Blockchain Transmission Protocol (BTP)

The Blockchain Transmission Protocol (BTP) is a technology that enables compatibility between different blockchains, even those with different algorithms and consensus models. It facilitates the transfer of services, values, and data across these blockchains.

BTP is particularly useful for exchanging tokens across multiple blockchains as it allows for direct exchanges through smart contracts without the need for an intermediary trading platform. This means that users can easily transfer tokens from one blockchain to another, enabling seamless interoperability.

Furthermore, BTP also enables data transfers across partners powered by ICONLOOP, such as MyID apps. With BTP, users can send messages to any interconnected private or public network without having to submit their Decentralized ID (DID) credentials and key to each blockchain. This enhances user privacy and simplifies the process of interacting with different blockchain networks.

Another important application of BTP is in the issuance of certificates for blockchains. The ICON Network, which utilizes BTP, has a service called Broof that allows users to create and store validated certificates on its chain. BTP can activate the issuance mechanism of a smart contract on the ICON Network, making it easier to verify and authenticate documents on the blockchain.

What is the ICON Network?

The ICON Network aims to connect fragmented blockchains and enable interoperability among them. This connectivity is made possible through the Blockchain Transmission Protocol (BTP). By enabling seamless communication and data transfer between different blockchains, the ICON Network promotes collaboration and synergy between disparate blockchain networks.

What are the Components of the Blockchain Transmission Protocol?

The Blockchain Transmission Protocol follows a set of functions and standards to ensure proper data transfer and maintain validity and integrity. These components include message specifications, message relayers, message verifiers, and service smart contracts.

What are the Message Specifications?

All messages in BTP should contain recipient, sender, serial number, service name, and service data. These specifications provide a standardized format for data exchange, ensuring that messages can be properly interpreted and processed by the participating blockchains.

What is Message Relayers?

Message relayers are responsible for retrieving and delivering BTP messages. They act as intermediaries between the source blockchain and the destination blockchain, ensuring that the messages are transmitted accurately and securely. Relayers play a critical role in maintaining the integrity and reliability of the data being transferred across blockchains.

What are Message Verifiers?

Message verifiers validate the data collected from relayers. They ensure that the data being transferred is authentic, accurate, and has not been tampered with. Verifiers use cryptographic techniques to verify the integrity and authenticity of the data, ensuring that only valid and trusted information is transmitted across blockchains.

What is a Service Smart Contract (SSC)?

Verified BTP messages are forwarded to the Service Smart Contract (SSC), which executes the transmission from the smart contract of the source blockchain to the smart contract of the destination blockchain. The SSC plays a crucial role in facilitating the transfer of services, values, and data between different blockchains. It ensures that the transactions are executed according to the rules and protocols set by the participating blockchains.

What is the Blockchain Transmission Protocol and how does it work?

BTP establishes connections between two chains, which can then connect to additional chains, creating a network of interconnected and interoperable blockchains. This network allows for seamless communication and data transfer between different blockchains, enabling users to exchange tokens, transfer data, and collaborate across disparate blockchain networks.

By validating external data through smart contracts, BTP ensures that all validation operations are transparent and open to audit and verification. This transparency enhances trust and confidence in the data being transferred, as it can be verified by anyone on the blockchain network. The use of smart contracts also ensures that the transfer of services, values, and data is executed securely and in a tamper-proof manner.

In the event of a temporary connection disruption in an asynchronous network, the relayer/sender blockchain may temporarily pause data delivery. However, the data can be recovered and resent without any loss once the connection is restored. This ensures that no data is lost during the transfer process and that the integrity of the transferred information is maintained.

Blockchain Transmission Protocol is designed to be versatile, allowing blockchains that do not support smart contracts to partially participate in BTP transactions. These blockchains can act as sender chains but cannot participate as receiver chains. This flexibility allows for broader participation and integration of different blockchain networks, promoting interoperability and collaboration in the blockchain ecosystem.

In summary, the Blockchain Transmission Protocol (BTP) is a technology that enables compatibility and interoperability between different blockchains. It allows for seamless transfer of services, values, and data across these blockchains, facilitating token exchanges, data transfers, and certificate issuance. BTP is an integral part of the ICON Network, which aims to connect fragmented blockchains and promote collaboration in the blockchain ecosystem. By following a set of functions and standards, including message specifications, message relayers, message verifiers, and service smart contracts, BTP ensures proper data transfer and maintains the validity and integrity of the transferred information. With its versatility and transparency, BTP enhances trust and enables seamless communication between different blockchain networks.