blockchains. This allows for&nbsp;service invocation, value transfer, and data exchange. BTP can be enabled for blockchains with distinct <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-algorithm/">algorithms and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-consensus-mechanism/">consensus mechanisms</strong></a>, creating flexibility.</p>\n<p>BTP is often applied to token exchanges across blockchains and utilizes <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a> to conduct such transactions without a trading platform acting as the middleman.</p>\n<p>BTP can also enable data transfers between different partners powered by ICONLOOP. One of such services, MyID, verifies <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralized-identifier-did/">Decentralized ID (DID)</strong></a> credentials on the open ICON Network. Users can then connect to BTP without having to submit their credentials to other blockchains individually.</p>\n<p>BTP has been utilized as a streamlined solution to <strong>issue certificates for blockchains</strong>. The public ICON network service Broof allows users to create and store validated certificates on-chain. BTP can trigger the ICON Network&rsquo;s smart contract issuing mechanism.</p>\n<p>The validation processes are accessible for auditing or verification since BTP uses smart contracts to validate all external data.</p>\n<p>BTP only links two chains directly. However, these chains may be linked to other chains. This forms a network of interconnected blockchains. It was developed to be versatile.</p>\n<p>Even blockchains that do not enable smart contracts can take part in BTP transactions with some restrictions. For example, such a blockchain may take part as the sender chain but be unable to act as the receiver chain.</p>\n<h2>The ICON Network</h2>\n<p>Blockchain networks typically operate in isolation, as each blockchain has its own ecosystem, <strong>structure</strong>, and consensus mechanism. The ICON Network has been established to connect separate blockchains, making them interoperable. This process occurs via the Blockchain Transmission Protocol (BTP).</p>\n<p>There are certain functions and standards set for BTP to transfer data and maintain its integrity. 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Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":121,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Blockchain-Enabled Smart Lock?","slug":"what-is-blockchain-enabled-smart-lock","section":"B","keyword":"Blockchain-Enabled Smart Lock","status":"published","definition":"smart locks developed using blockchain technology.","content":"<p>A <strong>smart lock</strong> is an <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-internet-of-things/">Internet of things (IoT) device</strong></a> that can be digitally controlled by another device, like a phone or a tablet. While consumer-grade smart locks are growing increasingly popular among customers, they experience issues related to digital security.</p>\n<p>Some of the biggest issues with smart locks are related to their connectivity. Since they typically require WiFi or Bluetooth connection, they can become a vulnerable breach point for any malicious parties.</p>\n<p><strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">Blockchain-enabled smart locks</strong> use <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralization/">decentralized technology</strong></a> to improve the security measures of these devices. They utilize <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a> that contain variables required to lock and unlock the device. Blockchain-enabled smart locks are <strong>highly programmable</strong> and can be easily connected to different payment methods, like <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">digital tokens</strong></a>.</p>\n<p>The addition of blockchain-enabled smart contracts makes the locking-unlocking functionality more versatile and reliable. This is useful for households utilizing smart locks as it ensures people can only access the house with the owners&rsquo; digital permission, and temporary entry codes can be generated as a security measure.</p>\n<p>Since blockchain-enabled smart locks are decentralized, they are inherently very secure. The smart lock can receive instructions from anywhere in the world, and using joint signatures means that additional security infrastructure is not required.</p>\n<p>Blockchain-enabled smart contracts can encounter some issues. They are dependent on a <strong>decentralized network of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-node/">nodes. This means that any loss or interference of connectivity can impact its utility. Losing connection could leave the owner of the smart lock &ldquo;locked out&rdquo; without manual, non-digital access.</p>\n<p>While there are some downsides to blockchain-enabled smart locks, they are a more secure solution compared to traditional smart locks thanks to being highly programmable.</p>","level":"easy","meta_title":"What is Blockchain-Enabled Smart Lock? Definition & Meaning | Crypto Wiki","meta_description":"Blockchain-Enabled Smart Lock meaning: Blockchain-Enabled Smart Lock - smart locks developed using blockchain technology.","meta_keywords":null,"language":"en","created_at":"2022-02-18T07:10:30.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-blockchain-enabled-smart-lock"},"prevSection":{"id":119,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Blockchain 3.0?","slug":"what-is-blockchain-3-0","section":"B","keyword":"Blockchain 3.0","status":"published","definition":"the latest iteration of blockchain technology development.","content":"<p><strong>Blockchain 3.0</strong> is a blockchain upgrade that aims to integrate <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralization/">decentralized technology</strong></a> in a number of industries for performance optimization. Blockchain technology was outlined in the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-whitepaper/">Bitcoin whitepaper</strong></a> in 2008 and successfully utilized for the first time in 2009 with the launch of the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrency.

/n

While at first the blockchain technology was used exclusively for crypto development, it has since been utilized on a far broader scale, with its capabilities being applied in various industries.</p>\n<p>Blockchain technology could impact digital and legacy sectors and reshape data processing systems from the ground up. Blockchain 3.0 aims to integrate the technology into a broader scope of not just professional but also day-to-day uses.</p>\n<p>Some industries have already successfully started adopting blockchain technology to optimize their processes.</p>\n<h3>Healthcare</h3>\n<p>Patient data management and storage can be optimized using blockchain technology. Furthermore, by using blockchain, the intercommunication between healthcare services can be improved, starting at a more local scale and going global.</p>\n<h3>Transport</h3>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-distributed-ledger-technology-dlt/">Distributed ledger technology (DLT)</strong></strong></a>, powered by blockchain, can help improve transportation and delivery services. Blockchain can also be used to track the records of the deliveries. Traceability and accountability can be optimized using ledgers.</p>\n<h3>Voting</h3>\n<p>Public ledgers can be used in voting systems to ensure transparent, accessible, and secure processes.</p>\n<p>The aim of blockchain 3.0 is to advance further into industries outside the financial sector. Tools built using blockchain technology like DLT can be improved and customized to fit the needs of specific markets. One of the main focuses is data management optimization.</p>\n<p>It is expected that blockchain 3.0 integrations in digital systems will happen gradually, as private parties adopt it to utilize for further solution developments. Given that blockchain development so far has seen the rise of cryptocurrencies, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a>, and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-decentralized-applications-dapps/">decentralized apps (dApps)</strong></a>, it is likely that more optimizations are to follow.</p>\n<p>Another aim of blockchain 3.0 is to improve the overall technology, making it more accessible and scalable. Many blockchain projects rely on <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-work-pow/">Proof-of-Work (PoW)</strong></strong></a> systems which consume large amounts of energy and are not completely sustainable.</p>\n<p>Thus, developers are working on applying other <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-consensus-mechanism/">consensus mechanisms</strong></a> to improve blockchain functionality.</p>","level":"medium","meta_title":"What is Blockchain 3.0? Definition & Meaning | Crypto Wiki","meta_description":"Blockchain 3.0 meaning: Blockchain 3.0 - the latest iteration of blockchain technology development.","meta_keywords":null,"language":"en","created_at":"2022-02-18T07:00:28.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-blockchain-3-0"},"currentChapter":"B","currentSection":"what-is-blockchain-transmission-protocol-btp","chapterTitle":"B","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-blockchain-transmission-protocol-btp","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">

Handbook Cover Page
Crypto Terms: Letter B

What is Blockchain Transmission Protocol (BTP)?

Blockchain Transmission Protocol (BTP) MEANING:
Blockchain Transmission Protocol (BTP) - a technology that enables compatibility between diverse blockchains by allowing data exchange and value transfer.
Medium
2 minutes

Let's find out Blockchain Transmission Protocol (BTP) meaning, definition in crypto, what is Blockchain Transmission Protocol (BTP), and all other detailed facts.

Blockchain Transmission Protocol (BTP) is a technology used to enable compatibility between diverse blockchains. This allows for service invocation, value transfer, and data exchange. BTP can be enabled for blockchains with distinct algorithms and consensus mechanisms, creating flexibility.

BTP is often applied to token exchanges across blockchains and utilizes smart contracts to conduct such transactions without a trading platform acting as the middleman.

BTP can also enable data transfers between different partners powered by ICONLOOP. One of such services, MyID, verifies Decentralized ID (DID) credentials on the open ICON Network. Users can then connect to BTP without having to submit their credentials to other blockchains individually.

BTP has been utilized as a streamlined solution to issue certificates for blockchains. The public ICON network service Broof allows users to create and store validated certificates on-chain. BTP can trigger the ICON Network’s smart contract issuing mechanism.

The validation processes are accessible for auditing or verification since BTP uses smart contracts to validate all external data.

BTP only links two chains directly. However, these chains may be linked to other chains. This forms a network of interconnected blockchains. It was developed to be versatile.

Even blockchains that do not enable smart contracts can take part in BTP transactions with some restrictions. For example, such a blockchain may take part as the sender chain but be unable to act as the receiver chain.

The ICON Network

Blockchain networks typically operate in isolation, as each blockchain has its own ecosystem, structure, and consensus mechanism. The ICON Network has been established to connect separate blockchains, making them interoperable. This process occurs via the Blockchain Transmission Protocol (BTP).

There are certain functions and standards set for BTP to transfer data and maintain its integrity. Namely, these are message relayers, message specifications, message verifiers, and service smart contracts.

  • Message Relayers – applications that receive and deliver BTP messages;
  • Message specifications – details that have to be provided in the message: recipients, senders, service names and data, and serial numbers;
  • Message verifiers – functions that validate message data;
  • Service Smart Contract (SSC) – the contract that verified messages are delivered to. SSC executes the transition from the source blockchain smart contract to the destination blockchain smart contract.
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