3. Overview of Cross-chain Architecture
The cross-chain architecture is designed to fully consider the degree of decentralization of nodes. When a main-chain Dapp sends a price request, the proxy node will be responsible for returning the result. The returned data of the proxy node can be easily viewed, verified, and reviewed by others to ensure it’s consistent with the result generated on the Sphinx Hub. This result is a Merkle proof, containing the request parameters, execution time, etc., which is used to verify the existence of the data and to verify the consistency of the decoded results. The agent nodes are operated and maintained by SPX partner nodes in the first stage and can be introduced in a later stage.
Sphinx generates a block every 3 seconds based on the Binance Smart Chain, while the verification node caches the price chain/asset scale chain information generated on the Sphinx Hub. The proxy node can reply immediately upon receiving a price request. The whole request process can be completed within 1 second.
The cross-chain architecture also takes into account data flexibility. Different dimensions of price data are integrated by the validation nodes as required by the DeFi protocol, such as the previously mentioned weighted average or implied volatility calculated from realized volatility, etc.
The cross-chain price request process based on Sphinx is as follows;