Cross-Blockchain Integration. Roadmap
We would like to share some of what we are planning to build, specifically how non-fungible tokens (NFTs) will interact with the Altair Blockchain, and, how the Altair Blockchain Bridge Service will enable any NFT to be traded on a variety of blockchains. To facilitate these cross-blockchain trades, Altair will airdrop blockchain-specific Altair Tokens to holders of ALAR Tokens so that the NFTs can be traded between multiple blockchains.
How does Altair cross-blockchain integration will work?
Say you have an NFT, which is a cryptographically unique asset that can’t be replaced by another similar asset, that you want to trade. We’ll use a CryptoKitty as an example. Your CryptoKitty exists on the Ethereum blockchain, but you want to trade it on the EOS blockchain instead because it’s faster and cheaper.
To do this, you will trade your CryptoKitty to a ALAR-ETH address, where Altair will lock up the item into a smart contract so that it cannot be traded on the Ethereum blockchain anymore. It will then be sent to the Altair Blockchain. To execute this transaction, you’ll pay a small fee in the form of ALAR-ETH tokens.
Now, the item is tradable on the Altair Blockchain, or you can choose to move it to the EOS (or other) blockchain. To execute this transaction, you’ll pay a small fee in the form of ALTAIR-EOS. If you wish to move it off the EOS blockchain, you’ll move it back to the Altair Blockchain and then trade it as desired.
How does Altair cross-blockchain integration benefit the ALAR ecosystem?
The above benefits the Altair ecosystem because it:
- Enables the interoperability of NFTs between different blockchains, allowing NFT traders to choose their preferred blockchain when trading NFTs
- Enhances the use case and provides additional utility for ALAR Tokens because fees are paid in a version of ALAR each time an NFT transfers from one blockchain to another
- Gives ALAR Token holders airdrops of blockchain-specific tokens
You can see how the Altair ecosystem will begin taking shape as we will work on development of the Altair Blockchain and protocol token.
Additionally we wanted to share a vision of our roadmap. This is what our community can expect in coming months