We live in an age of constant change and technological progress. The Blockchain industry is a great illustration of that. Blockchain is about decentralization, and how to foster interoperability better than through cooperation?
Alephium is humbled to join Cardano, Digibyte, Ergo, IOHK, Komodo, Nervos and TopL in the UTXO Alliance to collaborate towards enhancing the interoperability, scalability, and programmability features of the UTXO-based blockchains.
By joining forces with those at the forefront of this technology to engage in shared efforts and initiatives, we can push the envelope for development of critical infrastructure needed to broaden the adoption of blockchain technology.
The UTXO Alliance
The UTXO Alliance is an initiative launched by IOHK, Ergo, Nervos, and Topl to kickstart collaboration with individuals and organizations working to make the UTXO model more scalable, secure, and interoperable.
At the heart of the UTXO Alliance lies a commitment to solving instrumental questions around how data is transferred between different blockchain environments — the amount of data used, the speed with which data is processed, transaction costs, and energy usage. Solving these questions will ensure that anyone can safely share digital assets, such as coins, tokens, data, and smart contracts across different blockchains.
The goal of the UTXO alliance is to drive continuous innovation of the UTXO model in terms of interoperability, scalability (sharding, state channels), and smart contract solutions. Enhancing these solutions and driving key initiatives to build bridges between blockchains powers fair and accessible global finance for everyone. This also establishes a collective effort to enforce the development and functionality of UTXO-based ledgers. To achieve this goal, alliance members have a commitment to grow participation, expand use cases, and both educate and inspire mainstream users.
Alephium & the UTXO Alliance
“The increasingly high demand for scalable and secure dApps, and more specifically DeFi, is a great opportunity for UTXO blockchains. UTXO-based designs will be the new paradigm for DeFi development and the Alliance will play a key role in driving its mass adoption.” — Cheng Wang, Alephium Founder & Core Developer.
The immutability of the UTXO model has been the cornerstone for Alephium to tackle the scalability issue of blockchain. More specifically, Alephium proposes a stateful UTXO model which offers both layer-1 scalability and the same level of programmability as the account model. Alephium also introduces a dedicated VM based on the UTXO model to address DeFi’s security issues and execution bottlenecks.
Romain Pellerin, IOHK CTO adds: “We are thrilled to see another two blockchain ecosystems joining us and the UTXO alliance, which brings us to seven founding members already. DigiByte and Alephium bring both experienced and novel lines of thinking to the alliance. This ensures diversity in the way we identify and attempt to solve common challenges. It will help each member to consolidate their state of the art and design new solutions to the latest challenges, as well as enable synergies towards more scalable, programmable, and interoperable blockchain networks.”
