Fujitsu Laboratories, a leading research center and a subsidiary of Japan’s IT giant Fujitsu, has unveiled ConnectionChain, an extension of smart contract technology which interconnects multiple blockchains.
The technology records the series of related transactions on each chain in a dedicated blockchain, or a “connection-type chain,” to link a cryptocurrency exchange into a single transaction process.
This is made possible by adding new nodes to connect blockchains, forming ConnectionChain, “a blockchain used for connecting blockchains.” The block data containing the relevant transaction is extracted from the two blockchains via this connection node, and each transaction process is connected.
This enables the entire series of transactions, including task processing on the ConnectionChain, to be automatically executed as a single smart contract.
Fujitsu Laboratories ran a successful trial of ConnectionChain in a simulated digital currency exchange system. The lab interconnected two blockchains using different architectures to a system for exchanging proprietary cryptocurrencies.
The results confirmed that the transaction records relating to an asset transfer, including the transaction IDs on each blockchain, the amount of assets transferred, and the results of those transactions, were recorded on ConnectionChain as a single transaction. In addition, if a transaction across blockchains were to fail while in progress for reasons such as an inability to pay or settle, the ID and timestamp for the transaction process that returned the assets to their original owner were recorded…
Read Full: Japan’s Fujitsu Labs Unveils Technology For Blockchain Interconnectivity
