This article was first published on Wanchain - Medium
Chapter 3 of the Wanchain 5.0 deep dive article series
By Wanchain’s Chief Cryptographer and designer of Galaxy Consensus, Demmon Zhong
There are two fundamental problems to be solved in any cross-chain solution, one — how to lock and manage cross-chain assets, and two — how to verify cross-chain information. Wanchain 5.0 solves these two problems in a decentralized way using cryptographic techniques. In this article, we will introduce Wanchain 5.0’s solutions to these two problems and their advantages compared to other existing solutions.
Management of Locked Cross-chain Assets
Overview of Options for Managing Locked Cross-chain Assets
There are three commonly used methods for locking cross-chain assets, protocol-based methods, multi-signature based methods, and Multiparty Computation with Threshold Signatures Scheme (MPC / TSS) based methods. Wanchain makes use of a MPC / TSS based method.
Compared to other methods, it has the following advantages:
- Universal — It is applicable for any blockchain system without changing underlying mechanisms
- Efficient — Only one valid signature is needed to control the locked account, which reduces storage and computation
- Flexible — it allows any number of nodes to control the locked account and is adjustable to suit different needs
Wanchain applies different TSS (threshold signature schemes) according to the technical structures of blockchain systems. Specially, for blockchain systems that do not support smart contracts (such as Bitcoin), we use an ECDSA TSS scheme. For blockchain systems that support smart contracts (such as Ethereum, EOS), we use a Schnorr based TSS scheme. Wanchain 5.0 includes major upgrades to our previous TSS schemes, which ensures the security and decentralization of the whole system.
Wanchain 5.0’s Improved Threshold-optimal ECDSA TSS
We will first explain the concept of “threshold optimal”. Generally, in a (t,n) TSS scheme, there is a total number of nparticipants, of which t participants are required to generate a valid signature. “Threshold ...
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