Goals

1. 'bridging' any token between any blockchain
2. experimentation
3. decentralized + federated

1. Any blockchain

Public, private
UXTO, accounts
​Take advantage of network effects

2. Experimentation

Encourage diversity

Hashlocked time contracts vs. multisig for Bitcoin

Reputation-based (lower cost)

Liquidity providers

Cosmos IBC, Polkadot fishermen

3. Decentralized federation

No trusted validators
"Mining" as opposed to remittance
Cryptoeconomic 

One-to-one bridging

Finality parameters (Cosmos IBC)

Chain Interopability (2016):

• timestamp on chain A is correct to within some error margin \( \delta_1 \)

• timestamp on chain B is correct to within \( \delta_2 \),

• message-passing latency between the chains is less than \( \delta_3 \)

Many-to-many bridging

• M chains, N bridges
• From O(M*N) to O(M+N) complexity

How?

• Use Merkle of Merkle trees for cross-chain causality (hashing is universal primitive)
• Cross-chain bridge slashing
• Only tokens of bridge are collateral damage

An early sketch

Sharding?

• We want interop between chains of different flavours
• Preferably not an intermediary chain
• Free market of relayers

Further exploration

Sparse Merkle Trees (efficiency)

Liquidity providers

Cross-chain portfolios