DeFi’s innovation has brought many practical applications to the industry and promoted the development of open finance. Decentralized exchange (DEX) is a notable example. With the participation and surge of consumers, it has gradually been recognized by the market. The total pledge value of the Ethereum DeFi project has exceeded US$60 billion (DeBank data). However, network congestion and poor scalability have led to high transaction fees. With the emergence of various Layer 2 solutions and the efforts of some side chains such as BSC and HECO, investors now have more choices. However, the barriers between blockchains still limit the use of assets, and Starlink X helps to cope with these restrictions. In order to provide a more efficient and simpler trading method, we compare well-known exchanges on different chains to find the most effective transaction rate for users. In addition, we connect different blockchain networks through cross-chain protocols, and allow users to freely exchange assets without considering network barriers.
What is Starlink X
Starlink X is a cross-chain aggregation protocol incubated by the Starlink X Labs team. The mission of Starlink X is to provide users with cryptocurrency-based financial services, allowing various crypto assets to be exchanged in its decentralized wallet. In addition, it also provides “cross-chain exchange” to realize asset settlement in different networks without considering the limitations of typical blockchain networks. With the vigorous development of decentralized financial protocols (DeFi) and the increasingly mature open financial markets such as lending, exchange, and derivatives, we hope to create a one-stop aggregation exchange platform through Starlink X and decentralized exchanges. Developers and users provide a more free and open trading environment.
Starlink X has a strong background
Starlink X Labs was established in the United States in 2021 and is one of the blockchain development teams of the Starlink system. The core product Starlink X technical service has a good user reputation in the European, American, and Japanese crypto markets, and is committed to providing professional digital asset management tools and services to 150,000 users in more than 40 countries around the world, in Japan, Europe, the United States, and Russia , South Korea and China have more than 40,000 Starlink X communities.
Starlink X breaks the island and realizes the mutual chain of all things in the public chain ecology
Ensure the security of encrypted assets
The StarlinkX cross-chain bridge solution adopts the MPC cross-chain solution. Any cross-chain asset of the user has an independent cross-chain custody address, which avoids the deployment of smart contracts on the chain, the verification logic and security of asset deposits and withdrawals, and centralized transactions. All are basically the same.
At the same time, StarlinkX does not issue any assets, and there is no exchange process between assets, which can ensure the safety of user assets and avoid attacks. And the cross-chain deposit and withdrawal of Starlink XChain assets relies on the exchange’s years of technical experience. After complete testing and verification, the overall model is basically the same as that of the centralized exchange, and it has been fully reviewed by well-known institutions.
The StarlinkX cross-chain bridge has made a complete zero-knowledge proof. In the entire generation and signature process of the private key, the parameters used each time are randomly generated by the node, and the same random numbers will not appear. Cross-chain custody nodes also support rotation. Node rotation will involve the overall migration of custody assets and the re-change of the user’s custody address to ensure that the user’s private key fragments will not be leaked, and the number of nodes in each rotation will not exceed 1/3 .
The StarlinkX Chain cross-chain bridge has been patented in Europe and the United States. Users can generate any public chain recharge address on Starlink X Chain. The private key of the recharge address is completely stored on different nodes in the form of fragments. Each user’s recharge address is independent, and can recharge freely to the escrow address from any place. The transaction and fund details of the cross-chain process are completely visible on the chain. The cross-chain process of any asset of the user is completely transparent. Ensure the safety of user assets and there will be no centralized process.
Support any asset cross-chain
The Starlink X Chain cross-chain bridge is currently the only cross-chain bridge that can support all public chains on the market. It supports unlimited cross-chain of any asset, helping DeFi project assets to circulate safely and freely among public chains; at the same time, it is based on multi-chain mapping. It can be used as a cross-chain version of CRV to help decentralized circulation of cross-chain assets for any project and users, help each project achieve a unified multi-chain economic system, and establish a complete and in-depth ecology.
Support any form of cross-chain
StarlinkX is the only cross-chain bridge that does not limit recharge methods. It can support CEX assets to directly cross-chain, and can directly bring centralized exchange assets into the existing public chain ecology. Because various cross-chain assets are on BSC/HECO and other networks, they rely more on the issuance of centralized exchanges on the chain, not decentralized. Through StarlinkX Chain, BTC and other assets can be mapped and issued on public chains such as ETH/HECO/BSC. Assets are locked in the custodial address on StarlinkX Chain. For every recharge to exchange for a cross-chain mapped BTC, a circulation will be added to the corresponding network. , Add the same mapping assets to the user’s account on StarlinkX Chain at a 1:1 ratio.
Support multiple chains across chains
StarlinkX provides developers with a simple API that allows cross-chain transfer operations. Currently, it supports BTC, ETH, HECO, BSC, DOGE, TRON, Polygon and other public chains, and will soon be connected to xDai, Fantom, Cosmos, Fil Wait for the public chain. The way to achieve this is that StarlinkX will maintain the liquidity of tokens on two chains. After receiving user tokens on one chain, transfer tokens on the other chain. If there is too much one-way output, it will automatically balance the flow. sex.
Due to the need to maintain liquidity, users need to pay liquidity providers when transferring across chains. It can be seen from the cross-chain implementation of Starlink X that the cross-chain transfer fees that users need to pay when transferring funds from one chain to the target chain include the liquidity provider fee (0.1% of the transferred funds) and the user’s payment for Starlink X. The transaction fee for receiving funds from the target chain (related to the gas fee of the target chain).
The StarlinkX cross-chain bridge is not a simple double-chain cross-chain bridge, but a multi-chain cross-chain bridge that can be compatible with multiple heterogeneous chains and isomorphic chains.
The lowest cross-chain fee on the whole network
Compared with the cross-chain fees of other cross-chain bridges, the StarlinkX cross-chain bridge does not charge any additional fees for asset cross-chains, and only charges the corresponding fees for the target public chain for withdrawal, or the gas fee for the recharge source chain.
The StarlinkX cross-chain bridge can help project parties, public chains, wallets, etc. cross-chain assets to achieve decentralized circulation between different ecosystems. As an important part of StarlinkXlab’s decentralized financial strategy, the StarlinkX cross-chain bridge is like the transportation network of the ecosystem, creating the world’s largest multi-chain interconnection and open source ecosystem, and opening a new era of blockchain industry interconnection. The cross-chain bridge is the key technology to realize the interoperability of Wanchain.
In the future, Starlink X will work with the global Starlink community and NASA to jointly build the Starlink X native consensus system to provide underlying asset support for the realization of communication cross-chain and cross-chain settlement systems, and has achieved remarkable results. At the same time, in the face of increasing transaction demands and cross-chain settlement pain points, the StarlinkX advanced chain system has become saturated, and a new generation of industry-wide cross-chain solutions is urgently needed to adapt to new challenges.