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.

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

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Multichain (Previously Anyswap)

Cross-Chain Router Protocol (CRP), an infrastructure for cross-chain interoperability, envisioned to be the ultimate router for Web3 https://multichain.org/