Theia Wallet, the world's first cross-chain wallet, recently announced version 1.0 open beta testing and the support of BTC public chain. Theia Wallet is a multi-crypto asset management wallet based on Wanchain's cross-chain technology. It is also the world first user directed ICO launch platform.
Cross-chain is a complicated process, focusing the following three implementation modes.
First, the notary mechanism. A person or a group of trusted groups declare that something has happened on the A-to-B chain. Firstly, it can't be decentralized, and secondly, it is quite difficult to support large amounts of transactions due to trust issues.
Second, the sidechain to the digital crypto assets function like Alipay and WeChat wallet to the asset management, which is to anchor the crypto assets on the main chain to the side chain. However, it is difficult for side-chain wallets to establish cross-chain smart contracts and implement various financial functions.
Moreover, Hash lock is a trigger that sets interoperability between chains A and B, usually appearing as a hash value of a random number to be disclosed. However, it cannot realize the transfer of cross-chain assets and fails to achieve cross-chain contracts.
In the cross-chain mechanism of Wanchain, the cross-chain transaction proves that the node is not a single entity but a consensus group. Based on Wanchain's cross chain technology, Theia Wallet has used the cross-chain technology thoroughly. In terms of security assurance, Theia implements a small consensus by adopting cryptographically secure multiparty computing and thresholding methods. Participants must participate in the calculation to generate the public and private keys for locking accounts.
Theia Wallet has perfected the digital money transaction ecology, filling the market of cross-chain currency exchange in the field of digital money wallets, subverting the existing digital money transaction ecology, and is meaningful to investors and industries.
SOURCE: Theia Wallet
