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Unizen Interoperability Protocol (UIP)
Zero Touch, Cost Aggregating and Redundant Digital Asset Interoperability
The Unizen Interoperability Protocol (UIP) is a decentralized and trustless protocol that enables seamless traversal of digital assets across multiple blockchains. It is a construct of interoperability aggregation that ensures interoperability operations are cost-efficient, fast, transparent and secure.UIP locates the best interoperability provider based on speed, asset support, and cost. It is currently integrated with cBridge, Axelar, Stargate, ThorChain and LayerZero with many more to come. These providers use a variety of techniques to enable interoperability, including cross-chain bridging, atomic swaps, and token wrapping.
Architecture UIP is composed of three main layers:
- 1.UIP Core: The UIP Core manages the protocol's resources, including the allocation of interoperability providers.
- 2.UIP Registry: The UIP Registry is a decentralized database that stores information about interoperability providers and their capabilities, including a list of all supported assets, their respective addresses on each blockchain, and the fees associated with each provider.
- 3.UIP Client: The UIP Client communicates with the UIP Core and UIP Registry to initiate interoperability operations using cross-chain bridging, atomic swaps, and token wrapping.
Interoperability Providers Interoperability providers are third-party services integrated with UIP that enable the traversal of digital assets across multiple blockchains. UIP locates the best interoperability provider based on speed, asset support, and cost. They are responsible for ensuring the secure transfer of assets between blockchains.
Asset Support UIP's asset support is based on the asset support of the third-party interoperability providers. UIP supports a wide range of digital assets, including cryptocurrencies, tokens, and stablecoins. Each provider has a different set of assets supported.
Transaction Fees Transaction fees associated with interoperability operations varies between providers, assets and networks. The lowest fees are determined by the UIP Core based on the complexity and duration of the interoperability operation.
Redundancy UIP integrates multiple interoperability providers, which can work together to facilitate interoperability operations. If one provider experiences an outage or security breach, other providers can continue to operate, ensuring the uninterrupted transfer of assets between blockchains. The UIP Core constantly monitors the performance of interoperability providers and adjusts its allocation of resources accordingly.
Conclusion The Unizen Interoperability Protocol (UIP) is a decentralized and trustless protocol that enables seamless and efficient traversal of digital assets across multiple blockchains without any manual user intervention. With its integration of multiple interoperability providers, UIP ensures that users always get the best and most cost-efficient option for their specific asset and blockchain destination. Thanks to its support for a wide range of assets, redundancy, and fee aggregation UIP is well-positioned to be a leading protocol for the next generation of decentralized finance.Unizen users can rest assured that there is always a secure and reliable pathway to transfer their assets between blockchains.