Perun-X: Efficient Cross-Chain Infrastructure for ONTOCHAIN

ABOUT THE PROJECT

Perun-X: Efficient Cross-Chain Infrastructure for ONTOCHAIN

The Perun-X framework is employed to build a decentral and trustless channel network in which transactions from one ledger to another can be performed at minimal cost. In addition to this feature, the framework allows for arbitrary logic to be executed within a channel, leading to potential cross-chain contracts and more advanced applications for industry and finance. In this setting, the trust assumptions are minimized and incentives for node operators are carefully designed.

Website: https://perun.network

Use case

Motivation for the project:

Blockchain systems become more popular and diverse. Multiple systems emerge and solve different problems. However, they can barely interoperate. With the Perun-X project, PolyCrypt has made it its mission to connect decentral systems in a trustless way using our self-developed frameworks.

Generic use case description:

As an investor willing to exchange funds on-chain or as a company trying to build smart contracts to automate the interactions with several decentralized infrastructures, you require a trust-free and efficient infrastructure.

Essential functionalities:

Creating the software for users and nodes willing to gain revenue for liquidity provision or transfer funds between systems. Moreover, provably secure execution of the transactions from every angle.

How these functionalities can be integrated within the software ecosystem:

Due to the nature of the software at hand, a well-usable interface for users will be accessible with a suitable wallet (i.e. Metamask) and the DApp. Node operators will have a high degree of customizability of their setup. A complex interaction between software other than the respective blockchains will not be needed.

Gap being addressed:

Currently, there is no trustless and efficient option to perform more complex interactions across different blockchain ecosystems.

Expected benefits achieved with the novel technology building blocks:

With Perun-X as our suggested technological choice, we believe that we can realize a system that aligns both the vision of ONTOCHAIN and our vision of a decentralized, open, secure and extendable cross-chain layer.

Potential demonstration scenario:

With the help of the ecosystem, we expect to achieve exposure, allowing innovative applications to be built on top of our interoperability solution which will help us to refine it. There will be a simple demonstrator showcasing cross-chain transfers between two DLTs by utilizing a semantic API.