The Future Is Multi-Chain

Transcript

hi everyone my name is alex smirnov and uh i'm co-founder of the bridge protocol and uh i'd like to get started just to provide to provide a bit of a background about myself i'm a blockchain developer and i went out from the academia of moscow state university when where i was doing phd in the area of mathematics which i that i didn't defend because i was too fascinated by blockchain development and um starting from the beginning of this year we me and my team and i are working on the solution for cross-chain interoperability and that's why today we are going to talk about the interoperability in general and i will just share my personal thoughts on why

the future is multi-chain in fact we already live in a multi-chain world because there are many more than 100 public blockchains available and some some some of these blockchains are solving like specific problems like scalability or privacy some of these blockchains are just forks of others with their own community but we can assume that the number of blockchains will even increase along with the adoption of dfi and blockchain technologies in general and the tremendous amount of the blockchain ecosystems list two

problem of fragmentation so all of these blockchains are evolved independently right and they're not interconnected with each other or interconnected through some narrow channels which are specific for every different blockchain and there are a few fragmentation problems here in the industry so first of all is fragmentation of technology then of liquidity and even of the competitive environment and this problem is not solved yet because there is no a unified standard and solution for cross-chain interoperability and one of the interesting problems the fragmentation of technology because whenever we have a

new blockchain ecosystem that is launched or layer 2 many teams are starting starting to think like what what we can launch on this specific blockchain what hasn't been launched yet and mg and our team raised some really good point about that that many teams are thinking just about forking of some existing technologies in and they're like solving the problem locally for each specific blockchain ecosystem instead of solving for the entire uh blockchain ecosystem and yeah so many teams are just like forking and that's why we have so many forks of unisop curve and other protocols and fragmentation of liquidity

is quite a vital problem as well it started from the fragmentation within one specific ecosystem when liquidity was distributed between many various decentralized exchanges but this one was actually solved by the aggregators like one inch or power swap which split the swap of assets between different liquidity pools but what if we want to perform a cross-chain swap between like different blockchains how how is it possible to split that swap between different daxes in different blockchains and so far there is no solution for that but it will be interesting to see what solutions will come up once we have a true interoperability between various

blockchains and fragmentation of competitive environment is quite interesting as well because right now we are the point when different projects compete with each other locally so for example pancake swap can compete with bakery unisof with sushi radium with sauber and what if user would be able to perform his swap in any of these blockchains and make a decision like which one he he can use this will lead to the situation when all all these dices will compete within like within one multi-chain ecosystem so basically i can as a user i can choose whether i

want to swap my assets at pancake or radoom simultaneously and i will just choose the one that will provide the better rates and lower lower slippage of course and the problem of interability in general is not solved yet because there is no unified standard so we have numerous blockchains and we have numerous bridges and though all of those bridges are like chain specific uh and when user wants to perform transfer from one one ecosystem to another he has to do a due diligence and to check like what bridges should be used whether the robbed asset that he will receive in the target chain will be liquid and if the user will be swapped

that asset because i had many situations when user like breached asset from let's say ethereum to binance march and then they realized that the the rob test that they received was not liquid at all and um user experience is very different like for every specific blockchain uh for every specific breach user interface differs and it makes the user experience not too good in general and the main question is like when will we have the true cross chain interoperability and i think that bridging of assets is not enough

um the most important thing is actually delivering of the arbitrary messages between blockchains and there are three types of things that can be performed the first one is of course just like pure bridging of asset the second one is bridging of messages when let's say a smart contract in one blockchain can send instruction or arbitrary data to smart contract in another blockchain and the third type is when we send liquidity and the same transaction we specify some instruction like what action should be performed with this specific liquidity so for example i can send like ethereum to some other blockchain and this at the same time specify message to swap this

liquidity to other chain and um yeah that opens up a lot of interesting opportunities but the problem is that receiver in the target blockchain also need to know who was this sender so for example if some lending protocol would send the command to different blockchain then the receiving smart contract should know like whether the sender was trusted or not and another point is triggering of transaction in the target chain for example i'm sending some asset like who will claim it for me because sometimes user do not need the base asset of the blockchain on his wallet to execute

transaction and there can be a situation when like user transfers ethereum to solana in order to buy solana but it turns out that he needs actually soul talking already in order to claim his transaction um yeah that's the interesting thing because the there is a need of some keepers who will execute transactions cross and the most exciting thing is of course applications so what are applications the most obvious one is the cross chain swap of course when we just can specify like blockchain from the asset that we want to swap and we specify the blockchain where we want to

receive specific asset and then all the magic happens under the hood another use case would be multi-chain governance because transaction and ethereum of course are expensive and governance voting are would be expensive as well and there is a possibility to perform like voting itself in some layer two solutions on or other chains and settle the result in ethereum um question lending i think is really interesting application as well because that would open up an opportunity to provide liquidity to the protocol in one blockchain let's say ethereum and at the same transaction draw credit from another chain for example polygon and this credit can

be repaid in let's say our bit room and um yeah christian yield farming is quite interesting as well would be great if for example we could supply liquidity into urine in ethereum and your strategy would automatically rebalance um liquidity between strategies in different blockchains according to the best api and yeah we'll be would be interesting to see what developers will build on top of true cross-chain interoperability and [Music] very the most exciting thing i would say the compassibility of the protocol themselves because interoperability makes protocols interplugable in different blockchain

ecosystems uh one of the examples would be the stablecoin protocols let's say in ethereum which can open position on perpetual markets in other blockchains like mango markets and so on or perpetual in our bedroom in order to maintain its pack and protocols can integrate with more and more other protocols from different ecosystems and that make entire like blockchain industry more unified um and of course nfts nfcs are super popular it's kind of onboarding funnel into crypto right now and interoperability would open up many opportunities for nfts as well the most obvious one is bridging of nfts between blockchains

uh then the second one that comes in my mind is that you can actually sell some nft directly from game interface so so gaming game assets will be easily tradable and interoperability of entities between different meta versus let's say you have cryptopank and you can use it somehow in a star atlas game as you're a water um yeah that's what we what what i think about nfts and of course i would like to tell you a bit about the solution we are working on with my team which is called d bridge so we are actually solving the interoperability dilemma and the ultimate goal here is to

interconnect various blockchains all together and breach is across chain liquidity uh cross chain interoperability and liquidity transfer protocol and our global goal is to make it as a decentralized standard for passing an arbitrary data between different blockchains than for compatibility of smart contracts cross-chain swaps and it's in general it's infrastructure platform and a hooking service that allows various developers and protocols to build on top of it and yeah we can't wait to see like what developers will build after they're integrating with with the protocol because that allows to get access to the user ways like from different

blockchains and users from other blockchain ecosystems can interact directly with your protocol without the need to switch the network in his wallet and thus far we get some really good achievements so first of all the project itself commenced back in april when we won the global channeling hackathon we got the first place among more than 140 projects worldwide we had a test net for five months first version and now we are we'll be soon launching the second version of the test net with all the interoperability features that i uh mentioned during the presentation and

the main at launch itself is planned for q4 later this year yeah we also received grants from polana solana and polygon ecosystems we have really amazing security audit partners like halbourne and zokyo and we finalized back in august the fundraising with really great set of exceptional investors and yeah looking forward to the main at launch when we open up various interoperability opportunities and i know there are many developers and people who are passionate about crypta and we will be glad to discuss opportunities for collaboration of course and

to see talented developers and our team because we believe that we work on solving of some really crucial problems for the entire d5 ecosystems and we are distributed team we have 12 people right now everyone works remotely all over the world and if you're interested to work on diff on it on crochet and interoperability just let me know and text to telegram because we are working with some really interesting technologies like solana frameworks ipfs or bdb and many more and if you want to have a chat with me about cross chain or interpretability just reach me out here's my telegram and twitter and also twitter of

dbridge so we're we're always in touch and yeah we'll be glad to discuss and if you have any ideas like for integrations or how cross chain can be used or can be applied for various applications let us know as well thank you for your attention [Applause] we've got a few minutes for q a so please don't hesitate to ask alex a few questions yeah by the way we have a booth here and

if you want to see some demo or talk about interability as well just come by tower booth and [Music] i'll be glad to chat hello uh yeah thanks for the presentation a big fan of keybridge um from the lao so obviously fans of you guys um so what kind of applications would you like to see built first on d bridge or put it this way what do you think would drive user adoption the most in my opinion user adoption will be from integration with other protocols and projects and our go to market strategy consists of two parts so first of all we would like to be

integrated with the projects with a big user bases like wallets or statistics platform like sapper or cereon or wallets like metamask or phantom etc and second part is integration with protocols because we basically allow protocols to easily scale up to other blockchains and we also allow protocols to get user to get access to the global user base because for example if you have protocol in ethereum by integrating with d bridge users from solana will be able to interact with your protocol as well and i think that cross chain uh wave will be like i don't know it will be like tsunami and i think it can be the next wave in defy because many really exciting applications can be

built on top of it thanks yeah i agree with that okay all right yeah great presentation uh you said that you are currently in test net phase two uh is that publicly accessible like can anyone play around already with the bridge or uh is that like a closed kind of test net no we we had testnet version one and we started to migrating to version two it should be announced very soon but i can show you some of them already if you come by to our booth but i think very soon you'll be able to check it by yourself in testness like cohen binance marching et cetera okay and in q4 you're going to launch the the network and which networks are

you going to support during the mainnet launch yeah good question so we start from eim chains of course the first five will be ethereum binance marching hakko polygon and arbitrome with more both evm and non-even chain down the road so solana basically will be the first non-vm blockchain that we support and we have a dedicated team of press developers in the deep bridge who are working on solana ecosystem okay great thank you okay thank you and uh enjoy the conference