Projected Hedera (EVM) -> Hedera
Overview
The transfer of assets from the EVM chain to Hedera is described by the following sequence diagram.
Steps
1. Initiating the transaction
Alice uses the hashport client (a UI interface) to transfer projected HBAR or HTS tokens from the EVM chain to Hedera. She uses a software crypto wallet (e.g. MetaMask) to sign and send a burn transaction to the Router contract. The transaction will specify Alice's Hedera Account ID to receive their HBAR or HTS tokens.
2. Burn operation
The smart contract transfers the projected tokens from Alice's EVM address and burns them. At the end of the process, a burn event is emitted, containing the information about the burned token, the amount, and the receiver.
3. Picking up the transfer
3.1 Each validator node creates a Schedule Transaction (ScheduleCreate) that transfers the service fee amount from the Fee Account to the list of validators equally and the assets that Alice will receive.
3.2 Only one of these schedule transactions will be successfully submitted, creating a schedule entity. All other scheduled transactions will fail with IDENTICAL_SCHEDULE_ALREADY_CREATED error, and the transaction receipt will include the ScheduleID of the successfully submitted transaction.
3.3 All validators, except for the one that successfully submitted the transaction, will need to submit a ScheduleSign transaction.
You can learn more about Scheduled Transactions here.
4. Unlocking the assets
Once n out of m validators have signed the scheduled transaction, the scheduled transaction will be executed. Each validator will receive 1/m of the service fee and Alice will receive the assets from hashport's Portal Account to her specified Hedera account.