Messaging Protocol
Bitcoin and Layer 2 Token Interoperability
A messaging protocol powered by the Auran Network is set to deploy protocol contracts across each targeted blockchain. This setup is designed to facilitate message verification and commitment through a Threshold Signature Scheme (TSS), with transaction fees initially borne by users on the source chain being compensated to nodes in Auran tokens.
The Auran protocol's primary objective is to integrate this messaging framework within the Bitcoin ecosystem, encompassing both Bitcoin and its Layer 2 solutions. The Bitcoin Network can also be linked to the messaging protocol in the future, when some of the emerging smart contract solutions like Arch go live on mainnet. Initially, this integration will unlock new capabilities for transferring Unspent Transaction Outputs (UTXOs) for inscription protocols and normal Bitcoin transactions.
The messaging protocol operates by dispatching a transaction in a designated format on the Bitcoin network or through smart contracts on Bitcoin Layer 2 (L2) networks. Following the confirmation of the transaction and the completion of the confirmation count, the Threshold Signature Scheme (TSS) network queues the message for transmission to the intended network. This mechanism enables the execution of smart contract commands, the locking and unlocking of liquidity or assets, and the development of decentralized finance (DeFi) and bridging solutions, among other functionalities. Auran enhances this framework by constructing its smart contracts atop it, thereby enabling the creation of a central hub contract within the Auran Network. This hub contract interlinks all participating application blockchains, fostering a truly omnichain ecosystem.
Detailed specifications will be outlined individually for each target Virtual Machine (VM).
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