What is a catalog? Catalog is a solution that allows users to transact Cross-chain with low latency and moderate transaction fees. The catalog attracts many large investment funds such as Multicoin Capital, Amber Group, Bixin Ventures, LedgerPrime, etc. Let’s find out how the project has such attraction in the article below.
Catalog Overview
What is a catalog?
Catalog is a Peer-to-Peer network designed to help Bitcoin or any other digital asset interact seamlessly with Web3. Catalog allows users to instantly and securely transact cross-chain, in addition, Catalog builds a single source of liquidity, thereby eliminating the need for too many different liquidity pools.
First we have the concept of Catalog Account – which is a Non-custodial Account (non-custodial account – quite similar to a Non-custodial Wallet like Metamask) that allows users to store assets from any Blockchain with low latency. We can see that Catalog Account is composed of Normal Account and Instant Account, in which:
- Normal Account includes the functions of a regular Non-custodial Wallet such as non-custodial, support for diverse assets and interaction with the Catalog ecosystem.
- Instant Account also has the same features as Normal Account but will have additional Domain Name Service and more specifically Instant Transfers.
Instant Account’s Instant Transfers allow it to enable instant money transfers and cross-chain transactions. Instant Account’s operating mechanism includes:
- Money comes in: Before users deposit money into their Instant Account, they need to send a request to Guardian, who will confirm the refund in case they themselves stop signing transactions or go offline.
- Money out: When a user wants to send funds to another address, they simply sign the transaction and send it to Guardian. Guardian verified that the transaction was not an attempted double spend and quickly provided a second signature. This mechanism allows cross-chain transactions to take place instantly.
Development Roadmap
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Investor
- The project is invested by a number of reputable investment funds such as Multicoin Capital, Amber Group, Bixin Ventures, LedgerPrime,…
Core Team
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Tokenomics
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Exchanges
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Project Information Channel
Summary
Catalog is a notable project in the Cross-chain segment. Hopefully through this article, everyone can understand more about what a Catalog is?
