The Advantages of the Light-client Inter-Chain Approaches than Others
ChainX successfully implemented the inter-chain of Bitcoin for the first time using a light-client inters-chain approach. What are the advantages of this and other inter-chain approaches?
At present, Inter-chain technical solutions mainly include three types: hash lock, notary and relaychain.Hash-lock originates from the Bitcoin Lightning Network and relies heavily on users to perform specific operations within a specific time, otherwise transaction failure will even lead to loss of user assets. Currently, it is mainly used in atomic transactions and cannot be promoted on a large scale. Hash-lock realizes the exchange of inter-chain assets, but it cannot realize the transfer of cross-chain assets, and it cannot support inter-chain contracts, so its application scenarios are relatively limited.
The notary mechanism is a third party that both parties to the transaction can trust as the notary as an intermediary, so the two parties in the transaction can indirectly trust each other. This solution is very simple, but it conflicts with the concept of decentralization. The security of the notary public mechanism is not only determined by the blockchain itself, but by the notary public itself and its mortgaged assets. There may be security issues.
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
