Wanchain, the world’s premier decentralized blockchain interoperability solution has deployed new bridges connecting Moonbeam, Moonriver, Polkadot, and Wanchain.
In a bid to foster the growth of the blockchain industry, Wanchain has sought to deploy mechanisms that can connect popular blockchains together. Thus, the integrated bridges will see Wanchain (WAN) connecting with Moonbeam (GLMR), Moonbeam connecting with the Polkadot Relay Chain (DOT), and Moonbeam with Moonriver (MOVR).
The VP of Business Development and Operations at Wanchain, Li Ni, expressed this by saying “Creating solutions to connect the most popular blockchains is key for growing the whole blockchain industry.”
He continued while elaborating on the need for the platform’s latest move, saying, ”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.”
Wanchain Facilitates Assets Transfer Across Multiple Ecosystems
Alongside the bridging of GLMR, MOVR, and DOT, the Wide Area Network Chain has revealed that it is also deploying bridges that are compatible with Moonriver’s Substrate cross-chain assets xcKSM, xcKAR, xcKINT, xcRMRK, xcBNC, and xcKBTC. This was triggered by Wanchain’s concern to counter the inability to transfer messages and data from these assets to other ecosystems as they use the Polkadot’s XCM format and XCMP transport protocol which allow parachains to natively send messages between themselves and the Relay Chain.
Nonetheless, the new bridges Wanchain has proposed to deploy will 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.
Speaking on the new development, Derek Yoo, the Founder of Moonbeam said, “The proliferation of chains means that no one interoperability solution can provide connectivity to all destinations.”
“The team at Wanchain has 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,” Yoo added.