What is OEC?
TrueChain & OKB Ecosystem Cooperation Proposal
TrueChain is the world’s first public chain to achieve the fPoW-DPos hybrid consensus and has a powerful open-source developer community support. TrueChains provided a
high-performance and high-security public-chain infrastructure for decentralized applications.
OKExChain is a set of open-source blockchain projects developed by OKEx, aiming to promote large-scale commercial applications realization based on blockchain technology. It has drew great attention from developers and users. Therefore, after discussions between TrueChain and OKExChain, both parties decide to develop deeper cooperation, to contribute infrastructure, technologies, and developer ecosystem to realize a greater vision of decentralization and DAPP development.
TrueChain and OKExChain will cooperate on cross-chain assets, OKExChain ecosystem, community activities, global business resource sharing, and etc. TrueChain will support OKExChain’s existing ERC20 assets for cross-chain transactions and other payment scenarios.
1. TrueChain & OKExchain Heterogeneous Cross-Chain Ecosystem Cooperation Plan
TrueChain will become OKExChain’s heterogeneous decentralization cross-chain relay chain, enabling assets on Ethereum chain to be linked with OKChian via TrueChain. Transfer assets completely.
1.2.1 Current OKExChain Features
OKExChain adopts Cosmos-SDK implementation, and the heterogeneous cross-chain (such as the cross-chain with Ethereum) in this scheme is mainly based on the “federal system”
architecture. Essentially, it collects the vote of the relay chain verifier to achieve cross-chain assets which introduces more trust issues. This method heavily relies on the honesty of verifiers to ensure credibility of cross-chain transactions. This solution is implemented on a mechanism instead of a cryptographic scheme. It is sufficient in terms of adaptability. However, for core asset chains such as Ethereum, when a large amount of assets are transferred cross chain, this will amplify the benefits for attacks. In other words, it will amplify risks.
We believe that this solution is not perfect and safe for OKExChain’s current large-scale ecosystem, which will bury hidden dangers for the future development.
lay hidden dangers for the future development of the public chain ecology.
Current Pain Spots:
a. Cosmos relay chain solution’s maintenance costs and the relay chain security problem will potentially result in a mainchain asset security problem.
b. The cost for cross chain is high, and the translation rate is low.
c. The architecture is complex which leads to poor overall anti-risk capability and the more vulnerabilities of attacks.
1.2.2 TrueChain Proposed Solution
TrueChain has implemented a heterogeneous decentralization cross-chain with Ethereum, after working with OKExChain, TrueChian will implementate is cross-chain with OKExChain. At the same time, OKExChain became a TrueChain node, responsible for monitoring OKExChain’s cross-chain assets and guiding the TrueChain developer ecosystem to OKExchain.
2.1 Public Chain Ecosystem and Developers
Public chain ecosystem developments need to build corresponding products and infrastructure services for both users and developers. For users, we need to develop wallet, block explorer, data visualization of the chain, governance tools (node data, vote, proposals), community forums, etc. to provide a better foundation and user experience. For developers, we need to build a basic development file system, supporting SDKs, wallet and plug-in, developer courses, etc. to allow developers to quickly start their developments and reduce the learning costs.
2.2 TrueChain Solution
TrueChain offers OKExChain the above-mentioned wallets, block explorer, data visualization of the chain, governance tools (super-node data, vote, proposals), community forums, basic development file system, supporting SDKs, wallet and plug-in, developer courses. In addition, TrueChain ecosystem developers will join OKExChain to quickly bring mature developers and team to the OKExChain ecosystem.