Trapped in a never-ending cycle of siloed blockchain networks, we're missing out on blockchain technology's true power and potential.
✦ zkRouter, a Trustless, General-Purpose cross-chain Infrastructure based on the Zero Knowledge Proof #ZKP
By @MultichainOrg
🧵 Sneak Peak
1. Background
Cross-chain communication is the key to unlocking the full potential of blockchain technology and enabling the next generation of the internet, where value and data can flow freely across different networks and platforms.
Siloed blockchain networks are the problem DeFi is facing. Satoshi, in his whitepaper, explained how “walled gardens” limit the potential of the internet by segregating users and their data.
That same concept can be applied to blockchains, as each is isolated from the other
He criticized these systems for being closed off and controlled by a small group of intermediaries.
He argued that a decentralized, peer-to-peer system like Bitcoin would break down these walls and allow for greater access and innovation.
In the context of blockchain, walled gardens refer to the segregation of different blockchain networks, which restrict the flow of value and information between them, limiting the potential for innovation and growth.
Bridges were created to solve this issue.
However, as bridges become the main point of transfer between mega blockchains, they, too, become a central point of vulnerability and a target for hackers.
🌉 50% of all funds lost in 2022 came from exploded bridges!
The root cause for this latest bridge security problem may be “improper trust mechanisms”. Inappropriate trust assumptions go against the decentralized nature of the blockchain.
2. Introduction to Zkrouter & Multichain
ZkRouter enjoys the following advantages:
- Non-trust mechanisms
- Light on-chain computing
- Low latency
- No asset mortgage.
Especially it’s important in the current background, so many security problems have caused huge asset losses.
In particular, zkRouter uses zk to validate the source chain's consensus mechanism, and the proof is checked without trust in the contract on the destination chain.
The main challenge in cross-chain transfers, allegedly, is to securely and reliably transfer the consensus state in a decentralized manner.
Current solutions rely on specific trust facilities, which only partially achieve decentralization and introduce certain vulnerabilities
Recent attacks on cross-chain bridges have highlighted the need for secure cross-chain solutions. A new solution that has been introduced is zkRouter. By @MultichainOrg
Multichain is a leading provider of a cross-chain bridge and general message cross-chain services and has successfully connected 81 public chains with over 800,000 users.
They have succeeded greatly with products such as Router, anyCall and NFT Router.
zkRouter utilizes ZKP technology to securely and efficiently connect multiple blockchain networks and achieve seamless interoperability.
This innovation is extremely valuable for cross-chain interoperability as it allows for transferring assets and information between different blockchains in a trustless, secure and privacy-friendly manner without revealing sensitive information.
Most cross-chain bridges still rely on centralized mechanisms to transmit cross-chain information.
ZKP can eliminate this need for trust, which is why Multichain is using this mechanism to build a new generation of cross-chain interoperability protocols.
The rest of the article is published over at Medium.
Read it here and consider giving me a follow!
medium.com/@CryptoBlooom/will-multichains-zkrouter-solve-the-entire-blockchain-interoperability-dilemma-672349fcbde8