Ink Cross-chain Protocol Achievement |
QRC20-ERC20 Token Cross-chain Transfers are coming soon
The Ink Cross-chain Protocol is one of Ink’s most significant contributions to the blockchain industry. It enables the transfer of value and information between different chains. Thanks to the Ink team’s effort, the Ink Cross-chain Protocol have made a breakthrough, and the cross-chain function will be launched soon. Ink will continue to expand the Ink ecosystem and build the “Globalization” value network.
What is the Ink Cross-chain Protocol?
Ink cross-chain interaction is key to achieving the blockchain value system and connecting the consortium blockchain that is distributed under different infrastructures. Under the Cross-chain Protocol, Ink will connect the consortium blockchain and the trusted public chain, providing interoperability for all the blockchains that have access to it and breaking the “isolated islands”, as well as realizing the exchange of information and value between blockchains.
The Ink Cross-chain Protocol is implemented based on the cross-chain endorsement node on the side of the consortium blockchain/public chain. When the consortium blockchain/public chain initiates the cross-chain transfer, the initiator will need to pass several independent cross-chain endorsement nodes to cross verify the transaction. The cross-chain interaction will be triggered only after the specific endorsed combination has been confirmed. Through the entire cross-chain process, the total Ink token issuance is maintained at one billion, so users can perform the cross-chain transfer based on their demands.
The Ink Cross-chain Protocol is a success on Ink’s technical level. Combined with the advantage of the public chain’s decentralized function, and the nodes authority and trustworthy of the consortium blockchain, it will lay the foundation of a broader global blockchain market for Ink and build a “Glocalized” network.
Ink Cross-chain Interaction Protocols Milestones
In December 2017, the architecture of the Ink Cross-chain Protocol was formed and tested for feasibility of the cross-chain protocols on the public chain side.
From February 2018, Ink officially started product R&D, and performed testing, fixing and debugging: Completed the cross-chain operation manual, the contract development of the consortium blockchain, the construction of the cross-chain transaction verification module, the integration test of cross-chain protocol, and the design of cross-chain SDK. The team also performed the code auditing, optimized the protocol, tested the cross-chain and kept fixing bugs.
After six months, the Ink Cross-chain Protocol finally made breakthroughs, allowing Ink to launch the bi-directional cross-chain transfer of the QRC20-ERC20 and INK&IP token by using the INKchain as the medium.
The Ink team will be opening the formal verification of the cross-chain protocol and conduct the internal testing to ensure the system liquidity and functions.
Meanwhile, the cross-chain transfer of the INK QRC20-ERC20 token will be available soon on various platform. The INK token cross-chain transfer app is also coming soon. Stay tuned for updates of INK and IP token.
Besides the INK cross-chain token transfer app, Ink will continue to launch several cross-chain apps such as the cross-chain interaction in complex scenes and the cross-chain oracle.
The complex scenes of the cross-chain interaction will adapt the appropriate infrastructure for various application functions to meet their need and maximize efficiency.
The cross-chain oracle uses the endorsement mechanism to verify the information between within the blockchain and out of the chain, further enhancing the interoperability of the underlying chain.
The Ink cross-chain interaction protocols will remove the gap between the consortium blockchain and the public chain. It combines the advantages of the consortium blockchain and public chain to create a healthy blockchain ecosystem and incubate more Ink-based applications. Ink will keep expanding the construction of the Ink ecosystem and contribute to the development of the blockchain technology.
In order to provide a more orderly environment for you all to effectively communicate with Ink team and each other, we have created a new English telegram group. Click to join it: https://t.me/ink_en
Official Website：https://ink.one/
White Paper：https://ink.plus/statics/pdf/ink_whitepaper_en.pdf
GitHub：https://github.com/inklabsfoundation
Facebook： https://www.facebook.com/Ink-Labs-Foundation-346197675805778
Twitter：https://twitter.com/inklabsfound
Line(Japanese): http://line.me/ti/g/6XX5AigNmN
Beechat (Korea): https://i.beechat.io/inkkorea
Telegram (Global)： https://t.me/ink_en
