The blockchain application platform, which aims to make this technology accessible to all, has demonstrated a high level of innovative interoperability solutions.
This approach relies on an inter-network certificate model, Lisk says, in which information is sent between networks using a signed entity known as a certificate.
According to the platform, this approach provides several significant advantages over other methods in the market. It is scalable – meaning there is no limit to the number of side chains that can be connected to the main Lisk chain – and also flexible, as update transactions can be performed across the chains whenever the user wants. This gives crypto enthusiasts the freedom to create cross-network transactions every 10 seconds or once per month and build an ecosystem based on their requirements.
This flexibility also ensures that the technology is fast, and it is imperative that the task of creating and sending update parameters between strings is not limited to auditors. Security is also verified by the fact that certificates must be signed by a large number of validators from the sending blockchain, with all messages authenticated across the chains using certificates. Acceptance strings can also verify whether certificate signatures were created by legitimate auditors, and malicious transactions are easy to detect and reject.
The goals of the updated roadmap
Lisk says it has identified eight roadmap goals, each of which includes a key aspect of an interoperability solution. This includes defining the messaging protocol on the chain, introducing ecosystem code standards (including NFT), making the Lisk-BFT protocol more flexible, updating the block header format, and improving the signatures used on the platform.
The project explained: “The Lisk interoperability solution is based on the interoperability model.” “Any information between the chains can be exchanged using shared messages over the chains. The Lisk master chain plays a major role throughout the ecosystem as all messages are routed through the chains between the side chains through the main chain.”
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According to the platform, the side chains can be adapted according to the user’s strict requirements, which opens up the possibility to operate according to different consensus algorithm. LSK tokens can also be transferred to any chain and will act as the default transaction fee token across the ecosystem.
Special tokens can also be created for side chains so that the decentralized application can have its own digital resource. There are some customization limitations here, giving developers the ability to decide if they want block rewards, giving them full control over other specifications such as block times and block size limits.
Compatibility in action
To illustrate the compatibility fix functionality, Lisk plots a scenario in which a user with LSK tokens in the main chain wants to participate in a prediction chain based on their custom bet code.
First, the user will send LSK tokens to the swap chain through token conversions between chains, paving the way for cryptocurrency exchange to bet on tokens. The subsequent transfer of the token through the chains ensures that the cryptocurrency is sent into the prediction chain, where the user can place a bet on the winner of the Nobel Prize in Physics. From here, the Oracle chainring can send the result to the prediction chain via a custom message via a chain – and if the user is lucky enough to be right, they can win.
The platform announces that more details will be provided on its ambitious plans for interoperability and suggestions for improving Lisk at Lisk.js – the annual Lisk blockchain developer event – on May 21 and 22.