Bytom Mov: The next generation of decentralized cross-chain Layer 2 Value-exchange Protocol
What’s MOV protocol?
MOV is the next generation of decentralized cross-chain Layer 2 value-exchange protocol based on Bystack main-side chain architecture which is made up by Value-exchange Engine Magnet Contract, decentralized Cross-chain Gateway(OFMF) and Layer 2 Vapor to build a diverse asset value-exchange cooperation ecosystem.
You can integrate external assets such as BTC and ETH into Bytom and Bytom sidechain through MOV protocol.
What’s the relationship between MOV, Bytom, and Bystack?
Bystack adapts Bytom-Vapor main-side chain architecture as the underlying architecture.
Bytom is an important underlying infrastructure just like Google builds its own Google service framework and Google map on Android system, Bystack is the business framework built by Bytom Foundation on Bytom-Vapor. Almost components will be used for business and won’t have it open source.
MOV is an external ecosystem which takes Bystack as the template. The successful release of Bystack laid the foundation of MOV protocol implementation and product form.
Why MOV?
With Bystack, Bytom can build an ecosystem which is limited to Bytom internal assets and ecosystem. But the vision of Bytom is to creating diverse assets so we need to integrate other valuable assets into Bytom through cross-chain technology.
In MOV protocol, Vapor will be updated to Vapor Pro to integrate magnet contract based on BUTXO model, build fresh open contract verification consensus, add pluggable module design and provide on-chain oracle service.
What is OFMF
In Bytom-Vapor architecture, we use Federation as the gateway to cross-chain but limits to BTM and assets on BTM. How to cross-chain from other blockchain and ensure the security, manage conveniently and keep it decentralized, these are what OFMF wants to solve.
Gateway is divided into three modules including cross-chain issue/burn, Federation management and main-side chain communication:
cross-chain issue/burn: access to other blockchains, issue corresponding assets when transfer assets to the gateway and then transfer assets to Vapor sidechain through gateway.
Federation management: Decentralized cross-chain assets co-management, manage multi-sig private key generation of various cross-chain assets, storage and signing collaboration, handling collaborative governance between federation nodes.
main-side chain communication: monitor cross-chain transactions between mainchain and sidechain.
What is Magnet?
We all know that smart contract can ensure the security of the assets and the atomicity. Magnet contract can make the whole transaction process atomic.
As the core engine of the whole decentralized value-exchange protocol, Magnet can match BUTXO to construct transactions and then transfer to Bytom core as well as verify the transactions in the blocks to prevent BP cheating.
Conclusion
Through Vapor Pro sidechain in the MOV protocol which provides a high performance, modular, BUTXO-supported contract that can build a brand new open contract verification consensus and provide on-chain oracle services on the blockchain infrastructure.
Through OFMF in MOV protocol, an alliance gateway network system of co-governance and co-management is constructed, which is safe and reliable, flexible in management and decentralized.
Through the Magnet magnet contract in the MOV protocol, users can experience transfer as trading, enjoy low fees, decentralized experience, and exchange of asset value matched on-chain. So as to build a blockchain ecosystem with asset interconnection, decentralization and high scalability, break the island of each blockchain asset and achieve the vision of real diversified assets and programmable economy.
