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M-Setu: A multi-chain bridge to synchronize private business processes via public blockchain
Polygon and Infosys Consulting’s collaborative project — M-Setu — provides a bridge for two private enterprise sidechains to inter-operate on public Blockchain like Ethereum in a confidential manner without worrying about the scalability of existing Ethereum infrastructure. The name M-Setu is derived from Polygon’s ability to support Multiple chains like secure chains and standalone Chains, while Setu in Sanskrit means a bridge.
Infosys and Polygon collaborate on various enterprise use cases to leverage existing public blockchain infrastructure. M-Setu helps enterprises to extend their business processes outside of enterprise boundaries in a secure and scalable manner using public Blockchains. Some of the key benefits of M-Setu are:
1. Right Now, Right here
It is not a research project, and enterprise can choose our approach for any appropriate inter-company business processes.
2. Hybrid model
The public-Private model includes benefits of both the openness of a public blockchain and confidentiality of a private network by limiting the access to join a network
3. Faster transactions
Private networks generate the record of transactions that are stored and verified on the public Blockchain. These help in faster transaction speeds.
4. Privacy
M-Setu allows any company to maintain a layer of privacy along with public verifiability of the transactions.
5. Scalability at a lower cost
With the rise of Ethereum (ETH) prices, Enterprises use sidechain by Polygon to get the scalability of transactions like private Blockchain and validating transactions through a trust-minimized network (e.g. Polygon). Polygon uses public checkpointing validators that finally commit it on Ethereum main chain to provide verifiable public proof at a lower cost.
Example use case: InsureChain
InsureChain, an application built on top of M-Setu enables the interoperability between two private blockchains run by two separate insurance issuers. InsureChain leverages the concept of Public-Private…
