New Box
New Box
Overview
The core objective of the Open Interchain Protocol is to offer more efficient inter-blockchain swapping of chain-native digital assets through the usage of single-asset vaults and decentralized mechanisms.
There are critical issues in Cross-chain centralised version of the ‘Lock & Mint’.

The easiest to implement cross-chain is the centralised version of the ‘Lock & Mint” where native tokens are given to a central custodian who in turn mints a synthetic version of the token on a target blockchain. The decentralised version requires the usage of decentralized custodians that are properly incentivised to behave appropriately. The majority of bridges, including those proposed by Cosmos and PolkaDot are of the ‘Lock & Mint’ variety.

There are still some critical issues including
1) Slow Speed
2) High Costs
3) High Complexity
4) The proliferation of synthetics of the same underlying asset
IJS Open Interchain Protocol
A Transparent and More Capital Efficient End-to-End Interchain Swapping Solution. The interchain protocol is designed to be decentralised and extendable. Additional chains can be quickly added by simply deploying the set of contracts on new chains.
Implemented by OpenSwap Community
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