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Spacefold: Connext's submission to The Great Reddit Scaling Bake-Off

Spacefold: Connext's submission to The Great Reddit Scaling Bake-Off

Etherum Reddit

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Spacefold, instant cross-chain communications using Connext

Medium post: https://medium.com/connext/introducing-spacefold-d1c227a29d3

Hello /r/ethereum!

Today, we're excited to introduce our (rather unique) submission to the Reddit Scaling Bake-Off:

https://spacefold.io

Spacefold is a UI on top of Connext which enables cross-chain communication using state channels. It can be used to enable instant on/offboarding from turing complete L2 chains.

Spacefold demonstrates this with:

  • Matic
  • xDai
  • Optimism
  • SKALE (coming soon)
  • Arbitrum (coming soon)

We have a rough compatibility table here, but in general we should be able to support any evm-compatible chain.

What does this have to do with the Reddit Challenge?

We give a thorough explanation here: https://github.com/connext/spacefold#introduction-hold-up-how-does-this-meet-the-reddit-requirements-outlined-above

In short, Connext is a (micro)payment network that enables point-to-point communication about value - and we solve this one specific problem very very well.

We're not a blockchain-based system like other solutions out there (instead, we're structured much more similarly to TCP/IP) and so cannot provide global consensus on Community Point mint and burn actions.

In other words, using Connext for minting and burning Points would mean all user balances have to be private.

We decided to do something a bit different and work with, rather than against, existing L2 solutions to help mitigate some of their tradeoffs. With Connext, users can instantly (<400ms) and trustlessly transfer, on/offramp using Wyre/Moonpay/etc, and even call contracts across chains in a way where *the user never needs to know what chain/rollup/shard they're on.

Because Reddit's requirements are so extensive, we think that they should consider using two or more solutions in conjunction to create a system that is simultaneously:

  • Performant
  • Cost-effective
  • Easy to on/offboard from
  • Interoperable with Ethereum
  • Extensible with low effort -- enabling easy and permissionless development new ecosystems/products/legos on top of Reddit is probably the most exciting part of the decentralized internet!
  • AND ALSO maximally trust-minimized, decentralized, and giving economic security at a level equal to or higher than Ethereum itself.

Spacefold is an example of how layer two works better when it works together.

Resources

We've also tried our best to discuss the requirements laid out by the Reddit team as they apply to us. All of this is available in the repo readme, but here's some quick access links:

submitted by /u/abhuptani
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