Overview
An overview of the BOOLNetwork platform and its relationship to the Polkadot blockchain
What is the BOOLNetwork platform?
BOOLNetwork is a decentralized, secure, and private omnichain interoperability network. The network is permissionless, and anyone can build decentralized Omni protocols such as cross-chain bridges on it, allowing the omnichain (such as heterogeneous chain and oracle machine) to interact seamlessly in a stable, efficient, and low-cost manner.
What is BOL?
BOL is a native asset that helps the BOOLNetwork to build ecology and economic growth. BOL holders can earn rewards, participate in Algorithm consensus and Privacy consensus, and vote on BOOLNetwork's future proposals.
Background of BOOLNetwork
With the development of web3.0, blockchain technology has entered the next stage. To break the barriers between various blockchains and better expand the boundaries of blockchains, cross-chain technology has attracted enormous attention and has also made great progress.
Blockchain technology and business models are still in the early stage. At present, different blockchain projects have insufficient interoperability in information and value transfer, and cannot effectively carry out business mutual trust and collaboration. Each blockchain project has become an information silo and cannot trust each other. The blockchain must leap over to the real value Internet, undertake the mission of transmitting trust, and open the era of interconnection. A universal, efficient and secure cross-chain commercial gateway is needed.
How to solve the information silo problem of the blockchain and realize the asset circulation, information exchange, application collaboration and user sharing between different blockchain platforms has become one of the most important issues in the current blockchain development. However, blockchain cross-chain development is still at a very early stage. Although there are already many projects exploring cross-chain solutions and focusing on solving the interoperability of the blockchain, there is still plenty of room for improvement in terms of versatility and security.
BOOLNetwork and Polkadot
Both BOOLNetwork and Polkadot are designed based on the substrate framework. Although Polkadot is a heterogeneous cross-chain, the cross-chain functionality is limited to the substrate development platform. For existing blockchains not developed by substrate, Polkadot introduces a transfer bridge solution to make up for it. The cross-chain architecture of BoolNetwork is based on the notary technique, without the need to introduce a transfer bridge. BOOLNetwork is so powerful that it could be used as a transfer bridge, an external system of Polkadot, or as the foundation for extending Polkadot's ecosystem. Furthermore, it can also run completely independently, becoming an open-source public chain that can support cross-chain.
Design Principles and Features of BOOLNetwork
BOOLNetwork uses Substrate Framework and Zero-Knowledge Proof Technology to achieve the secure exchange of data and value between heterogeneous blockchains. It is a high-performance, highly interoperable, and highly secure cross-chain underlying platform. The design principles of the BOOLNetwork blockchain are as follows:
High performance.
Parallel computing and parallel storage are adopted. Through the NPOS consensus mechanism, consensus computing is performed in a multi-task parallel manner. Thereby improving the computing performance, which can be expanded to at least thousands of times per second (TPS).
High versatility
Through the decoupling of the infrastructure layer, the application chain can realize the exchange of information or value with other blockchains through heterogeneous adaptation without any requirements, constraints or restrictions.
High security
Highly optimized zero-knowledge proofs and cross-chain communication protocols make heterogeneous cross-chain communication safe and reliable.
High interoperability
One of the design purposes of BOOLNetwork is to allow DAPP and smart contracts on the blockchain to seamlessly trade with data or assets on other chains. Based on the threshold signature technology of TSS, BOOLNetwork has strong cross-chain interoperability, which can transfer ETH, BSC, and other assets to each other in a decentralized way. When more blockchains are connected to BOOLNetwork, the stronger interoperability of BOOLNetwork. When all blockchains can interact seamlessly, it will bring better capital and a better user experience.