uniswap coin price chart

Expand this team from 1-2 people to 24 people

Unlock new feature use cases for users and developersBridging gives users and developers more choices. like:

Arbitrage the price of SUSHI across DEX on Optimism, Arbitrum and PolygonUse Bitcoin to pay for Arweave storage feesBid NFT on Tezos with PartyBidFrom an abstract perspective, a bridge can be defined as follows: a system that transmits information between two or more blockchains. And "information" can refer to assets, contract calls, proofs, or status. Most bridge designs consist of the following parts:Monitoring: There is usually a participant (or a "oracle", "verifier", "relayer") monitoring the status of the source chain.

Message delivery/relay: After the participants receive the event, they need to transfer information from the source chain to the target chain.Consensus: In some models, in order to forward information to the target chain, a consensus must be reached between participants monitoring the source chain.XCMP allows messages to be sent between parachains.

XCM can be used to express the meaning of messages through any one of these three communication channels.In addition to sending messages between chains, XCM is also useful in other contexts. For example, because XCM is abstract and universal, it can be used as a means for wallets to provide a durable transaction format for creating many common transactions. For chains with little business logic changes (such as Bitcoin), the transaction format or the format used by the wallet to send instructions to the chain will generally remain the same.XCM aims to be a language for the exchange of ideas between consensus systems. It should be generic enough to remain correct and useful throughout the evolving ecosystem. It is extensible, and extensibility means changeable, and it also means forward compatibility. It can run efficiently on the chain and can run in a metering environment.XCM can be used in a variety of systems, including gas metering smart contract platforms and community parachains, and trusted interactions between system parachains and their relay chains.

Although the goal of XCM is universal, flexible and future-oriented, it must of course meet actual needs, especially the transfer of tokens between chains. Throughout the DeFi world, optional fee payment is very common. You can use the XCM language to perform some specific operations.Importantly, there are many token transfer models that we hope to support: it may only be necessary to simply control the account on the remote chain, allowing the local chain to have an address on the remote chain to receive funds and ultimately transfer the funds under its control to that remote In other accounts on the chain.

But there may be two consensus systems in this process, both of which are specific token systems. For example, tokens such as USDT or USDC have instances on several different chains and are completely interchangeable. It should be possible to destroy such tokens on one chain and mint corresponding tokens on another supported chain. In XCM, it can be called teleport, because the transfer of assets is actually achieved by destroying it on one side and creating a clone on the other side.The core of the XCM format is XCVM. This stands for cross-consensus virtual machine. This is an ultra-high-level non-Turing complete computer whose instructions are designed to be roughly at the same level as transactions.The "message" in XCM is actually just a program running on XCVM. It is one or more XCM commands. The program will continue to execute, and will not end and stop until it runs to the end or encounters an error.The position in XCM is hierarchical, and some parts of the consensus are completely encapsulated into separate parts. For example, the Parachain of Polkadot completely exists in the internal position of the entire Polkadot consensus. As long as there is any change in one consensus system, it means a change in another consensus system, and the former system is the internal system of the latter.

When working in XCM, it is usually necessary to quote some kind of asset. This is because almost all existing public blockchains rely on some native digital assets to provide the backbone for their internal economic and security mechanisms. For proof-of-work blockchains such as Bitcoin, native assets (BTC) are used to reward miners who develop the blockchain and prevent double spending. For proof-of-stake blockchains such as Polkadot, native assets (DOT) are used as a form of collateral, and network administrators (called equity holders) must take risks to generate valid blocks and obtain physical rewards.Expense payment in XCM is a very important use case. Most parachains in the Polkadot community will require their interlocutors to pay for any operations they wish to perform to avoid "spam" and DDOS.When chains have good reasons to believe that their interlocutors are trustworthy, they can also not pay. For example, this is the case when the Polkadot relay chain communicates with the Polkadot Statemint public interest chain. However, in general, fees are a good way to ensure that XCM messages and their transmission protocols will not be overused.Let's take a look at how to pay when XCM messages arrive at Polkadot.

For systems that do need to pay a certain fee, XCM provides the ability to use assets to purchase execution resources. In a nutshell, this includes three parts:Provide some assets

如出一辙网

Exchange assets in terms of computing time (weight in Substrate).XCM follows the instructions

After years of research and development, we finally formed a multi-chain market structure. There are currently more than 100 active public blockchains, many of which have their own unique applications, users, geographic distribution, security models, and design trade-offs. Regardless of what individual communities believe, the reality is that the universe tends to increase entropy, and the number of these networks is likely to continue to increase in the future.This type of market structure makes it necessary for us to obtain interoperability between different networks. Many developers have realized this, and the number of blockchain bridges surged last year, aiming to bring together increasingly fragmented networks. As of this writing, there have been more than 40 different bridging projects.Interoperability unlocks innovation possibilitiesWith the development of a single ecosystem, they will develop their own unique advantages: stronger security, greater throughput, cheaper transaction fees, better privacy, specific resource supply (such as storage, computing, bandwidth), and Regional developer and user communities, etc. Bridges are important because they allow users to access new platforms and protocols; enable interoperability between protocols; allow developers to collaborate to build new products, and so on. More specifically, they have the following benefits:Improve the productivity and utility of existing crypto assetsBridging allows existing encrypted assets to be transferred to a new platform to do new things. like:

Send DAI to Terra to buy synthetic assets on Mirror, or earn revenue on AnchorSend TopShot from Flow to Ethereum as collateral for NFTfi

Use DOT and ATOM as collateral to lend DAI on MakerExpand the product features of existing agreements

Bridging expands the design space that the protocol can implement. E.g:Use Yearn vaults for liquid mining on Solana and Avalanche

NFT cross-chain sharing order book on Ethereum and Flow on Rarible ProtocolIndex Coop's proof of equity indexUnlock new feature use cases for users and developersBridging gives users and developers more choices. like:

Arbitrage the price of SUSHI across DEX on Optimism, Arbitrum and PolygonUse Bitcoin to pay for Arweave storage fees

Bid NFT on Tezos with PartyBidFrom an abstract perspective, a bridge can be defined as follows: a system that transmits information between two or more blockchains. And "information" can refer to assets, contract calls, proofs, or status. Most bridge designs consist of the following parts:

Monitoring: There is usually a participant (or a "oracle", "verifier", "relayer") monitoring the status of the source chain.Message delivery/relay: After the participants receive the event, they need to transfer information from the source chain to the target chain.

Consensus: In some models, in order to forward information to the target chain, a consensus must be reached between participants monitoring the source chain.Signature: Participants need to encrypt and sign the information sent to the target chain, which can be single-signatured or as part of a threshold signature scheme.There are roughly four types of bridging schemes, each of which has its advantages and disadvantages:Asset-specific: The sole purpose of this bridge type is to provide access to specific assets on external chains. These assets are usually "wrapped" assets (assets that are fully mortgaged by the underlying assets in custody or non-custody). Bitcoin is the most common asset bridged to other chains, and there are seven different bridges on Ethereum alone. This kind of bridging is the easiest to achieve, and obtain huge liquidity from it. But its functions are limited and need to be re-implemented on each target chain. Examples are wBTC and wrapped Arweave.

Chain-specific: A bridge between two chains, which usually supports the locking and unlocking of tokens on the source chain and the casting of arbitrary encapsulated assets on the target chain. Due to the limited complexity of these bridges, they can usually be marketed faster, but they are not easy to expand into the broader ecosystem. The use case is Polygon’s PoS bridge, which allows users to transfer assets from Ethereum to Polygon and vice versa, but only on these two chains.Application-specific: An application that provides access to two or more blockchains, but only for use in that application. The advantage of this kind of application itself is that the code base is small; instead of having a separate instance of the entire application on each blockchain, there are usually more lightweight and modular on each blockchain "Adapter". A blockchain that implements an "adapter" can access all other blockchains it is connected to, so there is a network effect. Their disadvantage is that it is difficult to extend this function to other applications (for example, from lending applications to transaction applications). Specific use cases are Compound Chain and Thorchain, which respectively build independent blockchains dedicated to cross-chain lending and transactions.

Generalized: A protocol designed to transmit information across multiple blockchains. Due to its low complexity, this design enjoys a strong network effect-a single integration of the project allows it to access the entire ecosystem within the bridge. The disadvantage is that some designs usually trade-off between security and decentralization to achieve this scalability effect. This may have complex and unexpected consequences for the ecosystem. One of the use cases is IBC, which is used to send information in two heterogeneous chains (with a guarantee of finality).In addition, according to the mechanism used to verify cross-chain transactions, there are roughly three types of bridge designs:

Type 1: External validators & Federations (External validators & Federations)This type of bridging scheme usually has a group of verifiers that monitor the "mailbox" addresses on the source chain and perform operations on the target chain based on consensus. Asset transfer usually works like this: lock assets on the "mailbox", and then mint the same amount of assets on the target chain. These validators usually deposit separate tokens as collateral to ensure the security of the network.

Both Sides of the Table

Perspectives of a 2x entrepreneur turned VC at @UpfrontVC#

Mark Suster

Written by

2x entrepreneur. Sold both companies (last to salesforce.com). Turned VC looking to invest in passionate entrepreneurs 〞 I*m on Twitter at @msuster

Both Sides of the Table

Perspectives of a 2x entrepreneur turned VC at @UpfrontVC, the largest and most active early-stage fund in Southern California. Snapchat: msuster

Mark Suster

Written by

2x entrepreneur. Sold both companies (last to salesforce.com). Turned VC looking to invest in passionate entrepreneurs 〞 I*m on Twitter at @msuster

Both Sides of the Table

Perspectives of a 2x entrepreneur turned VC at @UpfrontVC, the largest and most active early-stage fund in Southern California. Snapchat: msuster