TeleportDAO (TST): A New Era of Cross-Chain Connectivity

 

What is TeleportDAO (TST)?

TeleportDAO (TST) is a blockchain interoperability protocol designed to bridge the gap between different blockchains in a secure and trust-minimized way. In simpler terms, it's a system that allows different blockchains to communicate and share data with each other without relying heavily on third parties. This is crucial for the future of dApps, as it enables easy and convenient interactions between various blockchain ecosystems.

Who Created TeleportDAO (TST)?

TeleportDAO was created by an anonymous team of blockchain enthusiasts and developers who recognized the need for a more secure and efficient way to connect different blockchains.

What VCs Back TeleportDAO (TST)?

While detailed information about specific VC backing is not explicitly provided, it's clear that TeleportDAO has garnered significant interest from the blockchain community. The protocol's innovative approach and potential to revolutionize cross-chain interactions make it an attractive proposition for investors, developers, and users.

How TeleportDAO (TST) Works

Unlike traditional bridges that use a validator-based approach, TeleportDAO employs a light-client verification method. This is a technique used in blockchain technology to verify transactions and data on a blockchain without needing to download and process the entire blockchain. Instead of working with full blockchain data, light clients use a minimal amount of data, typically just the block headers, to verify the inclusion of transactions and the state of the blockchain.

Components

TeleportDAO operates using two main components: the Relay contract and Relayer nodes. Here's a breakdown of how these components work together to ensure secure cross-chain communication:

● Relay Contract: The Relay contract is a smart contract that lives on the target blockchain. Its primary role is to verify data coming from the source blockchain. It acts like a light-client node, meaning it only needs a small portion of the blockchain data (block headers) to verify transactions, rather than the entire blockchain. This makes the process much more efficient and less resource-intensive.

● Relayer Nodes: Relayer nodes are responsible for fetching data from the source blockchain and submitting it to the Relay contract on the target blockchain. Anyone can become a Relayer by running a lightweight script, making the system decentralized and robust. Relayers are incentivized to submit valid data promptly, as they are rewarded when their submitted data is verified and accepted by the Relay contract.

The Process in Action

Here’s how the process works step-by-step:

● Data Submission: Relayers submit block headers from the source blockchain to the Relay contract on the target blockchain.

● Validation: The Relay contract verifies the submitted block headers against the consensus rules of the source blockchain. If the data is valid, it is stored; if it is invalid, it is rejected.

● Incentivization: Relayers are rewarded for submitting valid data. If a Relayer submits invalid data, they lose their transaction fees, discouraging dishonest behavior.

● User Interaction: Users and applications on the target blockchain can query the Relay contract to verify data from the source blockchain. This allows for various cross-chain applications, such as checking user balances or verifying smart contract states.

Special Bridges for Bitcoin and Ethereum

TeleportDAO also offers specialized bridges for Bitcoin and Ethereum.

● Bitcoin Bridge: The TeleportDAO Bitcoin bridge connects Bitcoin with EVM-compatible chains. This bridge is crucial for applications like Bitcoin wrapping, BRC-20 trading, Bitcoin lending, and more. Relayers submit Bitcoin block headers to the Relay contract, which verifies them based on Bitcoin's Proof-of-Work rules. Once a block header is verified, it can be used for various cross-chain interactions.

● Ethereum Bridge: The Ethereum bridge functions as an optimistic light client bridge, connecting Ethereum to other EVM chains. This bridge uses an optimistic approach, where block headers are submitted without immediate verification, followed by a challenge period. This method reduces gas costs and ensures efficient data validation.

TST Goes Live on Bitget

Discover the future of cross-chain interoperability with TeleportDAO’s native token, TST!

Now available for trading on Bitget, TST offers you the opportunity to be part of a revolutionary protocol that connects different blockchains in a secure and efficient way.

How to Trade TST on Bitget

Listing time: June 27, 2024

Step 1: Go to TSTUSDT spot trading page

Step 2: Enter the amount and the type of order, then click Buy/Sell

For detailed instructions on how to spot trade in Bitget, please read The Uncensored Guide To Bitget Spot Trading .

Trade TST on Bitget now!

 

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.