Cross-chain technology can grow fast in 1 or 2 years, and the Ether Universe can lead that
Vitalik Buterin, founder of Ethereum, in a recent interview, suggested that cross-chain applications can grow quickly in the near future. Cross-chain technology is a hot topic in 2018 in the field of blockchain technology, as they can remove many of the obstacles that currently impede speed, such as communication isolation and value islanding. However, no large-scale implementation is seen despite many theoretical hypotheses.
For now, BTCreply, Polkadot, COSMOS, and Wanchain have created various types of experiments in this field. In addition, the Ether Universe, whose community size is rapidly reaching 180k, gained great attention. The cross-chain platform is reported to be the first high-performance EOS-based.
ETHER UNIVERSE
Ether Universe ( https://etu.link/ ) is "the world's first decentralized, high-performing cross-chain service platform". The platform is designed to connect different blockchains, allowing users to transact ETH with EOS or otherwise in a decentralized way, not in the exchange market. It features high performance, which will make transactions cheap and fast. Based on EOS.IO, millions of transactions per second can be processed easily, providing liquidity solutions for digital assets better than exchange markets in terms of cost and speed. This may be an important infrastructure in the future.
HOW DOES THE ETHER UNIVERSE WORK?
The developers explain the mechanism behind it:
"The Ether Universe is designed to allow value exchange across different blockchains. To achieve this, we first need to apply a logical subchain based on Ethereum or other blockchain. A logic subchain is created as a software from blockchain, then a two-way anchoring between it and a target blockchain is created to allow for operations including locking. Communication between Ether Universe and EOS basechain is implemented with cross-chain communication features provided by EOS. "
Ether Universe uses a mechanism involving block and witnesses producers in voting to ensure transaction immutability, to protect the trust of the network. When communicating with the EOS network, only 30 seconds is required to confirm the transaction, based on 48 service nodes and the correct proof delegate millions of blocks generated per second. In the future, Ether Universe can handle 10,000 transactions per second.
AIM?
Ether Universe supports value exchange and cross exchange token crosschannels that are different from cross-chain technology. The process does not depend on central authority; it is implemented with a consensus of several blocks. In the future, more and more companies can build their own blockchain platform, implying that cross-chain services may be very important. Ether Universe maintains compatibility with blockchain to connect it.
COMMERCIAL PROSPECTS?
For example, a manufacturer may issue pre-sale pre-sale tokens in the future - say a rubber manufacturer, perhaps deposit some of its products and present its credit record for pre-sale by issuing tokens, which will allow the liquidity of future productive forces when traded on platform including the Ether Universe, and eventually accelerate the development of producers and other traders in the supply chain. Similarly, traditional producers can liquidate their production and assets with blockchain technology. Therefore, the Ether Universe, as the liquidity nexus, is very important, should be carefully evaluated.
WHO'S THE SUPPORTER?
The Ether Universe community has collected 180,000 members (until 22 March 2018). It should be a top-8 community among blockchain projects. According to Google Analytics data posted by Ether Universe on Twitter, members of the community are mainly based in Vietnam, Indonesia, China, South Korea, and Russia.
TOKEN ETU
ETU Tokens are compatible with ERC20, and must be mapped to the EOS mainstream network. The total number of ETU tokens is 100 billion, identical to XRP / Ripple. In terms of community members, the Ether Universe has surpassed the early Ripple records. Ether Universe may be the next Ripple.
ROADMAP
The Ether Universe team indicated that they would publish an alpha release in 2018 Q2, to show their early developments. However, some source code may remain unopened. The beta release should be published in 2018 Q3, which will be the full open source. In 2018 Q4, the beta version should be able to operate in network test, and the first wallet app must have a beta release. And finally, more nodes will be added when the software becomes stable by 2019.