What is the bridge between Laconic Network and Ethereum?

Laconic is connected to Ethereum via an instance of the Optimos bridge, which are a set of smart contracts deployed on both networks.

The high-level Optimos spec is available here, the background and features are included below:


Background and Features of Optimos Bridge

For a variety of reasons, including the relatively high transaction cost, low transaction confirmation rate, and long transaction confirmation time associated with Ethereum blockchains, it is often desirable to move digital assets to another blockchain that has better cost and/or performance characteristics, typically employing Tendermint/Cosmos proof-of-stake technology.

A range of approaches can be employed to facilitate this cross-chain asset mobility facility, or Bridge. The simplest scheme involves a person or organization trusted to remit funds on one blockchain in response to receiving a corresponding remittance on another chain. This bridge mechanism is custodial in that its operator takes possession of the funds for a time, allowing the potential for theft.

To address this risk, non-custodial bridge mechanisms that couple both blockchains’ consensus to create atomic 2-chain transactions are preferred. However, a simple non-custodial bridge scheme has a weakness in that in order to repatriate to the originating blockchain funds that had previously been moved across the bridge, the bridge must remain in operation. There is a risk that should the bridge cease operation, funds become marooned and irredeemable.

These concerns are addressed by the trust-minimized bridge described below. It has the property that funds originating on one blockchain, designated primary, bridged to another designated the secondary, can never be lost even if both the bridge and the entire secondary blockchain cease operation.

Features

  • Trust-minimized bidirectional transfer of ERC20 asset value from an Ethereum blockchain (primary chain) to and from equivalent voucher assets on a Tendermint/Cosmos blockchain (secondary).
  • Vouchers are fungible and divisible tokens held and traded on the secondary chain, similar to a UTXO, with a constrained lifetime transfer count and trade provenance provable to the primary chain.
  • Bridge latency for both voucher purchase and redemption (fast exit) is on the order of the specified Ethereum block confirmation delay.
  • Forced exit allows legitimately held vouchers to be redeemed directly and independently by the holder in the event of bridge and/or secondary chain failure, after a challenge period has elapsed.
  • Trust anchored to the primary chain through secondary chain’s use of Proof of Stake primary chain funds.

As described, Laconic is the secondary chain, and Ethereum main-net is the primary.

The Laconic Wallet app is where users interact with the bridge and move tokens between the Laconic Network and Ethereum main-net.