Motivations

Blockchain interoperability, which allows transferring assets and sharing data across different blockchain networks, is an emerging but crucial field of blockchain technology. Existing blockchain interoperability solutions have shown interest in assets exchange across permissionless blockchains. A few of them involve the interoperability between permissionless and permissionless blockchains. We propose BXHub, which targets the interoperability between the two types of blockchains.

Problem With Existing Solutions

Unsafe

Bridged assets are controlled by private keys or smart contract, however key and contracts are not well protected.

Flawed

Existing TX proof verification methods are either insecure trusted committees off-chain verification or expensive trustless light client on-chain verification

Expensive

Popular platforms need high network transaction fees and extra on-chain proof verification cost.

Limited

Existing platforms only support public blockchains. Most of platforms only support asset transfer.

Market Analysis

More than 20 cross-chain bridges have a daily volume exceeding 1 million. There are approximately 100 existing operational cross-chain bridges.