🔼Interconnection Mechanisms

Interconnection mechanisms refer to the protocols and technologies that enable different blockchain networks to connect, share information, and collaborate. In the context of Ruby Chain, which emphasizes interoperability, there are several interconnection mechanisms in place to facilitate seamless interaction with other blockchain networks, particularly Ethereum. Here are key interconnection mechanisms utilized by Ruby Chain:

1. Multichain Architecture:

   • Ruby Chain adopts a Multichain Architecture, allowing the creation of multiple interconnected sidechains. Each sidechain can operate independently while remaining connected to the main chain. This architecture facilitates the parallel processing of transactions, improving scalability, and enabling interoperability with various blockchains.

2. Interoperable Smart Contracts:

   • Ruby Chain's execution layer utilizes Ethereum Virtual Machine (EVM) for the execution of smart contracts. This ensures compatibility with the existing ecosystem of Ethereum smart contracts. Developers can deploy or port smart contracts from Ethereum to Ruby Chain without significant modifications, promoting interoperability at the application layer.

3. Cross-Chain Asset Transfer:

   • Ruby Chain enables the transfer of assets and tokens between its network and other compatible blockchains, particularly Ethereum. This cross-chain compatibility allows users to seamlessly move assets between different blockchain ecosystems, fostering enhanced liquidity and utility.

4. Token Standards Compatibility:

   • Ruby Chain supports the ERC-20 token standard, which is widely used on the Ethereum blockchain. This compatibility ensures that tokens conforming to the ERC-20 standard on Ethereum can be easily transferred and utilized on Ruby Chain and vice versa.

5. Decentralized Oracles:

   • Oracles are mechanisms that provide external data to smart contracts. Ruby Chain can utilize decentralized oracles to securely and trustlessly obtain information from external sources, further enhancing the interoperability of smart contracts with data beyond the blockchain.

6. Cross-Chain Governance:

   • The governance mechanisms of Ruby Chain, involving RUBY token holders, contribute to cross-chain collaboration. Token holders can participate in decision-making processes that may impact interoperability or collaboration with other blockchains, ensuring that the community has a say in cross-chain governance.

7. Bridge Protocols:

   • Ruby Chain may implement bridge protocols that facilitate the secure movement of assets and information between different blockchains. These bridges act as connectors, allowing for the transfer of assets in a secure and trustless manner.

These interconnection mechanisms collectively contribute to Ruby Chain's goal of creating a blockchain ecosystem that is not siloed but instead interconnected with other networks. By leveraging these mechanisms, Ruby Chain promotes a more collaborative and versatile decentralized environment.