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Wednesday, December 08, 2021

Communicating Blockchains

Intriguing statement and challenge, following up.

 An illustration of fragmented blockchains. How Can We Get Blockchains to Talk to Each Other?

IEEE Spectrum, Edd Gent, December 3, 2021

Stefan Schulte and colleagues at Austria's Vienna University of Technology are exploring communication between blockchains. The researchers developed a potential solution that relies on blockchain relays, smart contracts operating on one blockchain that can confirm events on another. The researchers have come up with an on-demand verification system, in which the relay assumes transactions between blockchains are valid unless they are disputed. Fraudulent submissions are discouraged because third parties must offer a cryptocurrency stake to participate, which disputants can seize if they prove invalidity. ... '

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