Protocon, Ethereum’s next competitor, announced a new blockchain data structure that vastly enhances the security and performance of cross-chains or bridge technology that connect diverse blockchains.

The new data structure ‘Fact Hash’ efficiently faces the issue of validating whether data has been adequately processed in another blockchain when diverse blockchains are linked, as per the second iteration of the company’s yellow paper released on May 16, 2022. According to the business, the Protocon generates two types of hash values: one with a transaction ID (Fact Hash) and another with disclosed data (Facts) that does not include the digital signature value.

When a token is transferred, for example, only the information that has been disclosed (sender, receiver, the quantity of transfer, time, etc.) is packaged into a hash value—namely Fact Hash—and kept on a blockchain. If the relevant transaction facts are known, as mentioned above, an external party can easily produce a Fact Hash, and a transaction in question can be confirmed as normal by checking whether a value similar to the Fact Hash is saved in a blockchain or not.

Only the owner of a private key can validate a transaction ID, which is the hash value of transaction information in blockchains. A transaction ID usually contains the value of electronic signatures using a private key or secret key. In other words, existing blockchain data processing technologies make it tough for a third party to verify if data has been processed in the blockchain. This methodology can dramatically improve efficiency and security not only in the procedure of side-chain or off-chain but also in the operation of Protocon and heterogeneous blockchains. Hashes can verify whether relevant data was processed on the side-chain or off-chain, and vice versa.

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Source: Prnewswire