Wrapping up at #SmartCon is a keynote presentation is @bencxr of #Chainlink Labs on Cross-Chain Interoperability
Cross-chain is not just token bridges, but cross-chain communication and programmable bridges with instructions
Bottom layer is transport layer powered by OCR 2.0
Next layer is CCIP to send messages to contracts on other chains
Third layer is the application layer
Transport layer of messages
In the naïve approach, each oracle creates their own transactions
Chainlink Labs developed Off-Chain Reporting (OCR)
Off-chain consensus
$30B+ TVL secured
OCR 2.0 generalizes this capability
100s of high quality nodes coming to feeds
Leader is selected at random
Nodes make observations and send back to leader
Leader receives and broadcasts signed observations
nodes decide if report is sent on-chain
Leader received the signed reports
One node is selected to submit on-chain
If they fail, another node is selected
If that node fails, another node is selected and so on
CCIP is an open-standard that any one can build upon to build cross-chain applications
sendToRemoteChain() takes in input
Then DON calls receiveFromRemoteChain() on other chain
Messaging router contract is deployed on each supported chain
Router will choose the best bridge lane
OCR 2.0 protocol reads the events, check conditions, and then transmit to the other chain
Take turns to transmit report to the other chain
With CCIP, smart contracts can communicate with contracts on other chains without dealing with the underlying complexity
Many use cases
Cross-chain collateral (collateral on chain, borrow on another)
NFT bridges (NFT on one chain, play game on another)
Cross-chain yield
Programmable token bridge is a reference developer focused implementation on top of CCIP
Anyone can build their own bridge on CCIP
destination smart contract can receive both tokens and instructions on what to do with those tokens
bridge can move multiple tokens at a time
Move $USDC from Ethereum to Polygon, trade to $MATIC, deposit it into Aave, all in the same transaction
Only possible on CCIP
Security is key
Want to go not just fast, but go far
High quality nodes
Build the largest quorums of oracle nodes
Anti-Fraud Network
Anti Fraud Network is nodes independent of nodes in the CCIP
Sends heartbeat safety messages
Can trigger an immediate pause of bad behavior of any kind
Also pause when there's a long chain fork, or L2 sequencer problems, external to CCIP
If your protocol handle large amounts, you can join the Anti-Fraud Network
Developers will build things at various levels of the stack
Network efforts of multiple blockchains and increased capacity
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.