Pallet allows inter-chain transactions by decoupling contracts from blockchains. Instead of forcing all contracts onto one chain, Pallet offers a Jury per contract, and hence the scalability.
Security
Pallet stake mechanism minimizes rogueness through proper rewards and penalties in the ecosystem.
Scalability
The key to reach scalability is "one contract, one Jury". We use a participant-based design to achieve the consensus.
Zcash
Using zero knowledge proof to provide enhanced privacy
Litecoin
Coin refined from Bitcoin
Ethereum
A cryptocurrency featuring smart contract
Bitcoin
Most widely used cryptocurrency
IOTA
A cryptocurrency featuring zero transaction fee
Application Scenarios
Contracts for ICO
Pallet is versatile in deploying a contract for your Initial Coin Offering. Pallet smart contract can receive tokens from BTC, ETH, and tokens from any supported chain.
Exchange
Traditionally, we need to rely on centralized exchanges to ensure we can exchange safely.
Using Pallet contract, you can build your own exchange. Exchange your bitcoin, ethereum, etc with others safely.
Financial Derivatives
Pallet support inter-chain asset interaction. Based on this
characteristics, developers can write their own contract to create all kinds of financial derivatives on blockchain and cryptocurrencies.
Zcash
With enhanced privacy
Litecoin
Refined from Bitcoin
Ethereum
Smart contract
Bitcoin
Most widely used coin
PALLET features
ABOVE & BEYOND BLOCKCHAINS
Pallet decouples contract execution from underlying blockchains. Contracts are executed on the decoupled contract verifiers, called Jury, which keeps the contract states.
HIGHLY PARALLEL
One Jury per contract, instead of one blockchain for all contracts. Different Pallet contracts run independently.
SECURITY
Pallet consensus protocol uses stake mechanism to incentivize good behaviors and punish scams. Also, Pallet utilizes LLVM-family tools such as compile-time analyses and runtime sanitizers to catch errors and threats in contract execution.
PRODUCTIVITY FOR CONTRACT DEVELOPERS
Pallet supports simplified popular languages and outputs LLVM bitcodes. Writing a contract is less error-prone, thanking to restricted yet familiar language frontends.
Timeline
Developers
Chunwei Chang
Magrady Cheng
Bruce Feynman
Tony Hsu
Ben Huang
Minako Kojima
Steve Liao
BY Lin
Dr. Sitos Lin
Domen Su
Enran Zhou
Q&A
Differences with other inter-chain solution?
Most recent solutions deal with blockchain interoperability by building one trustable adapter for each pair of chains. One popular adapter can be the inter-chain that consists of fully replicated nodes running the same consensus protocol. In comparison, Pallet bridges one chain with others through a decoupled, lightweight, and meta-level smart contract layer. The consensus is reached among the Jurors selected before the contract execution. Jurors responsible for execution have the contract states.
Which blockchain does pallet support?
Many new blockchains are forked from Bitcoin and Ethereum. We are starting with Bitcoin and Ethereum, and then move to other popular blockchains as soon as possible. We encourage community developers to contribute to the bridge with other chains.
What do you mean by decoupling contract?
Decoupling Contract means that the contract execution is decoupled from the blockchain beneath and is done at Pallet level. After execution, contract states are stored in the Jury and/or the blockchain beneath.
Is there any video to show how Pallet protocol works?