Before the birth of Ethereum, the blockchain rarely talked about “contracts”, only coins.
Asset exchange: A wants to exchange X chain coins (Token) for Y chain tokens, and B wants to exchange Y chain coins for X chain coins. After the system matches, the two are successfully exchanged with each other.
Asset transfer:
A wants to transfer the assets (coin tokens) of the X chain to other blockchains, lock them on the X chain, and re-cast the equivalent amount of coins on the new chain.
Asset inter-chain-production exchange refers to the exchange of assets on one chain into assets on the other chain of equal value, and the total amount of assets on each chain remains unchanged. Inter-chain assets exchange. This is the inter-chain of coins. In essence, the inter-chain of coins does not have real coins running from one chain to another chain, but the coins are entangled with each other on the same chain as the locked and unlocked state.
Asset-based inter-chain is a decentralized exchange. Dependent coins can inter-chain, support user pending orders, provide matching through cross-chain contracts, and use the cross-chain of coins to complete the transfer of coins after the completion of the transaction.
Inter-chain call of smart contract
Smart contracts are essentially codes. These codes can be triggered to execute based on specific data on the blockchain.
We can simplify the understanding of a smart contract as a function, enter a specific parameter, the code will automatically trigger the execution, you can get a specific result, and give a stable output. Smart contracts cannot be triggered on their own initiative, and need to be triggered by external sources. For example, for smart contracts on Ethereum, the code is on the Ethereum blockchain. To activate the contract, you also need to send transactions on the Ethereum blockchain.
If a smart contract is published on one chain, and then based on specific information on another chain, the smart contract is triggered to perform specific operations. This is the inter-chain of smart contracts (calls).
Future prospects of inter-chain technology
Due to the complexity of inter-chain technology, the current transfer of linked assets, and the interconnection of the chain still have many problems that have not reached full maturity and are still in the exploration stage. The current blockchain world is like the single-machine era in the 1960s. Chains are highly heterogeneous and difficult to communicate with each other. All data and services are limited to island-style blockchains. If it is the future, all blockchain systems can be linked through a standardized inter-chain protocol, and then a large number of blockchain systems can work together to provide support for more users and more services. The maturity and popularity of inter-chain technology may detonate the prosperity of blockchain networks. The difference is that the Internet is a network with free circulation of information, while the blockchain inter-chain network is a network with free circulation of value.
The independent blockchain network will eventually move towards the interconnected future, that is, in the era of web3.0, how to link the existing and future blockchain networks into a unified whole, that is, the interconnection of everything is the future inter-chain The most important issue of the network.
About ChainX
- Official website: https://chainx.org
- Wiki: https://github.com/chainx-org/ChainX/wiki
- Twitter: https://twitter.com/chainx_org
- Medium: https://medium.com/@chainx_org
- Telegram: https://t.me/chainx_org
- White paper: https://chainx-static.oss-cn-hangzhou.aliyuncs.com/chainx_en.pdf
- Desktop wallet: https://github.com/chainx-org/chainx-wallet/releases/tag/v1.0.3
- Official Wechat: interchain
