SETU- The Blockchain Bridge
Problem
We are into the new generation of the blockchain in which a lot of blockchains came up with the solution for the problems we were facing in existing chains(Ethereum) Eg: transection rate, safety, speed, etc. Most of the new blockchains are using Rust as the primary programming language for development.
We have already done tons of work on Ethereum(solidity) in the previous few years. Now to get the benefit of the new blockchains we would need to transform the solidity smart contracts to Rust programming language or in native form to the new blockchain..
Solution
Setu is an Ethereum-Compatible Substrate/Polkadot chain on which we can use/deploy our existing Ethereum(solidity) smart contract on the substrate/Polkadot chain. It will help the developers to reuse their existing solidity smart contract and enjoy the benefits of the features of the Polkadot/substrate chain.
Architecture
So as you can see Setu is a substrate/polkadot chain on which we can deploy our solidity smart contract and use it as per our requirement.
Features
Interoperability: We can use the widely used ethereum tools Remix, Truffle, and Hardhat to deploy the smart contract and make transactions on the chain.
Security: Setu is fully secure. As it is developed on polkadot, we can connect it to the polkadot relay chain as parachain and we will automatically get the security of polkadot.
Flexibility: Setu has its personal token which will be used to pay the fee of the transactions on the chain. We can customize all the related things like the gas fees for the transaction.