What Problems Has BDEX Solved in the Cross-Chain of Knowledge Popularization

Time:2019-10-8

This article is quoted from the digital media.

Literally, it’s about connecting different block chains, just like building bridges between two islands. Simply put, cross-chain is the solution to how to transfer Token from one chain to another. From the point of view of bookkeeping, single block chain solves the problem of how to accurately bookkeeping. Cross-chain is to solve the problem of how to accurately account in two distributed books when Token transfer occurs between two accounts controlled by the same user or different users.

Not agreement

In many white papers or technical articles, cross-chains are called “protocols”. Information transmission protocols only need to know exactly how to receive information, and senders need not consider the problem of repeated transmission of information to get feedback.

But in order to synchronize data between books, it is necessary to make sure that the changes of the two books are consistent, otherwise double payment or loss of value will occur.

Due to the rapid development of block chain technology, there are differences in accounting mechanism and consensus mechanism of each chain, and the establishment of a universal cross-chain protocol becomes more complex. Cross-chain “agreements” are more like bilateral and multilateral trade agreements. In the process of implementation, individualization is more obvious, and wide-scale unification is more difficult. Accurate cross-Book bookkeeping of two books needs to be achieved through technical methods.

A mechanism

So far, cross-chain is actually a mechanism. Cross-chain is essentially a set of chain and chain clearing mechanism, and the essence of clearing is accurate accounting.

The most important application scenarios after cross-chain implementation are distributed trading, centralized bidding matching and distributed clearing and settlement mixed mode exchanges and other modes.