🌉Interoperability

To establish the SMP ecosystem, another important factor is to achieve interoperability with external systems (other blockchains and off-chains) while utilizing blockchain as a core technology. This is because while blockchain provides verifiability for the integrity of internal states, it does not provide a way to verify the integrity of data brought in from outside.

Bridge services, which provide interoperability between different blockchains, and oracle services, which provide interoperability with systems outside the blockchain, are also modules that are vulnerable to attacks such as theft of crypto assets and data tampering.

For early Bitcoin-based cross-chain swaps, cryptographic solutions such as HTLC (Hashed Time-Locked Contract) were explored. However, due to practical issues such as too much time required for swapping, schemes using consensus building by multiple Relayers have become the mainstream for current bridges between EVM-based chains. On the other hand, the Relayers scheme still has issues, such as trust in the operating entity of the bridge, the high risk of attacks, and the lack of a common protocol.

Since solution methods for these interoperability issues continue to evolve day by day, SMP emphasizes a modular structure that does not rely too heavily on specific technologies and aims to improve usability and security by incorporating the most appropriate technology and methods.