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IOST Partners With Polkadot For Cross-Chain Interoperability Breakthrough & Successfully Completed The Testnet for Cross-Chain Bridge
With the emergence of the cross-chain technology leader Polkadot in 2021, side-chain and cross-chain technologies are now a must-have for every worthy public chain project. Since its beginning, IOST has established a set of architectures for the future development of multi-chains, in order to allow any blockchain project to connect and better carry out the exchange of information. Cross-chain protocols are equivalent to establishing a bridge between all projects, and IOST has one.
5 March 2021, IOST successfully completed the testnet for cross-chain bridge and is at the final development stage for building a cross-chain transfer bridge to the Polkadot Ecosystem. The move is part of IOST’s plans to promote its cross-chain interoperability, bringing tremendous value for IOST users & developers and drive bigger adoption scenarios for its blockchain.
IOST Joins Forces with Polkadot
In the current blockchain industry, almost every blockchain project is an independent ecosystem composed of its own users, tokens, and DApps with lacking connection to the outside world. This is a potential barrier to the future development of blockchain in general. IOST believes that the ultimate solution to the barrier is through cross-chain technology.
The new alliance will enable the transfer of the information, transactions, and asset values between IOST and make it available across all blockchains supported by Polkadot.
The IOST cross-chain transfer bridge has entered the final development stage, with most of its functions successfully tested in the Polkadot testnet environment.
This solution includes three parts:
1. IOST cross-chain asset contracts, through which users can submit cross-chain asset transactions.
In order to ensure simplicity, security, and minimal architecture constraints, the IOST cross-chain transactions follow the same standards as current external transactions.
2. The relay gateway is responsible for collecting the ...
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Stories by IOS Foundation on Medium