Why we need this?

It's all about web

CC-BY-SA patchattack@Flickr

Web

• Easy to access Resource

  • Computation (Smart Contract)
  • Storage (Transaction Record)
     

• Generation

  • 2.0 on server (may frangible)
  • 3.0 on chain (strong)

Silo Effect

CC-BY Paul Sableman@Flickr

We have a lot of things, but not easy to use

CC-BY Paul Sableman@Flickr

Pain Points

• 微信支付 → 支付宝、银联卡… 
• Images on Apple cloud → online photo editor
• Equipment in Diablo III → Skin on LoL
• BTC → ETH
• Overwatch on PSN → Zelda on Switch
• Zelda on Switch 1 month → Overwatch... more

Everything is stored as 0s and 1s on the web,

but not exchangeable.

We may not change this in Web 2.0,

but Web 3.0

on server

on chain

How to bridge

Asset exchange

• Traditional
  • Buy a house 
  • backing by government
• Web 2.0
  • Returns goods bought from Taobao
  • backing by Alibaba
• Web 3.0
  • BTC → Any digital things
  • backing by ?

Zamyatin, A., Harz, D., Lind, J., Panayiotou, P., Gervais, A., & Knottenbelt, W. (2019). XCLAIM: Trustless, Interoperable, Cryptocurrency-Backed Assets. 2019 IEEE Symposium on Security and Privacy (SP). doi: 10.1109/sp.2019.00085

Zamyatin, A., Harz, D., Lind, J., Panayiotou, P., Gervais, A., & Knottenbelt, W. (2019). XCLAIM: Trustless, Interoperable, Cryptocurrency-Backed Assets. 2019 IEEE Symposium on Security and Privacy (SP). doi: 10.1109/sp.2019.00085

The account you rely on

Rely on Multi-sig

A group of accounts you rely on

ChainX white paper

It works

but semi-centralized

 CC-BY-SA David Lee@Flickr

the bridge [on chain]

Web 2.0

Web 3.0

consensus: "trust" each others

The smart contract on chain that we trust

The modules on chain that we trust

Weber, Ingo & Lu, Qinghua & Tran, An Binh & Deshmukh, Amit & Gorski, Marek & Strazds, Markus. (2019). A Platform Architecture for Multi-Tenant Blockchain-Based Systems. 10.1109/ICSA.2019.00019. 

1. check parentHash
2. number → calc_difficulty  == difficulty
3. hashimoto(bare_hash, nonce) → calc_mixHash == mixHash

The event occurs on validate chain that we trust

The modules on chain that we trust

It works

and on chain

CC-BY-SA Brynn Tweeddale@Flickr

Rely on Multi-Sig

 ●  Works on any chain

       even without contracts

 ● High Pledge Cost

      too wast for small tx

      too dangerous  for big tx

 ● Not for NFT

Rely on SPV

CC-BY-SA Brynn Tweeddale@Flickr

 CC-BY-SA David Lee@Flickr

 ● Support low liquidity asset

      and NFT

 ● No Pledge Cost

 ● Not for BTC
      (solved by WBTC)

How can we trust the relayer?

Q & A

Photo by Carlos Arthur M.R on Unsplash

Let us help you exchange asset

See you on Darwinia Network

Thanks  You

mail to: zhoujing@itering.com

WANTED