主讲人Speaker: 李四光     助理教授      香港科技大学（广州）

时间Date & Time: 2026年4月28日（周二），14:30--16:00

地点Venue:粤海校区汇星楼565会议室

内容简介/ Abstract:

Modern blockchain ecosystems comprise many heterogeneous networks, creating a growing need for interoperability. Cross-chain bridges provide the core infrastructure for this interoperability by enabling verifiable state transitions that move assets and liquidity across chains. While prior work has focused mainly on bridge design and security, the system-level and economic consequences of cross-chain liquidity interoperability remain less understood. We present a large-scale empirical measurement study of cross-chain interoperability using a dataset spanning 20 blockchains and 16 major bridge protocols from 2022 to 2025. We model the multi-chain ecosystem as a time-varying weighted hypergraph and introduce two complementary metrics. Structural interoperability captures connectivity created by deployed bridge infrastructure, reflecting bridge coverage and redundancy independent of user behavior. Active interoperability captures realized cross-chain usage, measured by normalized transfer activity. This decomposition separates infrastructure capacity from actual utilization and yields several findings. The cross-chain network evolves from a sparse hub-and-spoke structure into a denser multi-hub core led by EVM-compatible chains. Bridge expansion and chain growth are uneven: some chains achieve broad structural access but limited realized usage, whereas others concentrate activity through a small set of routes. Overall, interoperability provision and interoperability use diverge substantially, showing that connectivity alone does not imply economically meaningful integration. These results provide a measurement framework for understanding how cross-chain infrastructure reshapes blockchain market structure and liquidity organization.

主讲人介绍/Biography of the speaker：

李四光，康奈尔大学经济学博士，于2022年加入香港科技大学（广州）金融科技学域并担任助理教授。曾主持国家自然科学基金青年项目、面上项目和广州市科技局项目。论文发表于Journal of Economic Theory，International Economic Review，Journal of Corporate Finance，Finance Stochastics，《经济研究》和《管理科学学报》等国内外期刊，以及ACM Sigmetrics等计算机顶级会议。其研究领域为人工智能经济学、金融科技、区块链与去中心化金融、网红经济、微观经济理论等。