OpenSwap Troll Talks: Chapter #9 — Primary Chain
Closing into the end of the year 2021, we have finally arrived at the last chapter of Troll Talk. Through the many chapters, we have reviewed and discussed in-depth of how each core concept plays an important role in the OpenSwap ecosystem, as well as how the concept of Bridge Trolls ties everything together at the core of the Open Interchain Protocol.
As most of our community members may already be familiar with, Bridge Trolls acts as node validators for OpenSwap’s single asset cross-chain bridge, and they are tasked with the responsibility of monitoring the protocol for transaction requests as well as verifying and signing transactions to carry out the withdrawal of funds on different blockchains as the project progresses to extending to other EVM compatible chains.
The Core Concept of Primary Chain ⛓
As Bruce indicated in the many past AMAs and community events, one of the core components to OpenSwap’s end game is the cross-chain bridge. New chains are emerging in this space all the time, and OpenSwap will continue to work towards spearheading these transitions, and to do that — our bridging mechanism would need to be easily extendable and highly adaptable to new chains.
The Open Interchain Protocol is designed to be easily extendable by simply replicating the smart contracts on new EVM compatible chains. Additional chains can be quickly added to Open Interchain Protocol by deploying the set of contracts on new chains.
However, there are certain functionalities that only need to be done once (for example the registration of a troll), and thus the concept of a ‘Primary Chain’ is established. During the initial phase, a specific blockchain will be selected as the ‘Primary Chain’ meaning that for certain features, that chain’s contract will behave as the master, and the other secondary chains will serve as “replicates”. And as our early supporters would already be aware, the initial primary chain will be defined as the Binance Smart Chain (BSC), however, as a community-driven project, this can be transitioned if the bridge community chooses to.
Troll Thoughts — Compatible Competition 💭
New chains emerge in the market all the time. In the past two years, we have already seen a buffet of new chains introduced to the DeFi space, and the OpenSwap team predicts that this will likely remain as the norm for the foreseeable future (or at least till Ethereum 2.0). For a DApp project to retain relevance in the rapid and ever-changing crypto space, having the enablement of simple and quick adoption to new chains is definitely one of the keys to success.
OpenSwap is a community-driven project, with Bruce and the team being all ears to constructive suggestions. As we continue to focus on BUIDLing, there could be moments where the core team would miss the news or industry updates, this is where the community would need to play their part. If there are chains where community members feel like OpenSwap should look at, be sure to ping the team in our official community!
OpenSwap is the world’s first DEX providing on-chain swaps at zero slippage and multi-chain arbitrage opportunities. As the DeFi universe continues to expand, liquidity becomes increasingly scattered across multiple chains and the situation is poised to get worse as new chains emerge with individual DEXs on each chain. The OpenSwap team has been working for the past several months on building up a vision of a comprehensive one-stop DeFi hub that offers the best on-chain pricing, multi-chain arbitrage, and zero slippage, allowing users to experience revolutionary benefits through optimizing their trades through unique features such as Liquidity Queues, Hybrid Smart Router, and Open Interchain Protocol.