Core Capabilities
Unlocking a spectrum of capabilities for seamless blockchain interactions, our platform offers an array of features tailored for developers. From triggering actions across blockchains to orchestrating token transfers with encoded instructions, these capabilities empower developers to navigate complex tasks efficiently.
Arbitrary Messaging:
What: Trigger actions on one blockchain based on events from another.
How: Transmit flexible data to a smart contract on a different privacy ledger.
Note: Exclusive to smart contract receivers; EVM blockchain EOAs cannot receive messages.
Token Transfer:
What: Transfer tokens to a smart contract or an Externally Owned Account (EOA) on different privacy ledgers.
How: Standard token transfer functionality.
Programmable Token Transfer:
What: Simultaneously transfer tokens and include encoded instructions in one transaction.
How: Exclusive to smart contracts, allowing for coordinated actions alongside token transfers.
Note: Sending both data and tokens to an EOA results in only the token transfer taking place.
Token handling mechanisms
Handling tokens with Raylz involves a process where token pools must exist on both blockchains for a successful transfer. As mentioned in the first chapter of this Masterclass, it's important to note that only supported tokens can be transferred, not all of them.
Technically, tokens aren't directly moved. Instead, they undergo a process of being locked or burned on the source chain and then unlocked or minted on the destination chain.
Understanding how tokens are handled is crucial for token transfers, and each mechanism has its own characteristics with benefits and trade-offs for issuers, holders, and applications.
Burn & Mint:
Tokens are burned on the source chain and minted natively on the destination chain.
Use cases: Tokens with variable total supply, such as stablecoins, synthetic/derivative tokens, and wrapped tokens (from Lock & Mint).
Lock & Mint (Reverse: Burn & Unlock):
Tokens are locked on the source chain and wrapped/synthetic/derivative tokens representing the locked tokens are minted on the destination chain.
Use cases: Tokens minted on a single chain, tokens with encoded constraints (supply/burn/mint).
Last updated