Subversion丨Exchange Union upgrades cross-chain transaction technology, hoping to realize the alliance blueprint as soon as possible

Exchange Union, a newcomer in the blockchain industry, is upgrading its core technology.

As we all know, there are thousands of different cryptocurrencies in the current cryptocurrency market. Whether new or old, more and more users are beginning to focus on decentralized targets. But at the same time, the ideal of cross-platform and cross-chain transactions has not yet been realized.

The purpose of the exchange alliance is to solve this pain point: by connecting digital asset exchanges around the world, breaking the state of separation of digital asset exchanges in various places, and realizing instant and trustless cross-platform transactions. There is no doubt! The concept of the cross-platform trading alliance has a blue ocean first-mover advantage!

This bold and subversive concept is mainly due to the three technical advantages that the exchange alliance has in the implementation of digital asset transactions: transaction immediacy, security, cross-chain and cross-platform.

As blockchain transactions gradually exposed problems such as slow block confirmation and high transaction fees during operation, community developers have tried to improve transaction processing capabilities through block expansion, segregated witness, etc., but unfortunately these methods cannot improve transaction processing capabilities in a big way. Until the community got inspiration from the experience of code performance tuning and directly put transactions outside the chain for execution, payment channel technology (Lightning Network, Raiden Network) will solve this problem.

The Lightning Network is a peer-to-peer network, a completely decentralized digital currency micropayment system. A micropayment channel is built to allow both parties to pay quickly and at low cost, and the transaction destruction part between users is not presented, only the final state is broadcast. These interactive measures make it possible for blockchain transactions to be massive and real-time; in addition, HTLC, another key technology of the Lightning Network, makes deposit routing trustless, no one can fabricate transaction data, and fully guarantees the security of off-chain transactions. Based on the idea of ​​the Lightning Network, the Ethereum community, in addition to using sharding technology, has also proposed its own payment channel, the Raiden Network, while improving transaction processing capabilities. It also privately exchanges transfer signature messages and performs off-chain operations. At the same time, the Raiden Network has also been optimized. For example, the Ethereum smart contract has no special field restrictions on the message format. The Exchange Alliance is the first proposer of an instant and decentralized transaction solution. Behind its cross-chain transaction technology is the blessing of the above two cutting-edge expansion technologies, the Lightning Network and the Raiden Network! With the further upgrading and development of technology, at present, Lightning Network transactions have been successfully executed on the Bitcoin main network, and the simplified version of the Raiden Network has also been successfully released on the test network. The successful deployment and launch of the two also gives the exchange alliance full confidence to ensure the immediacy and security of subsequent transaction technology implementations!

The novel technology used by the Exchange Alliance is based on "payment channels" and also benefits from the combination with "atomic swap" technology. In the technical implementation, the mutual conversion of digital assets is achieved through "atomic swaps". Atomic swaps occur directly in payment channels. This technology allows trustless peer-to-peer transactions between different types of digital assets. These transactions can be completed in an instant, so there is no chance for either party to fail to comply with the agreement. Either all succeed or all fail. At present, the first atomic swap transaction between Bitcoin and Litecoin based on the Lightning Network has been declared a success. The Exchange Alliance fully absorbs the essence of innovation in the blockchain field and has successfully implemented atomic swaps in the Lightning Network on the test network. In this way, the final step of asset conversion in the cross-chain transaction of the Exchange Alliance will also be successfully solved.

The Exchange Alliance continues to conduct in-depth research on mainstream blockchain technology platforms. On the one hand, it strives to contribute to open source communities such as the Lightning Network and strives to promote the overall technological progress of the blockchain; on the other hand, it actively adopts cutting-edge forces and continuously promotes the upgrading of its own core technologies. In the future, coupled with the business expansion of the team, the value of the Exchange Alliance will inevitably continue to grow with the expansion of the alliance nodes. I believe that by then, the Exchange Alliance's trading pioneer advantages of "instant, no credit endorsement and cross-platform" will definitely be fully highlighted!

A cross-trading platform alliance strategic concept that responds to market demand will surely gradually shine in the ever-increasing technology! At the same time, it will also be a high-quality project with rapid appreciation and huge growth potential!