Whitepaper

Last updated: April, 2020

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Abstract

A meta-protocol and blockchain integration solution in the form of a decentralized asset for transacting value across different digital currency systems would allow for ledger and blockchain platforms to be used as a value transfer medium without needing any financial intermediaries. Third party services currently assist users to exchange one form of digital cash or asset for another, but a trusted third party is still required to mediate these transactions. Decentralized exchanges mostly operate on a single chain or else solely between compatible ledgers or blockchains. We propose a solution to the problem of these isolated digital currency systems using a meta-level transfer protocol with an extendable and modular design, making accessible any kind of ledger-based economy or other digital cash system for cross-blockchain and inter-systemic transactions. Many ledger systems have their own form of consensus mechanism. Instead of inventing yet another network infrastructure, the hybrix protocol will enable using the data layer of the underlying infrastructure in conjunction with its consensus mechanism. This makes it possible for instance to ’hijack’ ledger systems and use their combined powers to create a truly cross-ledger asset, with all the benefits of the underlying ecosystems. The underlying ecosystems will also benefit from hosting this protocol. Every hybrix protocol transaction yields profit to these respective ecosystems by paying transaction fees to their network supporting miners and stakers.

Table of contents

1. Introduction
2. Overview
   1. Framework
   2. Assumptions
   3. Definitions
3. Intersystemic Transactions
   1. Structured Data on a Ledger
   2. Creating and Spending a Token
   3. Other Types of Transactions
4. Genesis of a hybrix Asset
   1. Field Definitions
   2. Recipe Verification
   3. Autonomous Distributed Token Minting
5. Mutation of Monetary Supply
6. Validation of Transactions
   1. Validation as a Service
7. Examinations
   1. Validating the Validators
   2. Previously Attempted Solutions
8. Common hybrix Index
9. Deteministic Libraries and API Connectors
10. Conclusion

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