Understanding the Blockchain Transmission Protocol (BTP)
The Blockchain Transmission Protocol (BTP) is a technology that enables compatibility between different blockchains, even if they have distinct algorithms and consensus models.
BTP facilitates service invocation, value transfer, and data exchange across these diverse blockchains.
BTP is particularly useful for token exchanges across multiple blockchains, as it allows for direct exchanges through smart contracts between different blockchains, eliminating the need for intermediaries or trading platforms.
In addition, BTP enables data transfers across partner networks powered by ICONLOOP, such as MyID apps.
MyID, a program that verifies Decentralized ID (DID) credentials on the open ICON Network, leverages BTP to enable its users to send messages to any interconnected private or public network without requiring them to submit their DID credentials and key to each blockchain.
Understanding the ICON Network
The ICON Network aims to address the fragmented nature of the blockchain industry by connecting different blockchains and enabling interoperability among them.
The Blockchain Transmission Protocol (BTP) serves as the platform that facilitates this interoperability.
Building Blocks of the Blockchain Transmission Protocol
The Blockchain Transmission Protocol follows a set of functions and standards to ensure the proper transfer of data while maintaining its validity and integrity.
These standards include
- Message Specifications: All messages transmitted via BTP should include recipient, sender, serial number, service name, and data.
- Message Relayers: Message relayers are applications responsible for retrieving and delivering BTP messages.
- Message Verifiers: Data received from relayers is validated by message verifiers to ensure its accuracy and authenticity.
- Service Smart Contract (SSC): Verified BTP messages are forwarded to the Service Smart Contract, which executes the transmission from the source blockchain’s smart contract to the destination blockchain’s smart contract.
How the Blockchain Transmission Protocol Works
BTP establishes links between two chains, and these linked chains can further connect with additional chains, creating a network of interconnected and interoperable blockchains.
Furthermore, BTP enables external data validation through smart contracts, making all validation operations accessible and transparent for auditing and verification.
In an asynchronous network, the relayer/sender blockchain can pause data delivery if there is a temporary disruption in the connection.
Once the connection is restored, the data can be recovered and resent without loss.
The Blockchain Transmission Protocol is designed to be flexible, allowing blockchains that do not support smart contracts to participate partially in BTP transactions.
While such blockchains may not act as receiver chains, they can still participate as sender chains.