Chainfeeds Introduction:
Axelar team member Sergey broke down the core building blocks of interoperability: universal messaging, intents, chain signatures, cross-chain tokens, and how to provide a unified Web3 user experience by combining these building blocks.
Source:
https://sergeynog.substack.com/p/hitchhikers-guide
Article author:
Sergey | Axelar
Viewpoint:
Sergey | Axelar: At the core of all chain abstraction primitives is the Generic Messaging (GMP) protocol, which enables secure cross-chain settlement and transfers messages between smart contracts across chains. These protocols define a base layer API that developers can use to securely send information and assets between multiple blockchains. Examples of GMP protocols include Axelar GMP, Chainlink CCIP, Cosmos IBC, LayerZero, and Wormhole. GMP protocols should be as minimalistic as possible to ensure the strongest liveness and safety. Application-level protocols that leverage the GMP layer can simplify cross-chain interactions for developers and users by automating common processes. Examples include token transfers, chain signatures, cross-chain governance, multi-party approval of contracts, and intents. Cross-chain tokens: Cross-chain token services are a key component in enabling chain abstraction. Cross-chain tokens allow developers to launch a single representation of their token on multiple chains with the same address and name, with instant cross-chain support. Examples include Axelar ITS, Layerzero OFT, and Wormhole NTT. Chain Signatures: Chain Signatures provide a centralized "place" where users can sign transactions for other chains to accept. Given a user's key and a transaction to be executed on chain X, the system signs, propagates, and executes the transaction on that chain without the user having to obtain a corresponding wallet or explicitly pay gas fees. Intents: Intents are application-level features built on the GMP protocol that are designed to enhance the user experience by speeding up token bridging and cross-chain swaps. Intents do not replace GMP, they add a layer on top of GMP that abstracts secure messaging from the user. In order to effectively scale Web3, horizontal scaling across multiple chains is critical. While synchronous composability on a single chain is ideal, it is not sufficient to support the diversity and scale of applications that are about to emerge. Asynchronous composability, supported by GMP and application-level protocols, provides a powerful solution. This approach reflects the design of the Internet, where asynchronous communication and composability allow for massive scalability and interoperability across different systems and networks. While there is still much work to be done to fully realize this vision, the core building blocks are in place. Developers can begin to leverage these tools to reduce the cost of building and managing dApps across chains, simplifying the user experience while maintaining a simple, unified experience for developers and users. [Original text in English]
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