Live: Cross-chain Technology and Application in Web3 Era Feat. Xu Xiaolong, DREP Co-founder
The Live co-hosted by DREP, Polkadot, LadderNetwork, Gate.io, Web3 Foundation and TuoniaoX.com featuring “Cross-chain Technology and Application in the Web3 Era” has come to an end. Xu Xiaolong, DREP co-founder, joined this event as a guest speaker and share his insights on DREP’s advantages in cross-chain development and its application in real-life scenarios.
Below are the highlights!
Enjoy the read!
Hi, all! Welcome to Live: Cross-chain Technology and Application in Web3 Era.
I’d like to thank the guests and media for your support.
Let’s give a warm welcome to our guests:
Shin Wan Jon, Ladder Co-Founder;
Gautam Dhameja, Parity & Polkadot, Solutions Architect, Co-Author of “Beginning Blockchain”
Xiaolong Xu, DREP Co-Founder
Jiu’er, CPO of Gate.io
In 2019, J.P. Morgan and Facebook have announced their initiatives of launching cryptocurrencies. Blockchain technology is the new hit in multiple industries. We are now entering the web3 era of blockchain. In particular, cross-chain technology is now considered the foundation of web3 era, which gives rise to projects featuring cross-chain technology. We are honoured today to have the leaders of the projects and the CPO of Gate.io to share some insights on this topic.
First of all, please introduce your cross-chain blockchain projects to us.
DREP is committed to building “connectors” and “toolkits” based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. Based on DREP Chain, DREP ID and DREP SDK, DREP aims to build an open data ecosystem on chain, opening up segregated user groups and data silos across multiple chains. The Smart Pipeline proposed by the DREP team is a “pipeline” for data transmission and for transferring data between the blockchain virtual machine and external applications. It is able to achieve high efficiency, zero gas consumption and strong scalability without affecting security. DREP API and Plug-in lowered blockchain learning costs, development difficulty and complexity on the application/enterprise side and have been used in multiple Internet platforms with millions of active users in Australia, Middle East and Southeast Asia.
My second question is: Among all the cross-chain projects in the market, what makes DREP stand out?
DREP main chain and sub-chains are connected by a frictionless isomorphic cross-chain protocol. In DREP ecosystem, cross-chain is based on the needs of users.
So from the very beginning, we strive to provide toolkits and solutions catering to various applications, instead of focusing on the cross-chain technology alone.
For example, our SDK for blockchain gaming is targeted at helping blockchain-based game developers to launch different versions of game based on multiple chains or digital assets.
The DREP SDK consists of three main modules:
- The game account module: The core advantage is that with the cross-chain DREP ID, games are able to connect or attract users across different chains.
- The payment transaction module: The core advantage is that it can greatly optimize digital assets trading experience though built-in payment and transaction engine.
- The data management module: The core advantage is that all the data such as operation and gaming transactions can achieve data visualization, transparency and configurability.
For game developers, the DREP SDK reduces the development threshold for blockchain games built on different engines, allowing them to embed native Internet games into the blockchain architecture more effortlessly. Digital asset wallets and transaction engines can be built directly into the game so that players can use digital assets directly in the game to pay, trade, mortgage, etc., achieving a closed-loop ecosystem.
Through the DREP SDK, developers can incubate all kinds of blockchain games such as the ones with digital asset payment + centralized game, assets on-chain or logic on-chain. In addition, it connects game players in the entire Tuoluo Platform with DREP IDs. Under this technology support, developers can acquire users from both traditional and blockchain spheres and achieve gaming data sharing. More DREP SDK functionalities will be announced and open source.
In addition, DREP public chain is scalable and can process high-TPS. Through Smart Pipeline, when trading assets, users can process transactions off chain and settle payment on chain and it does not require any service fees. In this way, DREP is able to support the transactions of a larger scale and lay a solid foundation for future gaming ecosystem with a large traffic.
The third question is: Which industries do you think will promote the application of blockchain technology driven by cross-chain technology.
Personally, I believe that cross-chain technology should be applied in games and exchanges.
In terms of how to interoperate game assets based on different chains and how to support players on other chains, the solution to which is just what games need.
The nature of cross-chain is a transaction. Cross-chain is like trading a coin with the paper note of the same amount. They are basically the same thing. The transaction is to exchange different kind of assets, which is also a kind of cross-chain, only centralized. Centralized exchanges need to frequently dock and maintain wallets on different chains. This is very troublesome. If assets can be open to the same chain, it will greatly improve the efficiency of the exchange. This also explains why some exchanges going decentralized.
My last question is: Could you please share with us your insights on the trend of blockchain, or cross-chain technology, to be more specific? And what is the next step of your project?
From my perspective, more and more exchanges will launch their own chains which support interoperability of multiple assets. And more projects will provide token-swapping solutions based on respective chains of the exchanges.
The second half of 2019, without doubt, is going to be a prime time for the development of DREP in terms of marketing, tech and ecosystem expansion.
First and foremost, we will continue to build DREP Mainnet, and perform sufficient testing before launching it so as to make sure the Mainnet is well-equipped and stable. At the same time, we will also optimize related facilities like DREP Wallet and DREP Browser to make them more convenient and accessible for users. After that, we will focus on work that related to DREP Mainnet. Other than maintaining, upgrading the Mainnet on a regular basis, we plan to release commercial applications and blockchain games on the Mainnet. In this way, more commercial DAPPs would be developed, thus further achieving brand building objectives for DREP.
As a connector, DREP always lives up to the mission of increasing enterprise blockchain adoption by attracting developers from all walks of life to build blockchain protocols, applications and ecosystems based on DREP Chain. Besides, DREP, as a toolkit, has launched DREP ID, DREP SDK and other applications for partners and fellow developers to utilize. With the support of DREP technologies, developers are capable of customizing their own blockchain services, and further remodelling industries like gaming, finance and supply chain and setting standards for industries accordingly.
Indeed, most exchanges are developing their own main chains. For example, several projects have mapped their tokens onto the Binance Chain. If you’re interested in cross-chain technology, please stay tuned with us for the latest updates of this sharing session.
Thanks for your time! We look forward to realizing interconnectivity of chains in the near future and applying blockchain technologies in more real-life scenarios.
About DREP Foundation
DREP is committed to building “connectors” and “toolkits” based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. Based on DREP Chain, DREP ID and DREP SDK, DApp R&D teams are able to release multi-public-chain asset versions, built-in wallets and asset trading platforms with one-click.