Best interoperable blockchain — Libonomy
Truly decentralized interoperability
Libonomy is one of the most ambitious blockchain technology projects right now, it is uniquely designed to provide great scalability, high TPS and unbreakable security at its core. It is different from any other blockchain network as it supports custom smart contracts as well as creation of DEX, DAPPs and other architecture mechanisms that can interact with each other. Libonomy presents a major breakthrough for blockchain industry, Aphelion protocol allows blockchains such as Bitcoin and Ethereum to be interlinked with Libonomy network and users of Libonomy blockchain can directly send their assets from Libonomy to any non-Libonomy blockchain without the need for a central or third-party.
To give Libonomy the ability of interoperability, other blockchain systems, built on top of Aphelion, are clustered, and thus can interact with one another. Libonomy serves as the initial core, and on top of it, at the blockchain layer, the systems that are utilizing the Aphelion protocol, are clustered into different regions.
For blockchains to interact with one another it is necessary for every system that all communication flow must be carried through the Interaction channel. These interaction channels route the traffic between clusters and the core. Whenever Aphelion is being implemented in another blockchain, the protocol manages the configurations for the interaction channel, structuring of the pools and the consensus.
Interaction channel serves to not only enable the future blockchain implementations to be used as an interoperable solution but can also serve the current systems to inject the interaction channel into their systems via Libonomy application layer and carry out the communication back and forth with Libonomy.
Interoperability with Aphelion-powered blockchains
Libonomy acts as a universal hub of multiple blockchains, communities can build their own blockchain by plugging in Aphelion protocol and interact with any other blockchain on the network. Libonomy wallet system supports Libonomy-based digital assets as well as digital assets that Aphelion is compatible with. The community can easily send assets from one Aphelion blockchain to another without the need of any central authority. Instead, transactions happen directly on the chain.
Aphelion protocol is built to be compatible with any future upgrade, and each block in the blockchain is dynamically sized — when the network grows, protocol increases the block size if needed. Using the Aphelion interaction module cluster chains can interact and transfer assets among one another directly. All this is possible using Decision Agent Module (DAM) which is by default injected with every blockchain built on Libonomy. DAM handles the interaction with protocol interaction channels, which structures the data and translates it according to the respective chains.
Transactions from Aphelion to non-Aphelion blockchains
Besides the internal network transactions, Aphelion interoperability module also focuses on transferring assets to and from non-Aphelion powered blockchains built on variants of Proof of Work (POW), Proof of Stake (POS), Delegated Proof of Stake (DPOS) and Byzantine Fault Tolerance (BFT) consensus. One of the greatest benefits of the Aphelion protocol is that it can upgrade the system without any compatibility issues. It’s immensely important for Libonomy when extending the supported blockchain list.
Using Libonomy, the community can create a wallet for a supported chain, for example Libonomy ETH or BTC, then all the community members can use their own LBY wallet with ETH network. In this manner they can interact with Smart Contracts or carry out transactions to ETH and other blockchain. In order to achieve this breakthrough Aphelion protocol includes the methodology of relayers, AI decision agents, virtual voting and multi pooling mechanism. Using these approaches, Libonomy is able to interact with other blockchains without the need to create the system in a centralized manner.
Whenever a transaction to a non-Aphelion blockchain is to be carried out, first the system collects the information about the transaction from the user, and then it passes it to the relayer. Relayer is responsible for restructuring the transaction according to the blockchain needs and translating it using DAM. The restructured transaction is then passed on to the Aphelion protocol where nodes in the Power pool validate the transaction. After a successful validation, the transaction is broadcasted with relaying modules to the respective blockchain, and confirmation is awaited. As soon as the transaction is included in the blockchain, the relayer passes the details to the Libonomy pool where nodes include this non-Aphelion blockchain verified transaction to the Libonomy main chain. In this way the Libonomy chain is completely transparent and no malicious activity can be carried out in this regard.
Blockchains have been working in silos, separate from one another. The gap between them has further become a hindrance to move blockchain technology forward, it has halted the communication and merging of great ideas. Libonomy presents a trustworthy and transparent network which not only replaces the antique consensus algorithms, but also solves another issue, and that’s decentralized cross-chain interoperability. And Aphelion interoperability is not limited to just public blockchains, by utilizing DAM private chains can benefit as well, opening the doors for countless projects to be finally realized.