jakiro
Author: Climber, Bitchain Vision Realm
“Mutuality is the future” -Vitalik Buterin.
The nouns such as cross -chain bridge, chain operation, and account abstraction can be attributed to the chain abstract track, and the concept is proposed by Near co -founder.Chain abstraction is to solve interoperability problems such as cross -chain communication, asset -asset transfer, and cross -chain smart contract calls such as universal all -around intelligent contracts.
Recently, the Layerzero airdrop testing of the witch has caused community discussions, and the market focus has once again gathered on the chain operating track.The current projects of this sector are generally more financing and high valuation. This article selects three representative projects: Axlar, Wormhole, and Layerzero as samples to sort out and analyze their latest progress.
one,Axlar network
Based on Messaridefinition, Axlar Network (AXL) is a layer 1 that can achieve cross -chain interoperability between various encrypted ecosystems, that is,Encrypted full coverage networkEssenceAxlar has a set of Gateway smart contracts connecting Axlar network and its interconnected external chain, as well as software development kits (SDK) including developer tools and API.
Axlar not only supports any information/asset bridges, but also supports smart contracts and DAPP across the network, that is, full stack interoperability.
At present, Axlar has connected more than 60 blockchain, including Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism, Polygon, Scroll, and a variety of COSMOS -based chains. This number also leads other cross -chain networks.There are more than 600 interaction, cooperation, and integrated smart contracts, including the lead projects of the Defi, public chain, and two -story track.
Principle of mechanism:
Axlar is a cross -chain interoperability project developed by COSMOS SDK as its main core business.At the technical level, the Axlar network consists of three key components and is distributed in two functional layers.Infrastructure layers include decentralized dynamic verifications networks, responsible for maintaining networks and execution transactions.These verifiedrs run the cross -chain gateway protocol, which is a multi -party encryption coverage layer on the Layer1 block chain.
Secondly, the gateway components are installed on the connected blockchain, existing in the EVM chain in an intelligent contract.The verification person monitor the transaction in the gateway, write data to the gateway of the target chain after reaching a consensus, and execute cross -chain transactions.On this infrastructure layer, Axlar also provides API and SDK, enabling developers to easily perform cross -chain operations between the two chains.
In terms of functional layers, Axlar introduced the general message transfer (GMP) system to surpass the traditional bridge function and allow cross -chain to send and receive various effective loads, such as function calls, data, packaging assets, etc.Axlar’s architecture adopts a central radiation topology. As a central hub, it connects each blockchain.
In order to improve security, Axlar adopted measures such as second voting and frequent replacement of keys.In addition, the amount of assets that can be transferred within a certain time interval can be limited to the use rate limit of the Axlar gateway.
Financing information:
As of March 5, 2024, Axlar completed a total of 5 rounds of financing, with a total financing amount reached 113.8 million US dollars.When the round B financing completed $ 35 million in financing, the total valuation of the project reached US $ 1 billion.Investors include Binance, Polychain Capital, Coinbase Ventures, Dragonfly Capital, Crypto.com Capital, etc.
It should be noted that the last round of financing was completed in March 2022, which has been nearly two years ago.At present, the project has launched a trading platform such as Binance, with a maximum currency price of $ 2.77 and a market value of $ 724 million.
Key data:
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According to Axlar’s block browser, the number of cross -chain activities of AXELAR network was 1.823 million, the transaction volume was US $ 8.62 billion, and the average transaction volume was 4728 US dollars.
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It can be seen intuitively from the above data column diagrams in the Axlar network that since January 2023, the chain network activity (ie, transaction and active address) of the Axlar network has gradually increased, and general message transmission (GMP)Activities gradually dominate in network activities.
However, it should be noted that the data of Axlar in May this year has decreased sharply, but this has not only the factors of the decline in the overall marketing, but also the reason for only ten days in May.
According to the report of “Analysis of Cross -Chain Interoperability” in February this year, Axlar’s nearly 30 -day transaction volume was twice as much as the nearly 30 -day transaction volume, which is almost eight times that of the CHAINLINK CCIP.
This growth is mainly due to the implementation of its universal message transmission (GMP) function. This function supports complex cross -chain function calls and status synchronization.In addition, GMP began to support the interaction between COSMOS and EVM chains in May 2023.
Future planning:
Axlar announced the roadmap at the end of January this January, and its next development will be carried out around AVM. Specifically, it will include the following points:
1) Let AVM become the development platform of open source tools and develop various DAPPs.
2) Through Interchain Amplifier to achieve unrequited links to any chain, expand the potential network effects into hundreds of blockchains such as Ethereum Layer2.
3) Expand the use of Interchain Tokens to expand its availability on the native chain on all connected chains.
4) Add GAS combustion mechanism to AXL tokens to achieve deflation to protect the AXLAR network.
5) Integrate consensus mechanisms on different chains, including Solana, Stellar, and MOVE -based chains, such as Aptos and SUI.
6) Improve the pricing mechanism of the GAS and improve the accuracy of the inter -chain GAS estimation service on the Axlar network.
Main action:
In May of this year, Axlar announced that it would cross -chain Bitcoin, Hedera and Boca Ecology.Bitcoin L2 network STACKS, open source equity proof of the blockchain Hedera, Moonriver Network, and privacy network Iron Fish will be the first stage of Axlar Interchain AMPLIFIER pilot program to achieve one -click programming interoperability.
In addition, it is worth noting that Solana and SUI will be listed as the upcoming projects in this route.
In November last year, Axlar and Morgan Chase’s digital asset platform ONYX and alternative asset management company Apollo jointly implemented a conceptual verification (POC) project involving business RWA.
In July, Axlar launched its chain token service (ITS), which aims to enhance the interoperability of all Ethereum compatible chains.
In addition, Microsoft announced the establishment of a partnership with Axlar to provide blockchain interoperability solutions.
In February, Axlar launched the Axlar virtual machine (AVM), which supports developers to operate on all chains with only once DAPP.
two,Wormhole
Wormhole is a general message transmission protocol that can realize the APP interconnection across multiple blockchain state -state systems.The project was first launched in October 2020, which aims to enable developers to build native cross -chain applications covering multiple chains.Wormhole initially was a hacker project, the goal was to find a solution that enable the blockchain to “communicate with each other”.
Wormhole was initially incubated and supported by JUMP. The first edition (Wormhole V1) was mainly focused on establishing a two -way tokens between Ethereum and Solana.
With the development of the project, Wormhole has evolved into a general message transmission protocol, connecting multiple chains in the ecosystem.The project aims to be the basic layer of developers to build a variety of cross -chain applications. To this end, the Wormhole V1 was gradually eliminated, and the Wormhole protocol was launched in August 2021.
At present, Wormhole has evolved into a universal AMB (ARBITRARY-MESSAGE-BRIAGE) bridge that supports any message between 38 heterogeneous public chains and is also known as the general cross-chain message transmission agreement or interoperability.Each connected blockchain has a Wormhole nuclear contract, which is the main connection of cross -chain apps.The function of Wormhole’s asset cross -chain bridge is undertaken by the front -end application of Portal Bridge and provides services to the outside world.
Wormhole provides security protection for the Langluo composed of 19 guardians. These guardians are nodes responsible for monitoring chain activities and verifying messages.Guardian nodes are operated by the reputable entity in cryptocurrencies such as JUMP CRYPTO. Because they need to be responsible to the public, they must ensure the trust of the ⾼ ⾼ and the integrity of the operation.
Wormhole communication process:
1. The message sent by the Core Contract will be forwarded to the guardian, which is verified and approved by the guardian monopoly.
Guardians verification and signature: The message was verified and signed under the chain by 19 guardians nodes.Only the news of the signature of the node node node of the guardian node was obtained at least 2/3 (that is, 13/19).After verification, the message will be encapsulated into a structure that is called “validable operation approval” (VAA).
3. Transfer to the target chain: The relay will transfer the VAA transmission of the ⾄⽬ ⾄⽬ ⾄⽬ ⾄⽬ 3 ⾏ ⾏ ⾏.
Financing information:
In November 202, Wormhole completed $ 225 million in financing, and the project valuation reached 2.5 billion U.S. dollars. Investors include Brevan Howard, Coinbase Ventures, Multicoin Capital, Parafi, Dilectic, Borderless Capital, Arrington Capi TAL, and Jump Trading.This round of financing is also the largest round of financing of cryptocurrency projects in 2023.
Key data:
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According to Wormholescan data, Wormhole has passed over 1 billion pieces of information between different chains, ranking first among all interoperable protocols.The total historical transaction volume was about 42.39 billion US dollars.
The current Wormhole token is $ 0.59, and its market value is about 1.069 billion US dollars.Its circulation supply is 1,800,000,000 W, and the maximum supply is 10,000,000,000 W.
Main action:
In April of this year, Wormhole native WORMHOLE Native token Transfers (NTT) available on Solana, Ethereum, Arbitrum, Optimism, and Base.W has become a native multi -chain tokens, which has completed the second stage of the launch of the roadmap.In March, Wormhole conducted tokens.
In February, Wormhole introduced the native token transfer (NTT) function to retain the characteristics of the tokens and solve the problem of liquidity fragmentation between different blockchain.
NTT is an open source framework for transfer tokens across the blockchain without a liquidity pool.When using NTT, the project can fully control the behavior of its tokens on each chain, including tokens, metadata, ownership/upgrade, and custom function.With the help of NTT, the project can also retain the fine -grained control of its security, such as speed limit, suspension, access control and balance accounting.
In the same month, Wormhole announced that it would use AMD’s FPGA hardware accelerator chip to expand the ability to use zero -knowledge proof (ZKP) transmitted by cross -chain messages.The project is planned to be implemented through the “light client” to integrate ZKP for cross -chain security transfer, and aims to create a “channel” to pass messages between different blockchain.
In addition, the Wormhole Foundation cooperates with the SUCCINCT team to build the Ethereum “ZK Light Client” to further promote decentralized message verification in the Wormhole platform.
In December last year, Wormhole launched a $ 50 million cross -chain ecosystem fund and cross -chain instant data retrieval method Wormhole Queries, which allows application developers to extract any chain data on demand.
In August, Wormhole established Wormhole Foundation, which aims to support people who are enthusiastic about research and development of blockchain interoperability technology.In July, Wormhole released the V0.0.7 version of the cross -chain integration solution Wormhole Connect.
Roadmap:
Wormhole announced that W became a native multi -chain tokens, using the unique advantages of Solana and EVM chains, while introducing multi -chain governance systems.
Plan about W includes: to be launched as native SPL tokens on Solana; use Wormhole native token transmission (NTT) to expand on the EVM chain; W holders will be able to lock and entrust their token currency on the Solana and EVM chains on the Solana and EVM chains.EssenceWormhole DAO consists of W token holders and will operate through the multi -chain governance system.
The system will be available on Solana, Ethereum main network and EVM L2 at the time of start.Multi -chain governance will allow token holders to create, vote and enforce the governance proposal across different chains.
Regarding ZK’s route map: By integrating zero -knowledge proof, major progress will be made in the trust assumptions of the Wormhole protocol and integrated blockchain integrated.
The content of the roadmap mainly includes:
Introduce the professional knowledge of cryptography: The Wormhole Foundation has provided the contributors to four new engineering teams specializing in zero -knowledge cryptography, and will issue these announcements in the next few weeks.
Unlock hardware resources: Wormhole contributors will cooperate with strategic hardware providers to accelerate the realization of light clients. As the number of channels supporting ZK and ZK verification messages continues to expand, the hardware accelerator is purchased for Wormhole contributors.
Launch of light clients: light client allows users and applications to quickly and effectively verify the status of the blockchain network (such as frequent account balance, smart contract data, etc.).
In the future, the ZK light client (including Ethereum, SUI, APTOS, Near, and COSMOS) of the blockchain will be deployed and integrated with Wormhole, so as to achieve two -way data transmission that does not need to be trusted.
three,Layerzero
Layerzero is a full -chain interoperability protocol, designed for transmitting lightweight messages cross -chain.Layerzero provides real and guaranteed messages through confidentiality to be confident.It is a “blockchain blockchain” that allows other blockchain networks to communicate directly in a non -possible way.
Layerzero supports any blockchain that can run smart contracts, such as Ethereum, BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, Fantom and other chains.Layerzero also supports non -EVM chains, such as APTOS.
Layerzero can deploy “Layerzero Endpoints” on the corresponding chain (their lightweight clients consisting of smart contracts have communication, verification and network functions). Users can realize cross -chain communication in a single without trust and security transactions.
Layerzero uses Oracle (currently chainlink) and Relayer to convey information between Layerzero Endpoints on the target chain.It is worth noting that any subject can bear the role of Oracle and Relayer.Oracle publishes the block header on the source chain to the target chain. Relayer publishes transaction data and verification transaction proof, and Oracle and Relayer remain independent.
It should be noted that Layerzero only focuses on the message between the chain and the chain, and can send messages to any smart contract on any chain, which is a message transmission layer, for smart contract communication between blockchainIt is not responsible for the cross -chain of assets.
The key function of Layerzero is ultra -light node (ULN). Its essence is to use the technical principles of light nodes to design the mechanism of ultra -light nodes.Instead of getting better costs for better safety.
This smart contract runs on each blockchain and acts as the endpoint of cross -chain communication.ULN uses block heads and transaction proofs to verify the effectiveness of transactions and messages from other chains to ensure security and efficiency.
The communication link between cross -chain is mainly completed by external verification or light nodes on the chain.Light node is a node operation mode, and there are full nodes (Full Node) and Archive Node.Different nodes of the same chain are the cutting version of the chain information. The light node only preserves all the block heads in history, and does not store the specific transaction information in the block.
The income of the verification of the linked operation through the light node is to completely eliminate the external role interference of the notary, and achieve high decentralization based on the safety of the chain itself to be safer.However, this will make the cross -chain cost extremely high, and will eventually be scattered to users who need cross -chain demand.
From the perspective of products and technology, Layerzero focuses on achieving “lightweight” data transmission, so it chooses to use the prophet and relay network to complete the data transmission.After the user completes the operation on the endpoint of the Layerzero source chain, the predictor as an external component will forward the block header of the transaction on the source chain to the target chain.To the target chain.
Mechanical characteristics:
ULN: Layerzero uses ULN on the chain, which is a smart contract running on each blockchain and acting as a cross -chain communication end point.ULN uses block heads and transaction proofs to verify the effectiveness of transactions and messages from other chains to ensure security and efficiency.
GM news transmission: Layerzero supports any type of cross -chain communication, not just asset transfer.Layerzero can support any type of effective load, such as function calls, data exchange, governance voting, NFT transmission, etc.This enables developers to create a full -chain application that can use multiple blockchain functions and advantages at the same time.
Status sharing: Layerzero allows applications to cross -chain sharing state, which means that they can synchronize data and logic without relying on centralized servers or databases.This allows applications to run as a single entity across multiple chains, thereby creating a seamless user experience and reducing complexity.
Instant endability: Layerzero guarantees the real -time endability of cross -chain transactions, which means that they will be confirmed once they are included in the blocks on the source chain.This eliminates the needs of waiting or confirmation on the target chain, thereby improving speed and availability.
Financing information:
Layerzero has completed several rounds of financing, with a total financing amount of US $ 293.3 million. Investors include a lot of star capital such as Binance Labs, Delphi Digital, A16Z, Sequoia Capital, Coinbase Ventures.
In April 2023, Layerzero Labs completed $ 120 million in Series B financing for $ 3 billion; in March 2022, Layerzero Labs completed US $ 135 million A+ round financing, with a post -investment valuation of US $ 1 billion; September 2021The project has completed a round A round of financing, and the round of financing is led by Multicoin and Binance Labs.
Key data:
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According to data of Layerzero’s official website, Layerzero has been connected to more than 50 blockchain and is still increasing. The total communication information is about 132 million, and the transfer value exceeds 50 billion US dollars.
Main action:
The timetable for airdrops and TGEs is getting closer and closer to Layerzero to release the witch self -report process, for a limited period of 14 days
On May 11, Layerzero Labs released a “Protocol RFP” proposal in the community.The proposal shows that all OAPP, OFT or OnFT contracts are deployed on the main network before Snapshot #1 and declared on Layerzero Scan that their projects are eligible to submit proposals.
The example of the project allocation is: 50% are allocated to users with cross -chain OFT, 20% are allocated to LP, 15% are allocated to token holders, and 15% are allocated to community members.At the same time, the Layerzero Foundation will screen according to the final witch report, and the witch address will automatically cancel the distribution qualification.
At the same time, the project party stated that the Protocol RFP is just one aspect of TGE, and more information about token distribution (including the assignment of a single user allocation and future agreement distribution) will be announced soon.
On May 4th, Layerzero released the witch’s self -reporting process, which was limited to 14 days.On May 2nd, Layerzero Labs announced the completion of the first phase of network snapshots.
In April, Layerzero announced that WEETH has adopted the OFT standard and will launch WEETH on BLAST, Optimism, Base, Linea, Mode, and BNB Chain.
In January, Layerzero’s main network was launched. At the same time, Layerzero V2 was launched. The new features include: general message transmission, modular security, execution of no license, unified semantics, V1 compatibility.
In November last year, Ayerzero Labs launched a value attribution solution Colortrace, which can replace the alternative token attribution (dyeing) in the original entity (coinker) to make any form of the successful contribution of the agreement to help achieve the helpIncome, alliance plans, recommendation links, and fair allocation of many other common real world applications.
In October, Layerzero launched a packaging STETH (WSTTH) feature of Lido Finance on Ethereum, Avalanche and BNB Chain.WSTTH has integrated with Layerzero all -chain alternative tokens (OFT standards).
Summarize
With the development of the blockchain ecology, there have been as many as a hundred types of blockchain, and the interaction between chain is the general trend.Chain operation performance improves the advantages of the liquidity of digital assets, enriching the blockchain ecosystem, and simplifying the cross -chain interaction threshold.Based on this, the big centers, including Binance this year, will continue to be Axlar and Wormhole, and Layerzero has the probability that it will follow closely.
However, the chain abstraction track also faces the security problem of cross -chain bridges in the past, that is, it is easy to become a hacker goal.In addition, the chain operation agreement is still in the early stages and is also facing centralized risks.Therefore, investors may wish to look at the high projects of high investment in such institutions.
