What is NeoX and how does it work?
NeoX is a protocol that enables cross-chain interoperability for the NEO blockchain.
It allows for the transfer of assets across different blockchains, allowing users to move assets from one blockchain to another without having to go through a centralized exchange. NeoX works by using a two-layer protocol. The first layer is the Cross-Chain Transaction Protocol (CCTP), which is responsible for creating a secure communication channel between different blockchains.
This layer also provides the necessary cryptographic tools and protocols needed to ensure that transactions are secure and valid. The second layer is the Cross-Chain Asset Exchange Protocol (CAEP). This layer is responsible for facilitating asset transfers between different blockchains.
It does this by creating an atomic swap between two different blockchains, allowing users to exchange assets without having to go through a centralized exchange. In order for NeoX to work, both sides of the transaction must have compatible wallets and nodes that support NeoX. Once both sides have been verified, they can initiate an atomic swap and transfer their assets across different blockchains in a secure manner.
