Understanding Parabridge: Edgeware DOT Bridge As A Case Study

in #leofinance3 months ago

A close study of the Polkadot ecosystem will give you advanced knowledge of the innovation around Blockchain Technology. Polkadot belief that the internet of the future will have many different types of Blockchains working together and this prompted the design of the Parachain model as we, the current version of the internet caters to different needs. Some render services to the gaming world, another for identity management, another for finance, etc. The flexibility attached to the architecture design of Parachain makes it interesting to look into.

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The Architectural Design of Parachain

A Parachain is also known as a parallelizable chain. This is a simpler form of blockchain, which attaches to the security provided by a “relay chain” rather than providing its own. When we talk about a relay chain, it's about a chain that lending security to the attached parachains, and also provides a guarantee of secure message-passing between them.

Note: A Parachain performance is inherently independent.

Edgeware As A Parachain

Edgeware is one of the Polkadot projects that's considering Parachain after 4 months of the community discussion on Commonwealth Lab Forum.

Dillchen founder of Commonwealth Lab said,

Edgeware was launched with the understanding that over time, it would become a Parachain. For the Edgeware community, becoming a Parachain has two very direct effects, being able to connect to Acala, Stafi, and other projects with whom Edgeware already has relationships. Moreover, there’s a first-mover advantage, this likely means that projects on Edgeware, especially DeFi projects, will be able to add DOTs to their protocols which should have a direct beneficial effect on the overall health of Edgeware. Last, becoming a Parachain will lower the effective security budget of the chain itself—potentially 2-3x less than the current 10% inflation directed to validators.

Launching The Edgeware DOT Bridge Zone (Parabridge?)

Polkadot's based projects already have some chain participating in the upcoming Parachain slot auctions but they are not yet mainnet, which means on the successful bond, they may launch. Edgeware is already operating on its chain and launching Parabridge comes in that will serve as a dedicated bridge, passing transactions from Edgeware Main to the DOT Bridge Zone, and then onto the Polkadot ecosystem. The launch of Parabridge means a new mainnet will show face.

Below is the comparison of old Edgeware Parachain and new Edgeware-DOT Parachain.

This concept is a bit earlier than expected and this is to release unto Kusama a blown up in value in the meantime. Considering Parachains, there is a possibility of having different price-entry for slots, this means extremely stable and high-value networks will use Polkadot's top-tier relay (because they want predictability and high security) -- and Kusama might be for those chains that are ready for Kusama's 'chaos' as they say.

Edgeware as a community-managed treasury project believes that community and values place on them is the criteria that activate a project niche, as revealed by the Edgeware Chief of Staff (Thom Ivy).

In conclusion, the tool to solve scalability issue on-chain is the most intriguing use-cases for Parachains and the major issue with Parachains is data availability. The blocks are meant to be accompanied by a proof of validity that remains available to anyone to check for at least a certain period and this is the work of validators. Edgeware has solid validators (above 100) that takes responsibility for ensuring the proof for blocks they verify remains available.

For More Info

Commonwealth Lab | Edgeware Website | Twitter | Telegram

Post Reference

My Post on Uptrennd

JustCharles Medium's Post

Commonwealth Proposal discussion