Two Cutting-edge Technology Lectures Reveal the Development Direction of QuarkChain at Jiaotong University
On October 22, the QuarkChain team returned to Shanghai and participated in the Shanghai Jiaotong University Computer Science Global Lunch Lecture. The team also attended a sharing event organized by the Jiaotong University Blockchain Association. QuarkChain core engineer and technical leader Junjia returned to his alma mater to give two technical lectures and at the same time conducted a live broadcast at station B. The speeches were well received and the peak audience number exceeded 1,350. The most important thing is that this technical lecture part revealed the technical plan of QuarkChain’s upcoming bridge.
The topics of the speeches covered both basic and the cutting-edge developments currently happening in blockchain. Junjia first introduced the current developments of the blockchain industry for Bitcoin and Ethereum. He then introduced DeFi and gave specific examples about the design and implementation of automatic market makers, AMM’s, a technology that detonated the DeFi industry upward. However, this DeFi boom brought with it high transaction fees from the Ethereum network which generated Layer 2 and cross-chain requirements. Junjia helped to guide the audience to better understand the design of the current blockchain cross-chain bridge solution and introduced the functional design direction of QuarkChain’s upcoming bridge.
At present, in terms of cross-chain bridge design, various designs can be said to be blooming. At present, it can be roughly divided into four categories: bridging a specific asset, bridging a specific public chain network, bridging a specific application, and general bridging. At present, the mainstream bridges for specific assets or specific chains have developed and are widely used. Although they have a single function, the system is simple and the development is easy (compared to other bridges with complex functions). However, with the satisfaction of basic functions and the increasing prosperity of public chain ecology, a universal bridge that can transfer more resources on the chain at low cost and safely has become a hot development direction for the entire industry.
However, similar to the trilemma of blockchain scalability, there is also a trilemma in the cross-chain field. The existing system design also cannot perfectly satisfy these three conditions:
- Generalized: has functions other than asset transfer
- Trust-less: no middleman and additional trust costs are required
- Extensible: applicable to any chain/VM/smart contract platform.
How to achieve these three conditions has become the core point of cross-chain functional design. This trilemma has become the “Holy Grail” in cross-chain solutions. Whoever can realize it first will become the well-deserved king in this field.
At present, the entire industry is still in the early stages of development, and still few projects are involved in general-purpose cross-chain bridges. If a project can come up with a better solution or even an optimal solution for this trilemma, then this cross-chain system may also have the ability to break through the existing barriers between multiple chains and different network DeFi projects. The tool for the free circulation of resources on each chain has become the ultimate goal of QuarkChain’s cross-chain bridge design.
Many of the core members of QuarkChain graduated from Shanghai Jiaotong University. Coming to Jiaotong University this time is like a trip to the province and feels very cordial. As blockchain technology has attracted more attention by the country repeatedly, more and more people, especially top talents in universities, are more interested in the cutting-edge technology knowledge of blockchain. This is also an opportunity for QuarkChain to return to Jiaotong University for sharing. Because of this, both speeches received good feedback, and the audience also asked many valuable questions. Of course, what is more worthy of attention is that this event has partially lifted the veil of the cross-chain bridge function. What possibilities this function will bring to the industry is worth looking forward to.
In addition, for some design principles of QuarkChain bridge functions, Dr. Zhou has published an article. For details, please see: A set of Optimistic Bridge designs that can be stored and extracted in real time (but limited ratio)