In an effort to accelerate blockchain technology development as a whole, Polygon and Wanchain are announcing a long-term strategic partnership that will drive the production of Layer 2 cross-chain bridges.
Wanchain will build direct decentralized cross-chain bridges connecting Polygon and Arbitrum to continue cementing Polygon’s position as Ethereum’s leading scaling and infrastructure development platform. Polygon Hermez, Polygon PoS, Polygon SDK, and Polygon Avail will all benefit from this Layer 2-to-Layer 2 bridge.
In enabling truly decentralised cross-chain transactions between isolated heterogeneous blockchain networks, the only project that provides decentralised blockchain interoperability is Wanchain, a decentralised blockchain interoperability solution that connects the world’s isolated blockchain networks. In addition to Bitcoin, Ethereum, Wanchain, EOSIO, Binance Smart Chain, Litecoin, XRP Ledger, Moonriver, Avalanche and Polkadot, Wanchain’s cross-chain infrastructure already supports many other cryptocurrencies. Wanchain now boasts the most advanced cross-chain solution in the world with Polygon’s Layer 2 bridges.
Decentralised blockchain interoperability is a shared vision between Polygon and Wanchain. Multiple Layer 2 blockchains will coexist, and so different Layer 2 blockchains will need to be able to transfer assets, data, and commands directly from one Layer 2 blockchain to another so that scaling solutions can be preserved.
This partnership marks the first instance of using decentralised liquidity pools to power cross-chain bridges. It is an important milestone as the blockchain industry marches towards decentralised cross-chain function calls. This approach differs fundamentally from the industry standard Lock-Mint-Burn-Unlock approach previously formalized by Wanchain.
Li Ni, Wanchain VP of Business Development and Operations, states:
“We recognised that needing to pass through Ethereum when moving from one Layer 2 to another is self-defeating and completely undermines the improved scalability promised by Polygon. Wanchain’s new Layer 2 bridges preserve the high transaction throughput and low costs of Polygon while remaining efficient, versatile and decentralised.”
Sandeep Nailwal, co-founder at Polygon, commented:
“By extending inroads between Abritrum and Polygon PoS, the cross-chain bridge will facilitate better liquidity and utility for ecosystem users on both sides while fostering greater overall interoperability and growth for the Ethereum Ecosystem.”
Original Article can be found at //dailycoin.com/polygon-and-wanchain-join-forces-usher-in-new-era-of-blockchain-interoperability/
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
