Cross-chain Bridge Planting Grass Collection: How can I make my assets flow across the chain.

Recently, the hot high APY mining on Fantom has caused many DeFi farmers who are pursuing high returns to cross-chain to dig gold. Although a large number of users report that cross-chain takes a long time and the operation is stuck, it still does not affect its popularity. Its official said that the current total transaction volume has exceeded 10 million. Starting from DeFi, which currently has the most users, according to the statistics of DeFi Llama, the locked-up volume of DeFi on Ethereum has exceeded 100 billion US dollars, and other public chains such as BSC, Solana, and Avalanche have also attracted 49 billion US dollars of funds. Ignored again. Although the capital of many public chains has reached a considerable scale, different chains are like isolated islands, and assets on different chains cannot be exchanged freely. In addition, many emerging public chains still lack a lot of infrastructure, such as stable coins, which are not as strong as Tether and Circle. There is no native stablecoin backed by fiat currency issued by a powerful centralized institution, and there is no decentralized stablecoin such as DAI, which uses ETH and other cryptocurrencies with relatively small price fluctuations as collateral, and is issued through over-collateralization. Therefore, it is necessary to introduce assets on other chains into its own public chain through cross-chain. In the current commonly used cross-chain methods, in addition to centralized institutions such as cross-chain withdrawals in exchange wallets, the most common ones are various detoxification methods. Centralized cross-chain asset bridge. A cross-chain bridge is a connection method that transfers tokens or data between blockchains. Two chains can have different protocols, rules and governance models. A cross-chain bridge provides a compatible way to secure between the two to interoperate. Cross-chain bridge Wormhole has supported Moonbeam Network: According to official news, cross-chain bridge Wormhole announced that it has supported Moonbeam Network. [2022/9/23 7:16:21] How can two independent blockchains know what is happening on the other chain? This is actually an oracle problem. The simplest solution at present is to let multiple nodes monitor the contract event on the blockchain at the same time. When the majority of nodes agree that they have seen the event, it can be considered that the nodes have reached a consensus and trigger the next step in the sequence. an event. According to the method of reaching consensus and whether hosting is required, cross-chain bridges can be divided into the following categories. Custody + centralization (such as centralized exchange cross-chain, WBTC, etc.) custody + POA (proof of authority) custody + PoS (proof of equity) (Matic, xDAI) custody + MPC (multi-party computing) (Thorchain, Anyswap) non-custodial + The cross-chain bridge of the MPC (Multichain) centralized exchange is the most convenient for users to use, but there may also be a single point of failure. Most cross-chain bridges host user assets. How to reach a consensus is also very important for cross-chain bridges, which is related to the security of managed assets. The current cross-chain is also gradually developing in the direction of non-custodial. Multi-chain tokens To use assets on another chain on one chain, you must have the same asset on both chains to form a multi-chain token. When new assets are generated on the target chain, the assets on the old chain can be directly destroyed or pledged in a specific contract. The implementation of each multi-chain token can be based on any of the above-mentioned custody and consensus mechanisms. Andre Cronje, founder of yearn.finance, divides multi-chain tokens into the following four types. The following takes the cross-chain transfer of assets on Ethereum to Fantom as an example. The Horizon cross-chain bridge attacker’s address has just transferred 18,036 ETH: According to news on June 27, the data on the chain shows that the address marked as the Horizon cross-chain bridge attacker was transferred to the wallet address starting with 0x1ec6f8 at 15:10 Beijing time. 18036 ETH. According to previous news, on June 24, Horizon, the cross-chain bridge between Ethereum and Harmony, was attacked, causing a loss of about 100 million US dollars. The Harmony team sent an on-chain negotiating request to the Horizon Bridge attacker, which went unanswered. The DeFi hacker identification and incentive protocol Lossless Protocol has successfully prevented the theft of 78 million AGG tokens in the Harmony cross-chain bridge Horizon attack event. [2022/6/27 1:33:48] Balance floating If you want to bridge the tokens from Ethereum to the Fantom network, first the tokens on Ethereum will be locked, and then notify the bridge, and the corresponding tokens on Fantom will be Tokens are transferred to the recipient. The bridge contains tokens with the largest supply, and the user's use process does not involve the minting and destruction of tokens. Minting/Destroying If this method is adopted, when tokens are destroyed on Ethereum, the corresponding tokens will be minted on Fantom. Likewise, when burning on Fantom, new tokens are minted on Ethereum. Liquidity swap Literally, liquidity and intermediate tokens are required. If you convert USDC (Ethereum) to USDC (Fantom) in anyswap, you need to have the liquidity of USDC (Fantom) and anyUSDC on Fantom. USDC (Ethereum) is first converted to anyUSDC (Fantom), and then converted to USDC (Fantom). The whole process does not require custody of user assets, only liquidity needs to be provided. The DeFi option protocol Lyra announced the integration of the cross-chain bridge HopProtocol: On February 24, the DeFi option protocol Lyra announced that it has integrated the cross-chain bridge HopProtocol into the Lyra trading dApp. Now users can transfer ETH from the Ethereum mainnet to the dApp in the dApp. Optimism. Lyra said that it will continue to integrate with Hop, support the bridge with other L2 such as Arbitrum and Polygon as soon as possible, and realize the bridge of Stablecoin. [2022/2/24 10:13:05] Packaging + minting/destroying This is the combination of the second and third cross-chain methods. Still the same example, first pledge USDC to get anyUSDC, destroy anyUSDC (Ethereum) and mint anyUSDC (Fantom), and then exchange anyUSDC (Fantom) for USDC (Fantom) through the liquidity pool. Multichain.xyz (Anyswap) Multichain.xyz is mainly aimed at the cross-chain between platforms that support the Ethereum Virtual Machine (EVM). It was jointly developed by Andre Cronje, the founder of yearn.finance, and the Anyswap team based on the Anyswap SMPC Network. It is currently the most widely used A multi-chain cross-chain platform. Compared with other platforms, the biggest advantage of Multichain.xyz is that it supports developers to deploy their own cross-chain tokens. DCTDAO builds a cross-chain bridge between Polygon and Avalanche to connect tokens and NFT: On September 20th, the DCTDAO engineer team is building a cross-chain bridge between Polygon and Avalanche to connect tokens and NFT, so that projects on the two chains can Leverage each other's ecosystem and technology strengths. Additionally, shortly DCTDEX users will also be able to exchange new potential liquidity on DCTEX on the Polygon blockchain. This arrangement further promotes the possibility of cross-cooperation among Polygon, Avalanche and DCTDAO projects. DCTDAO is the creator of the first Gas-less Quantum Proof cross-chain DEX, which runs on DCore, Polkadot, Moonbeam and Avalanche, and is renamed DCTDEX. In the current version, DCTDAO already has an operational cross-chain bridge from Ethereum to Avalanche, and the bridge fee is only $2. [2021/9/20 23:37:35] As of May 13, Multichain.xyz has supported the cross-chain of 263 tokens in ten blockchains, and the network security is maintained by 30 nodes, of which 535 million US dollars funds. Multichain.xyz has wide compatibility and is likely to develop into the most widely used cross-chain bridge, where developers have full autonomy and anyone can define their own cross-chain tokens. The Ethereum cross-chain bridge Secret Ethereum Bridge provides privacy for ERC-20 tokens: The privacy public chain Secret Network now provides privacy functions for the Ethereum blockchain and 14 ERC-20 tokens. According to an official blog post, Secret Network has launched its Secret Ethereum Bridge on mainnet, designed to allow Ethereum (ETH) and all ERC-20 token holders to create programmable versions of assets with privacy features. Secret Network also stated that it plans to launch Bridge mining rewards starting in January. Crypto users can earn SCRT tokens by locking assets on Secret Ethereum Bridge. (Cointelegraph)[2020/12/16 15:20:14] However, the cross-chain of Multichain.xyz usually cannot independently form the general assets on the target chain. AnyUSDC (Fantom) in the above example will also be replaced by Fantom in the liquidity pool On the more general USDC (Fantom). Only in this way can cross-chain without custody be realized. RenBridge RenBridge is mainly used for cross-chain between traditional public chains such as BTC and smart contract platforms such as Ethereum and BSC. The cross-chain of Ren Protocol mainly consists of two parts, RenVM for developers and RenBridge for users. RenVM is a decentralized hosting platform based on secure multi-party computing. Miners who maintain RenVM are called dark nodes. Developers can choose to integrate RenVM to support their cross-chain assets. Users can directly cross-chain native assets such as BTC to the smart contract platform through RenBridge, thereby releasing the liquidity of assets between blockchains. RenBTC is also the most widely used BTC-anchored currency issued in a decentralized manner, with a total of 11,690 coins currently issued on Ethereum. At present, RenBridge can only realize the cross-chain transfer of four public chain assets, BTC, BCH, DOGE, and ZEC, to Ethereum and BSC. Relatively speaking, the development cost of RenBridge cross-chain is higher, because nodes need to pledge REN tokens, and the scale of cross-chain assets is also limited by the market value of REN. Poly NetworkPoly Network is not limited to cross-chain assets, it can not only realize the cross-chain of homogeneous and non-homogeneous tokens (NFT), but also realize the cross-chain of any information between heterogeneous chains, and maximize the improvement of the blockchain Value transfer capability and scope of application. For example, in mortgage lending, the security of users' debt positions can be guaranteed through cross-chain deposits. By adopting cross-chain technology, projects on Ethereum can lock assets and send deposit messages to the Ethereum chain without redeveloping on the new chain. The smart contract on Ethereum will verify the legitimacy of the message, so as to achieve cross-chain chain mortgage. Currently, PolyBridge already supports the cross-chain of 44 assets on public chains such as Ethereum, BSC, Heco, Neo, and Ontology. PolyBridge can directly realize the direct cross-chain between assets on BSC and Heco, while Multichain.xyz usually requires Ethereum for transfer. The asset cross-chain protocol developed by ShuttleFlow Conflux, combined with Conflux ecological participants, such as wallets, custodians, decentralized trading platforms, etc., forms a cross-chain asset custody alliance, and completes cross-chain asset mapping with 2/3 multi-signature. ShuttleFlow uses the Conflux chain as a relay bridge to achieve flexible cross-chain between multiple chains. For example, to cross-chain ETH to BSC, you must first cross-chain ETH to Conflux, and then cross-chain from Conflux to BSC. In addition to these general-purpose cross-chain bridges, there are also some designed for specific asset cross-chains. Binance Bridge: It can be used without registering a Binance account, mainly to introduce assets into Binance Chain and Binance Smart Chain, and supports cross-chain assets such as BTC, ETH, BCH, DOT, FIL, ATOM, and ADA. xPollinate: Supports the mutual transfer of funds on the three chains of Polygon, BSC, and xDAI, and can transfer assets supported by BSC to Polygon and xDAI. Popsicle: Cooperating with Andre Cronje, the founder of YFI (yearn.finance) and the Tether team, launched the first wrapped (Wrapped) version of fUSDT, which is the first and only Tether official cross-chain USDT. Dex self-built cross-chain bridge: Mdex is the largest project on Heco, and its assets can rely on the centralized cross-chain support of Huobi Exchange. Established its own cross-chain bridge, currently only FEI, TRIBE, and SHIB can be cross-chained from Ethereum to BSC and Heco. Public chain project parties build their own cross-chain bridges: Some projects will be issued to one chain when tokens are issued, and then gradually transferred to other chains according to demand. For example, Harmony (ONE), at the beginning, the tokens were issued on the Binance chain, and then a cross-chain bridge from BEP2 to ERC20 was established for ONE. Conclusion The performance growth of the old blockchain cannot keep up with the expansion of scale, and it will take a long time for the new chain to re-establish a sound ecology. The cross-chain bridge can just solve these problems. With the maturity of blockchain technology, various forms of cross-chain bridges have been running between blockchains to solve interoperability problems between blockchains. Among the existing cross-chain bridges, Multichain, which has better compatibility and autonomy, is currently in the leading position. Multichain is actually a combination of cross-chain and AMM, and also reflects the composability of DeFi.

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