UNIVERSAL MULTICHAIN BRIDGES WITH SHARED STAKING ASSETS

This article was first published on Wanchain - Medium
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Universal Multichain Bridges with Shared Staking Assets

Weijia Zhang and ZhongZhong Guo, Wanchain

Background

Wanchain is a project focusing on bridging homogeneous and heterogeneous blockchains to allow assets to transfer across multiple ecosystems. Recently Wanchain released Wanchain 5.0 with a fully permissionless and decentralized crosschain mechanism to include the following advantages:

• Wanchain 5.0 achieves the first implementation of open storeman meaning that anyone can join as a permission-less storeman. Wanchain community members know that Wanchain uses storeman to connect two blockchains for asset transfer. Wanchain 5.0 is the first release that makes storeman fully decentralized and changes from storeman to open storeman. Technically this is achieved through open MPC. MPC is a core technology of Wanchain to decentralize the ownership of accounts through a group of nodes, each owning a portion of a private key. At least over two-thirds of the nodes need to sign a transaction with their respective key share in order to transfer funds from an account. The MPC method combined with staking and slashing effectively prevents collusion by the storeman nodes.

• The reward rate for open storeman is coupled with the reward rate of Wanchain validator’s proof of stake. This is to present staking all going to the node validator or all going to storeman. As far as we know, Wanchain is the first project to implement this coupling mechanism. It increases the stability of staking for both the block validator and the storeman validator.

  • Wanchain provides a holistic open source crosschain suite for the 5.0 release. The Wanchain crosschain mechanism, storeman agents, P2P discovery, wallet, and browser have all been redesigned and implemented to increase performance and improve user experience.

Next Steps: Scaling Wanchain Crosschain Platform

With the release of permissionless and decentralized Wanchain 5.0, Wanchain has accomplished the basic infrastructure ...

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To keep reading, please go to the original article at:
Wanchain - Medium

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