As soon as launched, the brand new system will introduce a general-purpose interoperability ecosystem for all blockchains with sensible contracts. It would additionally advance the safety and resource-efficiency of cross-blockchain bridges.
Here is how Flare’s Layercake can bridge 100 blockchains with 101 sensible contracts
In keeping with the official announcement shared by the Flare Networks crew, its engineers proposed LayerCake, a blockchain-agnostic interoperability resolution that may change the sport within the cross-network bridge sphere.
Why Web3 wants LayerCake?:
1️⃣Bridge between any + all sensible contract chains
2️⃣Quick, decentralized, fully-insured bridges
3️⃣Zero collateral required from person; network-provided
4️⃣101 sensible contracts (not 5,000 bridges) to attach 100 chains
Full section: https://t.co/OddbKvHQ8r pic.twitter.com/4v6JmiwBSN
— Flare ☀️ (@FlareNetworks) Could 6, 2022
Flare Networks CEO Hugo Philion created an academic video to cowl the design of the upcoming system and the alternatives it unlocks for DeFi and Web3 as an entire.
LayerCase will bridge blockchains with an ecosystem of bandwidth suppliers. “Wrapped” asets will initially be minted on Flare (FLR) blockchain itself after which broadcasted to “goal” networks.
These bridges is not going to maintain customers’ cash whereas each deposit to them might be absolutely “insured” as bandwidth suppliers might be required to stake liquidity within the quantity that matches the utmost capability of their chains.
As such, LayerCake infrastructure would enable seamless worth switch between every kind of heterogeneous networks: Solana (SOL), Ethereum (ETH), Cardano (ADA) and so forth.
Why will or not it’s higher than all current options?
First, as defined by Mr. Philion, this design would enable bridging programs to be decentralized and quick on the similar time. Sometimes, decentralized programs work far slower than their custodial analogs.
For the primary time within the historical past of Web3 bridging ecosystems, the blockchains might be interconnected by 100% insured programs: this is able to get rid of the potential of hacks and assaults.
Final however not least, with this idea, the bridging ecosystems might be scaled linearly, not quadratically (blockchain-to-blockchain) to keep away from scalability and interoperability bottlenecks.