Interoperability
Cross Chain Smart Contracts
Cross-chain interoperability enables different blockchains to communicate with each other, giving smart contracts the ability to read and write data to and from other blockchains via cross-chain transactions. A cross-chain protocol can be used to facilitates this communication.
Blockchains are not natively capable of communicating with each other. This makes blockchain interoperability vital in order to realize the full potential of a multi-chain ecosystem. With so much economic activity restricted on isolated networks, the need for cross-chain interoperability is becoming necessary for this industry.
Cross Chain Smart Contracts
Cross-chain smart contracts are applications made up of multiple smart contracts deployed across multiple blockchain networks, creating a single decentralized application.
Cross-chain smart contracts are decentralized applications that are composed of multiple different smart contracts deployed across multiple different blockchain networks that interoperate to create a single unified application. This new design paradigm is a key step in the evolution of the multi-chain ecosystem and has the potential to create entirely new categories of smart contract use cases that leverage the unique benefits of different blockchains.
High demand for Ethereum smart contracts has led to an increase in network transaction fees over time. This has increased adoption of smart contracts and higher DeFi TVL on alternative blockchains. Smart contracts are deployed across multiple chains for a larger user base.
Multichain Challenges
Lack of interoperability between blockchains
isolated liquidity on blockchains
dealing with multiple U/I
token bridges vulnerable to hacks and not fully compataible
Cross Chain Use Cases
Cross chain exchange
Cross chain yield aggregation
Cross chain lending
Cross-Chain DAOs and NFTs
Secure Cross Chain Interoperability on Vingt.io Ecosystem
Vast majority of blockchain networks are unable to directly send and receive data between different blockchain networks. In order to support cross-chain smart contracts, additional infrastructure is required to enable cross-chain communication.
Blockchain bridges have so far largely focused on the transfer of tokens between networks, often with assets from one chain wrapped onto another. However, cross-chain smart contracts require more generalized bridges to support the transfer of arbitrary data packets, tokens, and commands. Such infrastructure must also be highly secure, reliable, and based on an audited codebase so messages are transmitted without corruption, received in a timely manner, and protected against external conditions such as blockchain reorgs. Vingt.io's off-chain node operator network (also connected to SCAP) would be used for secure blockchain interoperability which is currently under development.
In comparison to traditional cross-chain bridges, Vingt.io aims to enable smart contracts to send both data and/or tokens across any blockchain in a secure manner. Data messages can be encoded/decoded by smart contracts in any manner, supporting a wide degree of flexibility in how they are interpreted.
In addition to a high-quality codebase, this protocol is planned to be further secured through an innovative risk management system called the Anti-Fraud Network. The Anti-Fraud Network is composed of independent committees of nodes, separate from those of facilitating the cross chain transition, with the sole purpose of malicious activity and blockchain network conditions. This additional verification layer can initiate the emergency shutdown of bridges, which pause the transfer of data and tokens temporarily to help protect cross-chain smart contracts and users against potential black swan events.
In addition to providing the infrastructure for creating cross-chain smart contracts, Vingt.io would also support the creation of various cross-chain token bridges, allowing users to directly bridge their tokens to different blockchains alongside commands on how to deploy such tokens.
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