IBC is a decentralized distributed sharing system based on blockchain. To achieve this complex project, we designed a specific three-in-one architecture to manage the main chain, storage chain and computing side chains, and to provide incentives for agreement in the Byzantine environment.
Bitcoin has received a lot of attention in the decentralized cryptocurrency ledger space since 2009. At the same time, the PoW consensus mechanism is difficult to adapt to new demands and innovations. In order to maintain the advantages of blockchain and make it lightweight, fast and extensible, we propose a new design, namely the three-chain architecture that includes two layers of blockchain (main chain and side chain). This new system makes it easier to provide cross-chain interoperability support for assets, data, and information. In addition, side chains only carry data storage and computing tasks, so technological innovation is unimpeded.
In IBC, the main chain is similar to bitcoin and ethereum in that it stores account books and asset information, such as status, transactions, receipts, and smart contracts. A main chain is good for storing small amounts of information because it is immutable. In order to support complex data structure and computing information, we proposed two side chains:
IBC's architecture draws on Plasma, TrueBit, morpheo and Golem. We designed the entire system based on economic incentives to enable miners to maximize the use of idle storage resources and to facilitate the safe storage and use of decentralized data at low cost and convenience.
let's look at communication protocols at a high level by looking at the transaction flow across the entire system between the main chain, the data side chain (DSC), and the computing side chain (CSC).
in IBC, computing side chain (CSC) has a dsc-like structure, which also includes block header, transaction set, IBC network contract and data allocation through hash link. Transactions still use the Merkle tree structure.
Since space-time proofs evolved from many of its ancestors, we will start with the Provable DataPossession (PDP) and then move on to space-time proofs.
in order to allow customers to store data on untrusted servers and verify whether the server stores its original data without retrieving the data, data holding proof is introduced. The model provides the first provably-secure solution for remote data checking.
data side chain (DSC) is established on P2P storage network, such as IPFS and Swarm. The data side chain (DSC) has its own token (data side chain) that can be sent back to the main chain at a defined exchange rate.
in the IBC platform, the concept of distributed storage network (DSN) is introduced, which is a data network aggregation storage provided by multiple independent storage providers and self-coordinates to provide data storage and data retrieval to clients.
in IBC, we have proposed novel proof of storage that allows the storage provider to prove that the data has been copied to its own unique dedicated physical storage.