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Partisia Blockchain is an innovative privacy public chain featuring MPC technology. It introduces MPC technology solutions into the blockchain system and is based on zero-knowledge proof (ZK) technology and multi-party computing (MPC) solutions to jointly ensure data privacy and auditability without affecting network integrity and security. This means that Partisia Blockchain has better compliance attributes than most on-chain privacy projects and has the potential to be deeply integrated with many Web2 scenarios.
Of course, in addition to compliance, highly composable, and customizable privacy, high interoperability is also one of the important features of the Partisia Blockchain network. Partisia Blockchain has launched a service framework called Oracle and built a series of native cross-chain interoperability tools based on it to lay the foundation for cross-chain interoperability between the network and the outside world.
What is Oracle Service Framework?
In fact, most blockchain networks do not have interoperability capabilities. This is because most blockchains focus on decentralization and security, while weakening interoperability. For example, Ethereum establishes interoperability with other Layer1 and Layer2, usually through a series of cross-chain facilities including cross-chain bridges. In the interaction between Layer2 and Layer1 in the Ethereum ecosystem, it is also highly dependent on the role of the sorter. Therefore, the interaction between chains usually relies on the interoperability components of the three parties to achieve cross-chain interoperability of assets, information, etc.
Although the tripartite cross-chain facilities can be adapted according to the characteristics of different chains and have a certain degree of flexibility, it is usually difficult to balance scalability, security and decentralization. This is also the impossible triangle faced by the cross-chain facilities themselves.
Partisia Blockchain's Oracle Service Framework is a good example. The Oracle Service Framework is a native component in the Partisia Blockchain network. It is driven by different Oracle interoperable nodes. It can not only expand the blockchain functionality to support interaction with external data sources, but also enable Partisia Blockchain to upgrade to a versatile, private, efficient and interconnected digital economy solution.
As a native component of the Partisia Blockchain network, the Oracle Service Framework can obtain native support from the Partisia Blockchain network and inherit all the advantages of the Partisia Blockchain network.
On the one hand, it can not only obtain sufficient security and scalability from the scalable computing power (zk computing nodes are introduced into the network, and distributed off-chain computing power is introduced into the chain), but also can be embedded in a series of functional features including MPC-as-a-Service, unified public and private smart contracts, etc., and adapt to various application scenarios, and can ensure the privacy of information transmission. The Oracle service framework itself follows the Poseidon consensus mechanism of Partisia Blockchain, and with the promotion of the sharding solution, it has excellent efficiency in handling various interoperability tasks.
Therefore, the Oracle service framework backed by the Partisia Blockchain network can inherit all the advantages of the system. Compared with interoperability solutions such as LayerZero, CCIP, and Wormhole, this solution has more outstanding advantages in decentralization, security, and easy scalability.
The Oracle service framework is the native infrastructure of the interoperability system of the Partisia Blockchain network. Based on this, the native staking asset bridge Hermes and Bring Your Own Coin (BYOC) functions are further launched in the network.
About Hermes and BYOC
l Hermes cross-chain bridge
The Hermes cross-chain bridge aims to improve the security of on-chain transactions. With the support of the Oracle service framework, it supports the transfer of pledged assets at a 1:1 ratio on two independent blockchain networks, using a variety of encryption tools and basic economic principles to efficiently and securely display and process the status of two independent blockchains. Its technical path includes:
(1) Double accounting: Ensure that information is persisted on both blockchains and establish space permissions that are easily accessible to all users and node operators; deposits and withdrawals are managed by a group of independently selected Oracle nodes when they expire.
(2) Pledge bridge: The tokens represented by small Oracle constituent nodes act as collateral, and any MPC asset holder can pledge to maintain balance in the event of fraud.
(3) Small Oracle Security Selection: The MPC signature scheme run by the large Oracle (i.e., all available Baker nodes) ensures that the small Oracle selection matches the security of the consensus model; the large Oracle nodes are also responsible for delegating member authentication work to the partner chain to establish a double-security ledger.
As mentioned above, unlike other cross-chain bridges, it can obtain security and efficiency guarantees from the Partisia Blockchain network, which can not only ensure decentralization and security, but also unlimited scalability to ensure that its risks will not increase with the expansion of the scale of cross-chain assets in the network.
Bring Your Own Coin (BYOC) feature
BYOC is a feature that allows customers to pay for usage using their preferred payment method (such as ETH, USDC, etc.), with bridge security ensured by advanced large-scale multi-party computation (MPC) key generation, collateral provided by node operators, and no cumulative risk. First, a user with an ETH wallet creates a user account on the Partisia blockchain, which will hold the BYOC token bridge to create any BYOC twin tokens. BYOC twin tokens (which can only be managed by the user through the Partisia chain) can be simply created by transferring ETH to an MPC-ETH wallet.
Once the account is established, if the user transfers ETH to the MPC-ETH wallet, the BYOC token bridge on the Partisia blockchain will register the transfer, sign the transaction, create a BYOC twin token for ETH, and update the built-in double-entry accounting system to show the user's ETH BYOC twin token balance on the Partisia blockchain account, and the matching ETH balance in the MPC-ETH wallet. From the user's perspective, the BYOC twin token for ETH will immediately appear in the user's Partisia blockchain account, and the user can begin transacting on the Partisia blockchain. The gas fees to fund the transaction will be deducted from the user's account, and the final completion of these payments will be automatically made after about 30 minutes, resulting in the transfer of the ETH twin token to the account of the participating node operator. The BYOC function builds the foundation for the introduction of various types of assets to the chain, and for the introduction of various types of businesses to the Partisia chain.
Currently, BYOC has previously introduced ETH, Polygon USDC, BNB, and USDT (Ethereum) as payment methods.
In the near future, WBTC will also be introduced as a BYOC support token on the Partisia Blockchain, which means that the Partisia Blockchain is also expanding the scalability of the network to the Bitcoin ecosystem and the BTCFi system.