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Weizhong bank released wecross white paper, an open source blockchain cross chain collaboration platform, supporting hyperledge

Time : 20/07/2021 Author : th7dmw Click : + -
        New members have been added to the open-source territory of Weizhong bank's blockchain. This time, we want to realize cross industry, cross institutional and cross regional interconnection between different blockchains, so that trust can be transmitted in a wider range. The new member is named wecross, which is a cross chain collaboration platform of blockchain. It is independently developed and fully open-source by the blockchain team of wechat bank. At present, wecross has completed the development and release of v1.0.0-rc1, and supports many mainstream open-source blockchains in the market, such as fiscobcos and hyperledger fabric. Through open source construction, wecross will gradually connect more blockchain platforms and applications.
 
        Based on this design concept, wecross innovatively proposed four core technologies, namely UBI general blockchain interface, hip heterogeneous chain interconnection protocol, TTM trusted transaction mechanism and MIG multilateral cross domain governance, which realized efficient, safe, reliable and convenient governance of cross chain interaction. In terms of application scenarios, wecross has put forward targeted solutions for specific application scenarios such as judicial cross domain arbitration, Internet of things cross platform linkage, digital asset exchange, and individual data cross domain authorization. In the future, as the infrastructure for the interconnection of distributed commercial blockchains, wecross will continue to promote value exchange and business cooperation across industries, institutions and regions, and promote the deep integration and development of blockchain application ecology.
 
        According to the wecross white paper, with the rapid development of the blockchain industry in recent years, many different underlying technology platforms have been born. The blockchain applications built on these platforms are blooming. Due to the multi-dimensional heterogeneity in the technology implementation of the blockchain platform and the "island effect" in the application and data, it is difficult for different applications built on different platforms or the same platform to connect and collaborate across platforms conveniently. The evolution of the blockchain ecosystem in the next stage requires an innovative solution of "transcending platforms and linking applications". Cross chain technology is the key to meet this challenge and realize the interconnection between different blockchains.
 
        Previously, there were different alliance chain organizations in the industry. In 2018, Weizhong bank also proposed the concept of "public alliance chain", which further sublimates the alliance chain into an alliance chain that provides services to the public. As the service object of the "chain", the public can access the services provided by the Alliance chain through the public network. However, building trusted cross chain interaction of public alliance chain faces greater challenges. Wecross is not limited to meeting the needs of trusted data exchange after parallel expansion of homogeneous blockchains. It will also further explore effective solutions to the problem that heterogeneous blockchains cannot be interconnected due to the underlying architecture, data structure, interface protocol, security mechanism, etc., and open it to the public.
 
        Statement: the securities times strives to keep the information true and accurate. The contents mentioned in the article are for reference only and do not constitute substantive investment suggestions. Therefore, the operational risk shall be borne by itself. On April 24, the June contract price of crude oil futures in New York surged by 22% for two consecutive trading days, and continued to rise in the Asian trading session. As of the press release, the total number of confirmed cases of COVID-19 in the world is nearly 2.71 million. Since March 31, the United States has added more than 25000 new cases every day for 24 consecutive days, and the total number of confirmed cases has exceeded 890000, accounting for more than 30% of the total number of confirmed cases in the world. In the first quarter, China's automobile production and sales volume were 3.474 million and 3.672 million respectively, down 45.2% and 42.4% year-on-year respectively.
 
        
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