledger to another as opposed to changing assets. For instance, cross-chain oracles can be used to confirm that specific events (s

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Skip to content Interoperability Diverse applications with different philosophies, feature sets, and approaches are fantastic for bitcoin. It allows many different users around the world to choose the applications that best fit their needs. For this to be practical, interoperability should be worked towards for smoother interactions with fewer mistakes. Below are areas within your bitcoin application where interoperability should be a focus. Payments # You should ensure your application is interoperable with the various techniques for sending and requesting bitcoin. Supporting, generating, and reading as many payment request formats as possible in your application will make it more interoperable with others. It also matters how these formats are generated. Your applications should be able to read, and generate, BIP 21 encoded payment requests. An evolving standard that improves payment usability between on-chain and lightning is being able to read and generate unified bitcoin payment requests that contain an on-chain address and lightning invoice inside a BIP 21 URI. When dealing with lightning invoice amounts , your application should be able to read and generate zero amount invoices. Payment links, often using BIP 21, should be readable by your application. Forms should be automatically opened and filled when a user clicks a payment link or button. Near-field communication (NFC) should be supported for paying and sharing payment requests. Wallet backups # Wallet backups generated in one wallet application should be able to be easily restored in another. Over the years, bitcoin wallets have implemented various features in different ways, partly because standards take time to evolve. Standards such as BIP39 recovery phrases and wallet descriptors should be used to create wallet backups within your applications. Backing up payment channels that are part of the lightning network can be more difficult. Currently, no standards exist for this, nor is it possible to have a static backup method like you can with on-chain bitcoin. Payment channels states regularly change and thus need to be regularly updated. Some applications make use of static-channel-backup (SCB) files, though this is still an evolving standard. It should be convenient for users to back up the relevant information they need for recovery with other applications. An example solution is to provide a printable template or downloadable PDF with the wallet name, software name and version, address type, wallet descriptors, and other non-standard information. If your application makes use of the lightning network this could be done in conjunction with regular, encrypted SCB cloud backups. User data # Data that users create, such as contacts , payment descriptions, notes, etc., should be interoperable between different bitcoin applications. Transaction data is stored on the bitcoin blockchain and available in any wallet a user has set up. However, transaction data does not contain any information about: the reasons why a transaction was made, who owns each address, which node a lightning payment was made to, etc. To better understand and organize their finances, users typically enrich transaction data by assigning contacts, notes, labels, and other useful information. This data should be stored in standardized, open formats and easily synced between applications. This is espe

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Skip to main content Data is currently not available Search Nasdaq Clear Search Data is currently not available No Results Found Top Searches Trending Symbols Trending Articles Recently Viewed Symbols Nasdaq Listed Nasdaq 100 Data is currently not available Cryptocurrencies How Interoperability Can Improve Crypto Payments Contributor Anthony Clarke Published May 25, 2023 1:40PM EDT Credit: Nuthawut / stock.adobe.com

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Open in app Sign up Sign in Write Sign up Sign in Blockchain Interoperability Moving Assets Across Chains Stefan Beyer Follow Published in Cryptonics 9 min read Nov 5, 2018 -- 1 Listen Share Since Bitcoin emerged as the worlds first peer-to-peer currency, it has become common practice to represent assets on blockchains. Assets may be protocol-level cryptocurrencies, such as Bitcoin and Ether or they may be implemented in smart contracts, in the form of fungible or non-fungible tokens. In any case, there is now a very large eco-system of decentralized assets, represented on a number of different blockchains. Making these blockchains work with each other in a way that allows trading or moving assets between different chains is a challenge, mainly because blockchains are designed to be self-contained ecosystems. Breaching the boundaries this ecosystem introduces risks related to trust and security. Therefore, any blockchain interoperability solution has to be designed carefully. When dealing with assets on different blockchains, there are two main interoperability scenarios: trading an asset on one chain for another asset on another chain or representing an asset on several chains and moving instances from one chain to another. These two cases are different in nature and need to be implemented differently. Lets look at the easier case of trading one asset for another first, before discussing strategies for moving assets across chains. Trading Assets on Separate Chains Atomic Swaps Atomic swaps Lets assume Bob wants to make a trade with Alice, buying 10 Ether with 1 Bitcoin. Of course, this is currently a bad deal for Bob, but lets forget about exchanges rates for a moment and use these numbers for simplicity. Bob and Alice could use a trusted third party to do this trade, for example a centralized cryptocurrency exchange. However, in the true spirit of decentralization, Bob and Alice do not wish to use a middleman and prefer to rely on the built-in trust of the two blockchain protocols involved. The desired property of the asset swap is atomicity. This means that either both transfer operations happen, or none at all. One of the parties receiving the asset without also transferring the counter value is not an option. The resulting operation is, therefore, called an atomic swap . Hash-locks There is a simple strategy that Bob and Alice can use to perform their atomic swap without trusting each other and without relying on a trusted third party. They can use hash-locks on both chains to perform the two transfer operations atomically. This works as follows: Alice sends Bob 10 Ether through a smart contract. However, the contract is locked with a secret that needs to compute to a hash visible in the contract. Note, that hash functions are one-way functions, so the transaction can only be unlocked by providing the secret only known to Alice at this stage. Bob now uses the same hash as a lock on a Bitcoin transaction to Alice. He does not know the secret yet, but he knows its hash value. Once Alice sees that Bob has locked the correct amount of Bitcoin with the same hash, she can unlock the Bitcoin transaction by supplying the original secret that computes to the required hash. By doing though, she not only releases the funds but at the same time publishes the secret on the blockchain. Bob, who has now learned the secret, uses it to unlock the Ethereum transaction directed to him. Timeouts But what would happen if Alice never unlocked the Bitcoin transaction? Well, both transactions would remain stuck forever. Therefore, atomic swaps require a timeout. If the transaction is not completed by providing a secret within a time t , the funds should be refunded. In our case, Alice creates the first transaction and creates the secret. Consider the case of the tim

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/ How to implement asset interoperability between Bitscale and Bitcoin 9 0.39 Blockchain Interoperability Moving Assets Across Chains Medium https://medium.com cryptronics blockcha... Medium https://medium.com cryptronics blockcha... 2018115 Assets may be protocol-level cryptocurrencies, such as Bitcoin and Ether or they may be implemented in smart contracts, in the form of fungible... Bitscale | Bitscale How do you get blockchain interoperability? What is interoperability and scalability of blockchain? What are the challenges of interoperability in crypto? What is cross-chain interoperability protocol? Bringing interoperability to blockchain to create frictionless ... LinkedIn https://www.linkedin.com pulse bringing... LinkedIn https://www.linkedin.com pulse bringing... 2023717 The first use case will involve the transfer of tokenised assets between two wallets on the same public blockchain network (Ethereum Sepolia... Bitscale | Bitscale Blockchain interoperability solutions and challenges Finextra Research https://www.finextra.com latest blogs Finextra Research https://www.finextra.com latest blogs 20231030 To get more out of blockchain technology, interoperability is crucial for seamless communication and transfer of data and assets between ... Bitscale | Bitscale Unveiling the Best Cryptocurrency Interoperability ... ReadWrite https://readwrite.com unveiling-the-best-cr... ReadWrite https://readwrite.com unveiling-the-best-cr... 2023103 Discover top 2023 cryptocurrency interoperability solutions for seamless blockchain communication. Stay ahead in the crypto world! Bitscale | Bitscale Interoperability World Economic Forum https://widgets.weforum.org pdf interoperability World Economic Forum https://widgets.weforum.org pdf interoperability PDF Put simply, interoperability is: (a) the ability for computer systems to exchange and make use of information and (b) entailing the ability to transfer an asset . 13 Bitscale | Bitscale How Interoperability Can Improve Crypto Payments NASDAQ https://www.nasdaq.com articles how-inte... NASDAQ https://www.nasdaq.com articles how-inte... 2023525 These mechanisms enable the secure and trustless exchange of assets between different blockchains, ensuring compatibility and smooth operation... Bitscale | Bitscale The current state of interoperability between ... EU Blockchain Observatory & Forum https://www.eublockchainforum.eu reports EU Blockchain Observatory & Forum https://www.eublockchainforum.eu reports PDF 20231130 The rapid growth of Bitcoin has led to the creation of thousands of cryptocurrencies and crypto assets stored on a wide variety of blockchains (... Bitscale | Bitscale Swift explores blockchain interoperability to remove friction ... Society for Worldwide Interbank Financial Telecommunication https://www.swift.com news-events news Society for Worldwide Interbank Financial

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Open in app Sign up Sign in Write Sign up Sign in Ryodan Systems AG Announces Completion of Strategic Round for Project INTMAX, Aiming to Globalize Ethereum as a Payment Infrastructure INTMAX Follow 5 min read Nov 2 -- Listen Share ZURICH, SWITZERLAND Ryodan Systems AG, a leading Swiss blockchain company, proudly announces the successful completion of its strategic funding round for Project INTMAX. With its innovative Ethereum Layer2 project, INTMAX zkRollup, and the recently launched INTMAX Wallet, the company is poised to revolutionize Ethereums global infrastructure. Key Highlights: The state-of-the-art Layer2 protocol boasts near-zero transaction fees. Biometric authentication and the latest encryption technologies MPC, FHE ensure heightened security and unparalleled user convenience. The INTMAX stateless zkRollup uniquely achieves a balance between near-zero gas costs and data sovereignty. About 1,000 wallets have been created each day since the launch. With this strategic funding round, were one step closer to our vision of Ethereums global infrastructure. By merging almost zero fees with cutting-edge security measures, were setting a new standard for the cryptocurrency industry. Leona Hioki, CEO of Ryodan Systems AG Investors: The recent strategic round saw significant participation from investment giants including LD capital, KX, GMO web3, and Kepple Africa Ventures. Their collective belief in Ryodans vision solidifies the companys trajectory in the blockchain space. [Comments from the investors] LD Capital LD Capital invested in Intmax due to its innovative approach to blockchain scaling. The Intmax protocols unique Zero-Knowledge rollup design shifts computational demands to the client-side, reducing block producer burden and ensuring scalability. LD Capital believes Intmax is the future of efficient, decentralized blockchain solutions. GMO AI & Web3 Were convinced that secure wallets, straightforward and accessible for all, such as the INTMAX Wallet from Project INTMAX, play a pivotal role in the widespread acceptance of Web3. Furthermore, the synergies with the infrastructure, payment, and security sectors of the GMO Internet Group are evident, and were optimistic about potential business partnerships in diverse domains going forward. Were excited about a future where Project INTMAXs technology stands as a cornerstone of global payment systems! KX Paul Thanaarmates Arriyavat, Venture Director of KX KX is excited to be part of the strategic funding round for Project INTMAX. Ryodan Systems vision aligns with our investment philosophy, and we believe in their potential to transform Ethereums global infrastructure. The combination of near-zero fees and robust security measures is poised to set new industry standards. Were thrilled to be part of this journey. Kepple Africa Ventures Satoshi Shinada, General Partner We believe that Intmaxs Layer 2 solution addresses Africas critical need for remittance by creating an extremely low cost infrastructure. We are impressed by the founders strong commitment to the Nigerian market and their consistent efforts to minimize gas fees for Ethereum blockchain, and we are delighted to participate in Intmaxs initiatives as an investor. Kepple Africa Ventures is committed to providing our strong local network and knowledge, and together with Intmax, we aim to demonstrate that a global remittance/payment infrastructure can emerge from the continent. During our last seed round, we received participation from a wide range of venture capital firms, including those who have supported the blockchain from its early days. These include Ceres, HashKey Capital, Alchemy Ventures, B Dash Ventures, MZ Web3 Fund, Bitscale Capital, Antalpha Ventures, and more. (in no particular order). With the realization of the wallet launch and a cle

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Search company, investor... Predict your next investment Join a Demo Investments 2 About Maeve Ventures Maeve Ventures is an independent firm that specializes in blockchain, cryptography and other digitization technology enabling new businesses. Headquarters Location Texas, United States Suggest an edit Are you an investor? Submit your portfolio details now to be considered in our investor rankings. Submit portfolio details Latest Maeve Ventures News DeHorizon Closes $8.5M Pre-A Funding Round Oct 12, 2021 San Francisco, CA-based DeHorizon Foundation, the team behind DeHorizon , completed an$8.5 millionPre-A funding. The round was led by Sfermion, Dragonfly Capital and Everest Ventures Group with participation from Animoca Brands, Yield Guild Games, Mechanism Capital, Gumi Cryptos Capital, Infinity Venture Crypto, Akatsuki Inc, BitScale, Republic Realm, Youbi Capital, Bybit, The Lao, LD Capital, Momentum 6, Dialectic, Stable Node, Kardia Ventures, Tess Ventures, Meteorite Labs, Taureon, Ruby Capital, Jsquare, Zonff Partners, Pluto Capital, WaYi, Formless Capital, Crasolum, Lucid Blue Ventures, Puzzle Ventures, Maeve Ventures, Blockdream Ventures, Bo Feng,Darren Lau, Santigo Santos, Miss Bitcoin, and MASA. The new funding will help them to accelerate DeVerses development and grow the team. DeHorizon Foundation is dedicated to creating DeHorizon a community-powered Game Metaverse, making Play for fun and to Earn come into reality. Complying with the principle of empowering all players to control their own assets, privacy information, and power of governance, DeHorizon Metaverse will be managed by the decentralized autonomous community, which is DAO. DeVerse is the first blockchain-based MMO/RPG on DeHorizon, a barbarous version of high fantasy action-adventure game. In DeVerse, players will explore the open world of epic battles, minting NFT monsters, mining resources, embarking on heroic quests, taming wild creatures, and muchmore. Recently, DeHorizon launched the first-ever interoperable, editable and evolvable ERC-721 NFT DeMeta Pass ID(DeMeta) to solve the problem of NFTs connection and further development. Building up the interopability of NFTs may be an important catalyst to contribute Metaverse forward to open, connection networks. Within less than 30 minutes, their first batch of ERC-721 DeMeta NFT were immediately claimed out. An advancing NFT experiment has been witnessed, freely open to everyone. FinSMEs Learn more by joining our daily demo Maeve Ventures Investments 2 Investments Maeve Ventures has made 2 investments . Their latest investment was in DeHorizon as part of their Seed VC on October 10, 2021 . Maeve Ventures Investments Activity View Investments Chart Date Round Company Amount New? Co-Investors Sources 10/12/2021 Seed VC DeHorizon $8.5M Yes Akatsuki , Animoca Brands , Bitscale Capital , Bybit , Crasolum , Dialectic , Dragonfly , Everest Ventures Group , Everyrealm , Formless Capital , gumi Cryptos , Infinity Ventures Crypto , Jsquare , Kardia Ventures , LD Capital , Lucid Blue Ventures , Mechanism Capital , Meteorite Labs , Momentum 6 , OKX , Puzzle Ventures , Ruby Capital , Sfermion , Stable Node , Taureon , Tess Ventures , The LAO , Undisclosed Investors , WaYi , Yield Guild Games , Youbi Capital , and Zonff Partners 5 9/21/2021 Seed VC Subscribe to see more $99M Subscribe to see more Subscribe to see more 10 Date 10/12/2021 9/21/2021 Round Seed VC Seed VC Company DeHorizon Subscribe to see more Amount $8.5M $99M New? Yes Subscribe to see more Co-Investors Akatsuki , Animoca Brands , Bitscale Capital , Bybit , Crasolum , Dialectic , Dragonfly , Everest Ventures Group , Everyrealm , F

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Home Blog Research: Cross-Chain Interoperability Research: Cross-Chain Interoperability 27.10.2023 Mihail Ceban Reviewed by Alex Cucer Research This research delves into blockchain interoperability, highlighting its significance in the evolving blockchain landscape. The study explores challenges in achieving seamless inter-blockchain communication and presents various use cases, from token exchanges to implications in Decentralized Finance (DeFi) and gaming. Different interoperability methods, such as Hashed Timelock Contracts (HTLCs) and sidechains, are discussed. The paper provides the analysis of leading interoperability platforms like Polkadot, Cosmos, and others, emphasizing their unique mechanisms and contributions. Major security breaches in the domain are also addressed, underscoring the need for robust security. In essence, the study offers a comprehensive yet concise overview of the current state and future prospects of blockchain interoperability. Introduction Blockchain technology, since its inception, has promised a decentralized future where transactions and data are immutable, transparent, and secure. As the ecosystem has evolved, numerous blockchains with varied architectures, protocols, and consensus mechanisms have emerged. While each blockchain offers unique features and advantages, they often operate in isolation, leading to fragmented data and limited interoperability. This isolation hinders the full potential of blockchain technology, as it limits collaboration, transparency, and the seamless exchange of value and information across different chains. The concept of Cross-chain interoperability seeks to address this challenge by enabling different blockchains to communicate and interact seamlessly. Achieving this interoperability, however, is not without its challenges. From data fragmentation due to isolated blockchains to the diverse architectures and consensus mechanisms that make it difficult to design compatible solutions, the road to true interoperability is fraught with obstacles. Additionally, as the number of connected blockchains increases, scalability becomes a concern, potentially affecting performance and leading to network congestion. Security and privacy are also paramount, as cross-chain transactions introduce new complexities and potential vulnerabilities. Despite these challenges, the importance of cross-chain interoperability cannot be understated. It has the potential to unlock new business models, revenue opportunities, and innovative applications by connecting different chains and leveraging their unique strengths. Projects like Cosmos, Chainlink, Polkadot and others are at the forefront of addressing interoperability issues, aiming to foster innovation, collaboration, and mass adoption. In essence, this research delves deep into the realm of cross-chain interoperability, exploring its challenges, use cases, types, and the various solutions and approaches currently being developed in the blockchain space. Understanding Interoperability Blockchain interoperability refers to the ability of different blockchain networks to communicate, share data, and transact with each other seamlessly[ 2 ]. It enables blockchains to exchange information and digital assets without any centralized authority [5] . The foundation of blockchain interoperability is cross-chain messaging protocols, which allow blockchains to read data from and/or write data to other blockchains [1] . The significance of blockchain interoperability lies in its potential to unlock the full power of blockchain technology by breaking down the barriers of isolated networks [2] . Some of the key benefits of blockchain interoperability include: Greater efficiency. Interoperability allows for the smooth transfer of data and assets between different blockchain networks, reducing the need

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IET Blockchain Volume 3, Issue 3 p. 149-158 REVIEW Open Access A review of blockchain cross-chain technology Li Li , Li Li orcid.org/0000-0001-8818-6687 School of Automation Science and Engineering, South China University of Technology, Guangzhou, China Guangdong Institute of Science and Technology Information, Guangzhou, China Contribution: Writing - original draft, Writing - review & editing Search for more papers by this author Jiahao Wu , Jiahao Wu School of Automation Science and Engineering, South China University of Technology, Guangzhou, China Contribution: Writing - review & editing Search for more papers by this author Wei Cui , Corresponding Author Wei Cui [emailprotected] orcid.org/0000-0003-1755-7887 School of Automation Science and Engineering, South China University of Technology, Guangzhou, China Correspondence Wei Cui, School of Automation Science and Engineering, South China University of Technology, Guangzhou 510641, China. Email: [emailprotected] Contribution: Writing - review & editing Search for more papers by this author Li Li , Li Li orcid.org/0000-0001-8818-6687 School of Automation Science and Engineering, South China University of Technology, Guangzhou, China Guangdong Institute of Science and Technology Information, Guangzhou, China Contribution: Writing - original draft, Writing - review & editing Search for more papers by this author Jiahao Wu , Jiahao Wu School of Automation Science and Engineering, South China University of Technology, Guangzhou, China Contribution: Writing - review & editing Search for more papers by this author Wei Cui , Corresponding Author Wei Cui [emailprotected] orcid.org/0000-0003-1755-7887 School of Automation Science and Engineering, South China University of Technology, Guangzhou, China Correspondence Wei Cui, School of Automation Science and Engineering, South China University of Technology, Guangzhou 510641, China. Email: [emailprotected] Contribution: Writing - review & editing Search for more papers by this author First published: 31 May 2023 https://doi.org/10.1049/blc2.12032 Citations: 1 Abstract Along with the continuous breakthroughs and

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Open in app Sign up Sign in Write Sign up Sign in A Dive into Lightning Network (Part One) HTX Research Follow Published in HTX Research 17 min read Aug 5, 2020 -- Listen Share NoteThe Link of A Dive into Lightning Network (Part Two) A Dive into Lightning Network (Part Two) 3. Ecosystem of Lightning Network medium.com NoteThe Link of A Dive into Lightning Network (Part Three) A Dive into Lightning Network (Part Three) NoteThe Link of A Dive into Lightning Network (Part Two) medium.com Abstract As Bitcoin has been gaining an increasing level of popularity, its scalability issue has always been considered one of the biggest dark cloud from the very beginning. To address this top concern, academic researchers and industrial practitioners proposed a variety of solutions, including block expansion, sharding, side chain etc. Lighting Network, representative of the payment channel based solutions to the blockchain scalability limitation, has been widely acknowledged as the most promising technique in this context, or the perfect lightning to cut through the dark cloud on top of Bitcoin. Since 2015 when the white paper of Lightning Network was released, Lightning Labs, ACINQ and Blockstream as the top three leading players have implemented the protocol of Lightning Network based on mainstream programming languages and developed important technical frameworks as well. Developers from popular open-source communities also actively joined the ecosystem of Lightning Network to create different types of useful applications, such as digital wallet, game, online shopping, instant messaging etc. Nowadays, Lightning Network has become a platform with more than 13,000 nodes and 37,000 payment channels operating on around 1,000 bitcoins. From the technical perspective, Lightning Network is a layer-2 off-chain scalability optimization of Bitcoin. More specifically, it was derived from the micro-payment channel technique with two key extensions, i.e., Revocable Sequence Maturity Contract (RSMC) and Hashed Time Lock Contract (HTLC) respectively. Micro-payment channel allows users to perform off-chain one-way payments thus enables more efficient payments compared to on-chain transactions. However, the main limitation of micro-payment channel is that only one-way payments are supported and a specific payment should be completed within a specified time window. Based on micro-payment channel, RSMC enables bi-directional payments without time limits and delivers a real-time high-performance solution for a pair of users with business relationships. Furthermore, HTLC creates a trusted multi-party payment framework to securely transfer funds through a routing path. The combination of RSMC and HTLC is the core of Lightning Network. Like many other technical inventions, the design of Lightning Network is a double-edged sword. On one hand, Lightning Network creates a technical solution which is able to increase the scalability of Bitcoin to another level with low transaction fee and can flexibly interface to cross-chain transactions. Such potential is important to the ecosystem in terms of attracting more developers and motivating new models of application as well. On the other hand, the nature of Lightning Network will inevitably raise concerns on centralization, stability, privacy and usability issues, all of which are very challenging tasks. While new problems are introduced by new technologies, new technologies are always created to address new problems. Lightning Network is also facing a similar situation and a similar opportunity at the same time. In order to mitigate limitations of Lightning Network itself, an increasing number of research teams have been working on new practical solutions. For example, watch tower was proposed to protect digital assets of offline users. Submarin

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Amazon Managed Blockchain AWS AWS (Bitcoin) Singapore Exchange Limited Sony Music Entertainment Japan Amazon Amazon John Jill John Jill Jill John John Jill 1 2 3 4 (Ethereum) (Litecoin) Ripple (Global Shipping Business Network Consortium) Hyperledger Fabric Hyperledger Fabric (Ethereum Enterprise) Corda Corda Corda Corda Quorum Quorum 1970 Ralph Merkle Merkle 1990 Stuart Haber W. Scott Stornetta Merkle

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Home Blog Research: Cross-Chain Interoperability Research: Cross-Chain Interoperability 27.10.2023 Mihail Ceban Reviewed by Alex Cucer Research This research delves into blockchain interoperability, highlighting its significance in the evolving blockchain landscape. The study explores challenges in achieving seamless inter-blockchain communication and presents various use cases, from token exchanges to implications in Decentralized Finance (DeFi) and gaming. Different interoperability methods, such as Hashed Timelock Contracts (HTLCs) and sidechains, are discussed. The paper provides the analysis of leading interoperability platforms like Polkadot, Cosmos, and others, emphasizing their unique mechanisms and contributions. Major security breaches in the domain are also addressed, underscoring the need for robust security. In essence, the study offers a comprehensive yet concise overview of the current state and future prospects of blockchain interoperability. Introduction Blockchain technology, since its inception, has promised a decentralized future where transactions and data are immutable, transparent, and secure. As the ecosystem has evolved, numerous blockchains with varied architectures, protocols, and consensus mechanisms have emerged. While each blockchain offers unique features and advantages, they often operate in isolation, leading to fragmented data and limited interoperability. This isolation hinders the full potential of blockchain technology, as it limits collaboration, transparency, and the seamless exchange of value and information across different chains. The concept of Cross-chain interoperability seeks to address this challenge by enabling different blockchains to communicate and interact seamlessly. Achieving this interoperability, however, is not without its challenges. From data fragmentation due to isolated blockchains to the diverse architectures and consensus mechanisms that make it difficult to design compatible solutions, the road to true interoperability is fraught with obstacles. Additionally, as the number of connected blockchains increases, scalability becomes a concern, potentially affecting performance and leading to network congestion. Security and privacy are also paramount, as cross-chain transactions introduce new complexities and potential vulnerabilities. Despite these challenges, the importance of cross-chain interoperability cannot be understated. It has the potential to unlock new business models, revenue opportunities, and innovative applications by connecting different chains and leveraging their unique strengths. Projects like Cosmos, Chainlink, Polkadot and others are at the forefront of addressing interoperability issues, aiming to foster innovation, collaboration, and mass adoption. In essence, this research delves deep into the realm of cross-chain interoperability, exploring its challenges, use cases, types, and the various solutions and approaches currently being developed in the blockchain space. Understanding Interoperability Blockchain interoperability refers to the ability of different blockchain networks to communicate, share data, and transact with each other seamlessly[ 2 ]. It enables blockchains to exchange information and digital assets without any centralized authority [5] . The foundation of blockchain interoperability is cross-chain messaging protocols, which allow blockchains to read data from and/or write data to other blockchains [1] . The significance of blockchain interoperability lies in its potential to unlock the full power of blockchain technology by breaking down the barriers of isolated networks [2] . Some of the key benefits of blockchain interoperability include: Greater efficiency. Interoperability allows for the smooth transfer of data and assets between different blockchain networks, reducing the need

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Table of Contents Expand Table of Contents Hashed Timelock Contract (HTLC) Understanding HTLCs The Process Smart Contracts FAQs Cryptocurrency Strategy & Education Trending Videos What Is a Hashed Timelock Contract (HTLC)? A hashed timelock contract (HTLC) is a type of smart contract used in blockchain applications. It reduces counterparty risk by creating a time-based escrow that requires a cryptographic passphrase for unlocking. In practical terms, this means that the person receiving the funds in a transaction has to perform two actions to access the funds: enter the correct passphrase and claim payment within a specific timeframe. If they enter an incorrect passphrase or do not claim the funds within the timeframe, they lose access to the payment. Key Takeaways A hashed timelock contract (HTLC) reduces counterparty risk in decentralized smart contracts by effectively creating a time-based escrow that utilizes a cryptographic passphrase. This type of smart contract requires the receiver of a payment to acknowledge it within a certain period of time or forfeit it. Payments using HTLCs are conditional and so have efficiency benefits for blockchain transactions. This property makes HTLCs a fundamental tool used by the lightning network. Understanding Hashed Timelock Contracts (HTLCs) A Hashed Timelock Contract (HTLC) uses several elements from existing cryptocurrency transactions. For example, HTLC transactions use multiple signatures consisting of a private and public key to verify and validate transactions. However, two elements distinguish HTLC from standard cryptocurrency transactions with smart contracts the hashlock and the time contract. Hashlock The first element is the hashlock. A hashlock is a hashed or cryptographically scrambledversion of a public key generated by the person that initiated the transaction. The associated private key is then used to unlock the original hash. In HTLC, the initiating party generates a key and hashes it. The hash is stored in a pre-image, which is revealed during the final transaction. HTLCs are programmed to expire after a certain period passes or a specific number of blocks are generated, creating a known termination date and time. To conduct a transaction using HTLC, both parties need to open channels with each other.This is generally done using a wallet, an exchange, or both. Timelock The second important element of HTLC is a timelock. Two different timelocks are used to set time constraints on contracts generated using HTLC. The first one is CheckLockTimeVerify (CLTV). It uses a time base to lock and release cryptocurrency. This means that time constraints are hardcoded, and coins are released only at a specific time and date or a specific height of block size. Atomic swaps cross-chain trading between cryptocurrencies are often achieved using HTLCs. Additionally, Bitcoins lightning network (LN) also employs HTLCs. The second one is CheckSequenceVerify (CSV). It is not dependent on time; instead, it uses the number of blocks generated as a tracking measure to determine when to finalize a transaction. The Process in a Hashed Timelock Contract Suppose Alice wants to exchange her Bitcoin for Litecoin from Bob. A typical HTLC transaction between them takes place as follows: Alice generates a hash from her Litecoin private key and sends it to Bob. She also generates a pre-image of the hash by creating a nominal transaction. This pre-image will help her validate and finalize the transaction. Bob also generates a hash from his key and sends it to Alice. In addition to this, he creates a p

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/ Hashed Timelock Contracts (HTLCs) and two-way pegging 1,060 0.38 Hashed Timelock Contract (HTLC): Overview and ... Investopedia https://www.investopedia.com terms hash... Investopedia https://www.investopedia.com terms hash... 2023821 A hashed timelock contract (HTLC) is a smart contract used in cryptocurrencies to configure time-bound contracts . pegging | pegging What is a hashed time lock contract? What is lightning network and the usage of hashed time locked contract? What is Htlc lightning? What is the function of timelock? MPHTLC: Enabling blockchain interoperability through a ... Wiley Online Library https://onlinelibrary.wiley.com doi full cpe Wiley Online Library https://onlinelibrary.wiley.com doi full cpe F Barbra 2023 1 The idea of hash time-lock contracts ( HTLCs ) has been around from 2013. ... A centralized two - way peg is a single entity that locks and then... What Is Bridging? Here's A Quick Overview Kaleido.io https://www.kaleido.io blockchain-blog Kaleido.io https://www.kaleido.io blockchain-blog 2023926 Hashed timelock contracts ( HTLCs ): HTLCs are a type of smart contract that allows the transfer of assets or information between two parties in a... Decentralized Scalability A Quick Comparison of Smart ... Blockgeeks https://blockgeeks.com guides decentraliz... Blockgeeks https://blockgeeks.com guides decentraliz... 2020112 While there are many different types of payment channels out there, the most popular kind, by far, are hashed timelock contracts or HTLCs . Bitcoin Upper Layers Explained: Types, Origins, & Future Rootstock.io https://blog.rootstock.io noticia bitcoin-la... Rootstock.io https://blog.rootstock.io noticia bitcoin-la... Most channels are publicly advertised, and they require the pre-deposit of an amount of bitcoins in a shared account known as Hashed Timelock Contract (HTLC). Research: Cross-chain interoperability Syndika https://syndika.co Blog Syndika https://syndika.co Blog 20231027 On the decentralized front, Hashed Timelock Contracts ( HTLCs ) have emerged as a robust solution. ... An example run of the two - way pegging ... An overview on cross-chain: Mechanism, platforms, ... ScienceDirect https://www.sciencedirect.com article pii ScienceDirect https://www.sciencedirect.com article pii W Ou 2022 22 Two - way peg is the process of two - way transfer of assets on the ... Russell, Lightning networks part ii: hashed timelock contracts ( htlcs )... Hashed Timelock Contract (HTLC) WallStreetMojo https://www.wallstreetmojo.com hashed-ti... WallStreetMojo https://www.wallstreetmojo.com hashed-ti... 2023519 Hashed Timelock Contract , in blockchain technology, allows crypto users to modify payment details by sending confirmation to the receiver. pegging | pegging MP-HTLC: Enabling blockchain interoperability through a ... Wiley Online Library https://onlinelibrary.wiley.com

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/ Implementing two-way pegging in a BTC second layer network with PBFT consensus and ZK-EVM technology 166 0.44 BitVM Could Enable 2-Way Pegs The Bitcoin Manual https://thebitcoinmanual.com Articles The Bitcoin Manual https://thebitcoinmanual.com Articles 20231121 A 2 - way peg (2WP) allows the transfer of bitcoins from the Bitcoin blockchain to a Secondary blockchain or side-chain and vice-versa without... PBFT ZK- EVM Proof-of-Work Sidechains | Request PDF ResearchGate https://www.researchgate.net publication ResearchGate https://www.researchgate.net publication ... Meanwhile, there is a two-way peg, which is usually implemented by smart contracts, to realize asset exchanges between the main chain and the sidechain . Blockchain in a nutshell arXiv https://arxiv.org pdf arXiv https://arxiv.org pdf PDF DA Tran 2022 2 illustrated in Figure 2: the P2P networking layer , the consensus layer , and the logic ... whereas Ethereum implements the first two layers ,... Exploring Blockchain Technology through a Modular Lens Cryptology ePrint Archive https://eprint.iacr.org ... Cryptology ePrint Archive https://eprint.iacr.org ... PDF M Xu 2023 1 communication issues using the PBFT consensus algorithm ... is expected to scale blockchain by separating the network communication layer from the consensus . A Survey on Cross-chain Technologies - ACM Digital Library ACM Digital Library https://dl.acm.org doi ACM Digital Library https://dl.acm.org doi 202368 2.1 Blockchain Interoperability Architecture. The BIA consists of five layers , i.e., network layer , data layer , consensus layer , incentive layer ... OP Research: Is "Cosmos" the Ultimate Form of Layer2? Gate.io https://www.gate.io learn articles is-cos... Gate.io https://www.gate.io learn articles is-cos... 20231126 It employs a hybrid consensus of PBFT combined with Bonded PoS, ensuring both ... The Interop Layer uses ZK Proof to implement native cross-chain... Mastering Blockchain, Second Edition Knight Foundation School of Computing and Information Sciences https://users.cs.fiu.edu Common textbooks Knight Foundation School of Computing and Information Sciences https://users.cs.fiu.edu Common textbooks PDF Page 1. 1. Page 2. Mastering Blockchain. Second Edition. Distributed ledger technology ... consensus algorithms like BFT or Raft depending on the requirements of... 911 What is the layer 2 protocol for the Bitcoin blockchain? What is the layer 2 ecosystem of Bitcoin? How does PoW implements consensus in Bitcoin blockchain? How does the proof of work consensus model protect cryptocurrencies against double spending attacks? Enabling Blockchain Scalability and Interoperability with ... arXiv https://arxiv.org pdf arXiv https://arxiv.org pdf PDF K Coutinho 2021 2 The solution known as cross chain technology enhances scalability by leveraging the combined respective throughputs of blockchains. As such,...

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