Today, we have a bunch of blockchains that have been built and we foresee there will be many more blockchains in the future, each, are isolated, unable to communicate with each other, similar to Ethernet, sets of private networks that we are accustomed to before the internet boom.
If Blockchain is to be what it is meant to be, the next internet, bridges must be built to connect all these Blockchains, to provide a secure and scalable way, enabling communications between different blockchain seamlessly with low transaction fees.
Back in December, FST Network has recently released built a bridge between Ethereum and EOS, allowing EOS users to control assets on the Ethereum Blockchain by using EOS’s smart contract and vice versa. Showcasing our capability to be the foundation of an interchain, the bridge that connects to all Blockchain. During these 3 months, we have collected feedbacks and have prepared an FAQ for community references.
1 ) Question ：What’s the major difference between FST Network’s Cross-chain Mechanism with existing solutions？
FST Network’s cross-chain mechanism provides a more flexible and scalable framework compared to the existing solutions. We also do not require the need of a side-chain or a state channel to perform cross-chain transactions, our solutions supports any chains that supports multi-signature. Our design removes privacy violation risks, easier to comply to regulations and also ensure the security of said solution regardless of size of participants.
2) Question：How do we execute a cross-chain transaction？
Through the communication of our cross-chain modules and our interface, users only need to pays a small fee of FST to activate the cross-chain transaction, the endorsers will validate the transaction.
3) Question : Can multiple cross-chain modules exist in one Blockchain?
Yes, as we have included the scenario where businesses might need their own “bridge” to avoid confusion and risk during cross-chain transactions. Endorsers also have the right to validate transactions from different cross-chain modules.
4) Question : How do we become Relayers?
Answer : By Staking FST in our software ( to be released in the near future ).
5) Question : Does Endorsers compete with each other？
Answer: In our current design, endorsers do not compete with each other but they will supervise each other, ensuring consistency within the cross-chain mechanism, the rewards will be split among the participated Endorsers. Look out for our upcoming demo releases along with our token sale announcement to learn more. In the meantime, join the conversation on our Website, Twitter and Telegram.