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Why TeleportDAO?

Future is Cross-chain

Despite the popularity of blockchain projects, these blockchains often have different characteristics (such as speed, programmability, and levels of security and privacy), each focusing on a particular area or industry. This results in a collection of siloed blockchains, preventing blockchain technology from reaching its full potential.
Over the past few years, blockchains have grown and built their own mature ecosystems. Now, it seems crucial to connect them so their users are able to access other blockchains' ecosystems. In the following, the real-world use cases of TeleportDAO are explained by a few examples. Suppose that Alice has token X on the source chain. Now consider the following scenarios:
  • Alice wants to pay Bob, a merchant who only accepts tokens on the target chain.
  • There is a pool of token X on the target chain that offers better APY in comparison to pools of token X on the source chain.
  • There is no dApp on the source chain (e.g. Bitcoin, Litecoin, etc.), so Alice wants to leverage the target chain dApps.
  • Alice has an NFT on the source chain and wants to get a loan. There is a lending pool on the target chain that accepts NFTs as collateral.
  • Alice has medical data on the source chain and wants to sell it. There is a data marketplace dApp on the target chain where she can sell her data.
  • An application has a cross-chain DAO, so every token holder on any blockchain should be able to vote and participate.
  • A cross-chain application wants to be accessed by users on multiple chains using native currencies of all those blockchains.

Don't Trust Validators

In all these cases, Alice needs an interoperability protocol to move her assets or data to the target chain. Security is a crucial feature of such a protocol. Users using secure blockchains and dApps don't want to risk their assets or data when moving them around in different blockchain ecosystems. They want to maintain the security they had on the original chain. TeleportDAO enables this by directly connecting different blockchains together without the need to add a third layer of oracles or validators to the bridge.
Using validators adds vulnerability to the system. They can get hacked, or they might collude to act maliciously (e.g. submit invalid data or censor transactions) as they are way more centralized than huge blockchains committees. So, they cannot be trusted in such a context.
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Future is Cross-chain
Don't Trust Validators