What is After Defi- the Rist of Free Cross-chain
Recently, data shows that the current total market value of Defi projects is 13.022 Billion USD. The top five Tokens in market value are LINK (6.101B USD), UMA (733M USD), LEND (700M USD), SNX (690 M USD), and COMP (609M USD).
From June to August, the popularity of Defi has lasted for nearly two months, which is a period of the outbreak. Each new popular project has its own feature, that is, the product can be hyped first, which is completely generation of product. At present, most of the existing Defi products existed before, and there are not enough new interesting projects.
Due to the serious homogeneity of the current Defi projects and insufficient incremental market, it may face a period of cooling down, but Defi may become a normalized development in the future, rather than a short-lived boom, and is a gradually improved foundation for decentralized finance, so the future Defi definitely deserves continued attention.
If DeFi has recently cooled down, what areas are worth paying attention to?
Cross-chain has attracted market attention since last year. The recent spin-off of Polkadot has attracted much attention, making DOT (Pokacoin) one of the top 10 in total market value. Cross-chain is actually huge for the entire blockchain ecology. As early as 2018, the star project Cosmo and now Polkadot all represent the importance of cross-chain. Compared to Defi, cross-chain is the underlying infrastructure of the blockchain. At present, Defi is developing rapidly, and it also needs to be integrated with cross-chain technology. For example, the simplest BTC financial management and lending, in fact, it is necessary to cross Bitcoin to Ethereum, and then go to the Defi platform for financial management or lending behavior. The same, digital assets on other public chains also have cross-chain requirements
Cross-chain can also solve the islanding effect faced by the blockchain. It is difficult to communicate data between various public chains so that data islands are formed. This efficiency is very low, but cross-chain technology can be very good. To connect those, allow data and asset information exchange between different blockchains, and finally form a large digital asset exchange network, which has very high application value.
MAP Cross-chain Protocol
MAP Protocol is an open, fully decentralized chain-to-chain interoperability protocol that can realize the interoperability of multiple independently verifiable consensus blockchains without the need for a relay chain. MAP Protocol expects to build a future inter-chain network that is interoperable and based on chain-to-chain. The ecosystem based on MAP Protocol can provide a solid infrastructure for finance, artificial intelligence, Internet of Things, traceability, and governance provided by cross-chain communication, private computing, shared storage, etc.
One of the biggest highlights of MAP is the cross-chain design. Compared with the two star cross-chain projects (Cosmos and Polkadot), the cross-chain of MAP does not require the so-called relay chain or relay hub.
Characteristics of the Interoperability Protocols
Unlike other cross-chain platforms with many restrictions, the MAP cross-chain agreement is dedicated to creating free inter-chain agreements. The goal of the MAP cross-chain protocol is to establish a large-scale open collaboration infrastructure with a large number of interoperable blockchains to serve various DAPPs. By constructing a free inter-chain protocol to ensure interoperability between chains, each future blockchain can interoperate with other blockchains through this protocol, and each DAPP can be freely selected according to the usage scenario. To configure the basic functions required by it, you can choose one that has a higher degree of dispersion, or a higher scalability or private computing power.
To support these functions, the MAP cross-chain protocol has three key features:
- Simplicity: The protocol does not take up too many network resources and storage resources.
- Reliability: The protocol will ensure the safety of interoperability, that is, the data obtained by any node must be consistent with the data obtained by all nodes in the corresponding chain.
- Universality: The agreement only regulates interoperable modules, and will not add any other requirements, constraints or restrictions to other blockchains in the ecosystem.
While satisfying all these characteristics, the MAP cross-chain protocol includes three core sub-modules.
- Ultra-light local chain verification protocol
- Ultra-light cross-chain verification protocol
- Smart script with combinable trigger conditions
In future articles, we will bring you a deeper interpretation of the underlying design of MAP, so stay tuned.
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· MarcoPolo Protocol WhitePaper, and Roadmap
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