Bitcoin Global News (BGN)
June 06, 2018 -- ADVFN Crypto NewsWire -- The Blocknet protocol has finally released its
“blockchain router.” This device is a fundamental component for the
inter-blockchain system that the organization is developing to
foster the future of decentralized internet services.
Dapps, smart contracts, and
protocols will increasingly utilize services on other blockchains.
This will reduce the time taken to re-create a service that another
blockchain is already providing. The Blocknet supports this
development by enabling the technologies on any blockchain to
become available via decentralized APIs, creating a paradigm shift
from monolithic architecture to microservice
architecture.
XRouter
The device is an inter-blockchain
SPV client (a light wallet), which enables verification of
blockchain records from any blockchain without requiring users to
download the blockchain in question, in theory. This provides the
ability for lightweight dapps to harness contracts and protocols
from other blockchains. A seamless connection of blockchain lays
the foundation for the decentralization of the API
ecosystem.
Verify records on any
blockchain
Blockchains tend to be large. For
example downloading all of Bitcoin’s blockchain is well over 100GB
in size. Only a small population of users have the capacity to
download and maintain a blockchain on their PC’s, let alone on
mobile devices. This is one of the major barriers to widespread
adoption.
In the original Bitcoin whitepaper,
Satoshi Nakomoto describes “simplified payment verification,” or
“SPV,” by which a dapp may understand the record on a blockchain
using only the transaction of interest, a merkle branch, and the
block headers. This download would only be about 1/500th of the
size of a blockchain. The result is wallets that can be
mobile-friendly, fast to set up, and vastly reduce the burden upon
users of maintaining an entire blockchain.
Blocknet
Ecosystem
An SPV wallet on its own does not
enable the inter-chain verification of blockchain records. The
operation needs an inter-chain peer-to-peer network for nodes on
different blockchains to communicate, and a community of users
running nodes on very many blockchains in order to achieve workable
liveness.
In combination with the new
XRouter, the Blocknet provides both: XBridge is an inter-chain
network overlay that holds the Service Nodes required to support
SPV proofs for an arbitrary number of blockchains.
By: BGN Editorial Staff
News:
Blocknet
(BLOCK)
Blockchain
Router
XRouter
Blockchain