London, United Kingdom–(Newsfile Corp. – May 5, 2022) – Wanchain, the global leader for blockchain interoperability solutions, has integrated new bridges that connect respectively Wanchain (WAN) with Moonbeam (GLMR), Moonbeam with the Polkadot Relay Chain (DOT) and Moonbeam with Moonriver (MOVR).
Wanchain Polkadot Bridge
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In addition to bridging GLMR, MOVR and DOT, Wanchain is also deploying bridges that are compatible with Moonriver’s Substrate crosschain assets xcKSM, xcKAR, xcKINT, xcRMRK, xcBNC, and xcKBTC.
These assets use Polkadot’s XCM format and XCMP transport protocol, two innovations which allow parachains to natively send messages between themselves and the Relay Chain. In other words, these are what allow Substrate-native assets to be transferred between a parachain, like Moonbeam and its relay chain, Polkadot, or between other parachains that are connected to the same relay chain. This solution, however, encounters the same obstacles as other heterogeneous Layer 1 networks; messages and data can’t be transferred to other ecosystems. This is where Wanchain comes in. Wanchain’s new bridges pave the way for these assets to be used outside the confines of the Dotsama ecosystem. The first asset to benefit from this is xcKSM, which will be able to move seamlessly between Moonriver, Moonbeam and Wanchain.
Polkadot and Kusama are two blockchains that are independent platforms, yet remain closely related because they are built on the same code base. Numerous parachains powered by Polkadot have a Kusama-based canary network, which means that a seamless connection between Polkadot and Kusama, and each is of vital importance.
True to its mission of creating a completely decentralised crosschain environment for all blockchains, Wanchain is now developing solutions for “Layer 0” blockchains, such as Polkadot, to facilitate interoperability between different environments like Polkadot, Kusama, Ethereum and Avalanche.
After having successfully developed decentralised bridges for key blockchains, such as the first BTC-Ethereum direct bridge, the integration of Layer 0 bridges represents a new era in Wanchain’s mission to drive blockchain adoption through interoperability.
“Creating solutions to connect the most popular blockchains is key for growing the whole blockchain industry,” said Li Ni, VP of Business Development and Operations at Wanchain. “And yet, nowadays, the enormous number of different public and private blockchains demands just as many unique solutions. There is no one-size-fits-all solution. For that reason, we are now focusing on more sophisticated issues that still need to be solved, such as connecting Layer 0 solutions, especially due to the rising popularity of the Dotsama ecosystem.”
“The proliferation of chains means that no one interoperability solution can provide connectivity to all destinations,” said Derek Yoo, Founder of Moonbeam. “The team at Wanchain have a unique solution providing cross chain transactions and asset transfer to destinations including Ethereum, Bitcoin, and EOS. We look forward to supporting developers building multi chain applications leveraging the Wanchain integration to open new trade routes and new markets of users and assets.”
About Moonbeam Network
Moonbeam is the top destination for DApps in Dotsama, as an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. Like Moonriver, its sister parachain on Kusama, Moonbeam is expected to accumulate developer and user activity from the 80+ projects building DApps and protocols on the network. As a parachain on the Polkadot network, Moonbeam benefits from the shared security of the Polkadot Relay Chain and integrations with other chains that are connected to Polkadot. Learn more: https://moonbeam.network/.
True DeFi is interoperable – Wanchain, the Wide Area Network chain, is the world’s premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. This crosschain infrastructure empowers developers to build truly decentralised crosschain applications to power the future of Web3.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122754
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