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CROSS-BLOCKCHAIN
TRANSACTIONS
Transactions between
blockchains
QUOTE
“We build too many walls and not enough bridges
- Joseph Fort Newton
BLOCKCHAIN CHALLENGES
Initial Project
Cost
Integration
With Legacy
Systems
Energy
Consumption
Public
Perception
Privacy and
Security
1.Scalability
Connectivity
WHY CONNECTIVITY IS SO
IMPORTANT?
BLOCKCHAIN COMPATIBILITY USE
CASES
Value Transfer across
Blockchains
•Blockchain
Interoperability
•Multi-Token
Transactions
TYPES OF INTERACTION BETWEEN
BLOCKCHAINS “scalability-through-connectivity”
Atomic Swaps
Outsourcing Calculations to cheaper networks
Outsourcing data storage
Assets Migrations
ATOMIC SWAPS
ALICE BOB
1 ETHER
0.031 Bitcoin
OUTSOURCING CALCULATIONS
ASSET MIGRATION
OUTSOURCING DATA STORAGE
BRIDGING (CROSS-NETWORK
TOKEN SALE)
EXAMPLE OF BRIDGINGES
OPEN SOURCE ERC20 TOKEN
BRIDGE
POA NETWORK BRIDGE - DEPOSIT
POA NETWORK BRIDGE -
WITHDRAW
RIPPLE APPROACH
FUSION PLATFORM
LIGHTNING NETWORK
POLKADOT BLOCKCHAIN
INTEROPERABILITY PROJECT
•Validators secure the network and write to its
history
•Nominators give their bonds to validators thus
indicating trust
•Collators bundle transactions from all
parachains into the proof of validity blocks and
then submit them, unsealed, to validators
•Fishermen are the network’s police; try to weed
out bad actors from the Polkadot ecosphere and,
upon that, get a significant reward.
COSMOS’ INTERNET OF
BLOCKCHAINS
QUESTIONS
STAY IN TOUCH
Gene Leybzon https://www.linkedin.com/in/leybzon/
https://www.meetup.com/members/90744
20/
https://www.Leybzon.com

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Cross-blockchain transactions

Editor's Notes

  1. Atomic swap is a smart contract technology that enables exchange of one cryptocurrency for another without using centralized intermediaries, such as exchanges. Atomic swaps can take place directly between blockchains of different cryptocurrencies or they can be conducted off-chain, away from the main blockchain https://www.investopedia.com/terms/a/atomic-swaps.asp Atomicity of a swap refers to the constraint that the protocol should only have two outcomes, either Alice and Bob successfully exchange assets, or nothing happens. This property is crucial, as it ensures that neither party can cheat the other, and offers a method of swapping cryptocurrencies without a trusted third-party.
  2. https://www.aisingapore.org/2018/01/blockchain-based-system-secure-data-storage-private-keyword-search/
  3. POA Network https://medium.com/poa-network/cross-chain-bridges-paving-the-way-to-internet-of-blockchains-422ac94bc2e5
  4. https://medium.com/poa-network/cross-chain-bridges-paving-the-way-to-internet-of-blockchains-422ac94bc2e5
  5. https://github.com/poanetwork/token-bridge
  6. https://github.com/poanetwork/poa-bridge
  7. https://github.com/poanetwork/poa-bridge
  8. https://bitcoinexchangeguide.com/atomic-wallet-welcomes-ripples-xrp-coin-for-cross-chain-swaps-with-other-assets/
  9. https://fusion.org/ https://steemit.com/crypto/@joelsegovia/a-new-dawn-for-cryptofinance-fusion-brings-an-outstanding-framework-for-cross-chain-interoperability-and-for-financial-tools
  10. https://en.wikipedia.org/wiki/Lightning_Network https://medium.com/sparkswap/atomic-cross-network-swaps-50c62b51d078 https://blog.lightning.engineering/announcement/2017/11/16/ln-swap.html
  11. https://polkadot.network
  12. https://cosmos.network/ https://perfectial.com/blog/internet-of-blockchains/