Exchange is the most typical centralized inter-chain system
Deposite your BTC into the exchange, make transactions to exchange it for some ETH and then withdraw it. This process is essentially inter-chain,whoes most concerns is to turst the exchange. it’s Just like when you go to the court, only to find one presiding judge, who is the center, you must believe that he is fair and reliable, otherwise everything will be meaningless.
Mutually light client are the most ideal way of inter-chain
The most ideal way of interchain is to maintain the strengh of consensus security of the two chains, without any human intervention. In this inter-chain solution , they are side nodes and light client to each other , which is the most ideal decentralized inter-chain method.
First of all, verifying all the block heads of the original chain can identify the correct chain, and then verifying the transaction root and transaction signature could ensure that the funds are locked. In this way, the consensus algorithm of each chain is what trust is bases on . POW or POS , Is the highest level of security in cryptography. How safe is the original chain itself equals to how safe is the crypto currency mapped , and how safe is the user’s funds.
The BTC Inter-chain Woes
While depositing BTC on ChainX, ChainX act as a sidechain, buliding a light client of BTC, which is the process of issuing the corresponding X-BTC. The security of X-BTC is as strong as the BTC consensus ,, and there is no human intervention during the process.
However, when users want to withdraw X-BTC back to the BTC chain, the problem comes. The BTC chain ,who does’t have smart contract can not integrate the light client of ChainX, and they cannot use the side chain method to cross back to BTC from ChainX. As a result, ChainX cross-chain BTC cannot form a complete two way relay / sidechain model.
As how to solve the problom would be explained in the coming article!
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
