Build a cross chain bridge
A multi-chain market and asset security:
Build a cross chain bridge As it has evolved over the years, the blockchain space has become a multi-chain market, with hundreds of thriving public chains, covering Ethereum, Ethereum 2.0, Solana, Terra, Cosmos, Avalanche, and many more. As they compete with each other in terms of ecosystem development, these public chains strive to attract more developers to their ecosystem. Meanwhile, DApps are also hoping to be deployed on more public chains to capture user traffic and asset liquidity.
However, since each public chain has its own unique underlying technical framework, joining public chain islands is an extremely expensive, complex, and insecure process.
It was recently reported that Ronin, the exclusive sidechain of Axie Infinity, was hacked and $624 million worth of crypto assets (including 173,600 ETH and 25.5 million USDC) were stolen, which is the most disastrous security breach among cryptocurrency bridges. cross chain. The hacking incident focused on private key management. As a cross-chain bridge involves the interaction of assets and data on two different public chains, its complex design has created a loophole in terms of contract permission, making it a target for hacking.
In light of such vulnerabilities, we can say that the root cause of attacks targeting cross-chain bridges is their sheer reliance on multiple signatures (between centralized members) or validators to protect asset transfers. Although this approach makes the transfer of assets between blockchains slightly faster, it also raises serious security concerns.
Cross-chain exchange at the communication layer:
Cross-chain solutions like support universal messaging, allowing all kinds of data and information (including arrests) to move across multiple ecosystems, and applications can even make arbitrary function calls across chains, allowing them to enter other communities without having to get deployed elsewhere. Other protocols, such as Synpase and CELER, are limited to cross-chain exchange of assets or tokens.
On-chain messaging remains a key component of the blockchain infrastructure. As DApp development and retail demand grows, the ability for a protocol to interact with its users in a meaningful and decentralized way will be a key growth factor.
When it comes to messages and chain bridging, almost all methods fall into the following two categories:
those that reach a consensus and form an intermediate chain that verifies and forwards messages between two chains.
those that execute a light node directly on the blockchain.