ContractLand, a framework for the decentralized exchange of cryptocurrency in a multi-chain ecosystem announced this past week the official launch of its Terra Chain mainnet and Terra Bridge. Terra Chain is a high performing application-specific blockchain.
Users can experience almost instant cross-chain transfer on a pure decentralized platform in a pure decentralized method. Designed with Web3.0 in mind, ContractLand builds the infrastructure to provide liquidity of tokenized assets across various blockchains through high performing multi-blockchain technology.
Terra Chain is designed with scalability in mind to support critical mass. It does not implement any inherent functionalities, and offloads the application-specific logic to the application layer. Unlike existing blockchains such as Ethereum or EOS, ContractLand’s blockchain does not allow arbitrary logic execution, but will be dedicated to a single application domain.
Terra Chain is running with PoA consensus, and currently can handle over 3000 TPS. Another exciting feature of Terra Chain is that a DEX built using Terra Cain can have the entirety of the exchange system built on-chain. In other words, it even has an on-chain order matching protocol built in. A pure DEX built this way could provide stronger security guarantee, stronger censorship resistance, and minimize centralized operational risks.
The bridge provides the ability to perform interchain communication in a multi-chain ecosystem. This is a critical component of the framework as it not only allows individual app-chains to communicate with each other, it also opens up the ability for them to communicate with other existing blockchain networks. Terra Bridge does not only allow the end user to make the cross-chain transfer over all the EVM based chains, but also allow the user to transfer bitcoin freely to Ethereum.
More importantly, Terra Bridge itself is also a decentralized system, which is completely independent of Terra Chain. Terra Bridge is also an operation on PoA consensus. Utilizing the bridge, the DEX would open up assets available for trading to all existing blockchain systems instead of being limited to only assets available on the chain the DEX was deployed under.