undTransfers

undTransfers is a protocol specification intended to standardize the transfer of units of digital value, denoted UND tokens, across distributed systems and, where supported, across multiple blockchains. It defines a common data model, message formats, and settlement semantics to ensure interoperation between senders, recipients, and intermediaries.

Core concepts include transfer requests, proofs of funds, validation rules, and settlement methods. A transfer begins when a sender signs a transfer object containing amount, currency (UND), source address, destination address, timestamp, and a nonce. The transfer is propagated to verifiers and relays, which check signature validity, balance sufficiency, and policy compliance before the transfer is considered valid.

Settlement can occur on-chain or off-chain, using a lock-and-mint or burn-and-unlock mechanism depending on network architecture. In a typical cross-network setup, funds on the source chain are locked or burned and corresponding units are minted or unlocked on the destination chain. The design favors non-custodial operation and auditable state changes.

Governance and security: undTransfers specifies that updates are managed through a community governance process and requires periodic audits of contract code and validators. Common security considerations include protection against double-spending, replay attacks, and validator misbehavior; defenses include timeouts, cryptographic proofs, and dispute resolution channels.

Applications and status: The protocol is intended for use in cross-chain asset transfers, liquidity bridges, and interoperable wallets that support UND tokens. As of the present, various experimental and production-ready implementations exist, with ongoing development to improve efficiency and security.

See also: cross-chain transfer, token bridge, cryptographic proof, smart contract, UND token.