Transparency is all that matters
A deep dive into the Multichain Cross-chain Mechanism
With the vision of being ultimate router for Web3 and the multi-chain request of users, Multichain protocol has evolved from bridge to router in 2021, which revolutionarily changed the basic logic of cross-chain bridge connecting one chain to the other. In traditional lock-mint bridge, a deposit address on the source chain holds locked assets, the token contract on destination chain issued the minted assets. The supply of the minted assets should be no greater than the locked assets on the deposit or escrow address, which works as collateral. After router upgrade, Multichain protocol can bridge user’s assets from one chain to another. When a user bridge assets from chain A to chain B, the user’s assets on Chain A will be sent to the escrowed pool on Chain A, then the escrowed assets on chain B will be send to the user or the assets will be minted for the user. Then the user can bridge the asset directly from Chain B to Chain C without going back to Chain A. The deposit or escrow addresses in Multichain protocol are on multi-chains. How the assets are located depends on how users use Multichain protocol.
Let’s take DAI for example. The minted DAI on fantom is backed by DAI in the bridge deposit address in Ethereum and other pools in Fantom, Optimism, Cronos, BNB chain, Polygon, Arbitrum, Avalanche and Ethereum. The total DAI supply on Fantom is 99,582,675.29 and the total DAI deposit in the pool and MPC address is 100,027,180.95.
DAI supply
Fantom: 0x8d11ec38a3eb5e956b052f67da8bdc9bef8abf3e
Collateral on Multichain
Ethereum: 0x739ca6D71365a08f584c8FC4e1029045Fa8ABC4B
Optimism: 0x4f3aff3a747fcade12598081e80c6605a8be192f
Cronos: 0xb96b904ba83ddeece47caada8b40ee6936d92091
BSC: 0x1282911d3600b202698997f61f46379db3b9f01e
Polygon: 0x9b17baadf0f21f03e35249e0e59723f34994f806
Arbitrum: 0xaef9e3e050d0ef060cdfd5246209b0b6bb66060f
Avalanche: 0xd4143e8db48a8f73afcdf13d7b3305f28da38116
Fantom: 0xd652776dE7Ad802be5EC7beBfafdA37600222B48
Ethereum Fantom bridge MPC: 0xC564EE9f21Ed8A2d8E7e76c085740d5e4c5FaFbE
Liquidity Tool: MPC 0x5e583b6a1686f7bc09a6bba66e852a7c80d36f00
The so called EOA address is actually a MPC address. The shards of private keys of MPC address are managed by the independent validators of MPC network. The complete private key never exists in the world. When a transaction needs to be signed, each node of the MPC network works independently and cooperates to sign in a distributed way.
fastMPC, the next generation MPC network of Multichain, has launched its mainnet. All the institutions and individuals are welcomed to join the community and run the fastMPC node. Here is the guide:
https://multichainorg.medium.com/fastmpc-mainnet-node-installation-and-registration-2b1a48377425
Check more about the security of Multichain protocol: https://docs.multichain.org/getting-started/security/security-model
For more details about how Multichain protocol works, please refer to
https://docs.multichain.org/getting-started/how-it-works
https://docs.multichain.org/getting-started/how-it-works/cross-chain-router
