🥦Memechain cross-chain protocol

This Memechain cross-chain protocol bridges the original $MC blockchain link with Memechain. This protocol requires a 1:1 ratio of $MC coins to enter or exit Memechain. When users attach their $MC to Memechain, the Memechain protocol generates a wrapped $MC token ($wMC). Conversely, when the user destroys the $wMC token, he can withdraw the MC from the Memechain in a 1:1 ratio. In this context, a cross-chain bridge protocol module will be used to achieve cross-chain transactions. The main features of the cross-chain protocol are:

  1. Decentralized and secure cross-chain support of $MC to Memechain

  2. Generate untrusted keys for threshold signature schemes. The generated individual splits of the signing key will be used to compute the final signed transactions.

  3. The community and third-party partners will also manage the private key to eliminate any risk of a single point of failure.

  4. The protocol governance mechanism supports voting for organizations running on the cross-chain protocol.

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