An Introduction to Asch Chain Interoperate Protocol

Last month Asch released the chain interoperate protocol, with which Bitcoin can transfer to Asch chain and be used in different DApps. So how is this protocol complemented?

Asch’s chain interoperate protocol is a two-way peg protocol based on multisig federation. There are two kinds of accounts on the Asch chain: normal user accounts and gateway accounts. It is the gateway accounts who handles different kinds of transactions between Asch chain and Bitcoin Network. Every transaction can be checked by the user on the blockchain explorer.

How is the gateway generated? Asch has a new function in next version, which anyone can issue a new proposal. For example, a token holder can issue a “Bitcoin gateway initialization” proposal. This proposal contains 5 or 7 bitcoin addresses, which will generate a multisig address. This multisig address is the gateway address. Every token holder then will vote to this proposal based on the DPoS consensus algorithm.

What’s the benefit of this protocol? As a blockchain application platform, there are many DApps running on Asch. Bitcoin can be used in all these DApps. In addition, Asch chain has a 10s confirmation time and 1000+ TPS. Bitcoin could get a significant boost in transfer effectiveness.

Asch will launch this protocol on July to the mainnet. Stay tuned!