This article was first published on Wanchain - Medium
Decentralised Layer-2 rollups!
As the Wanchain team continues its dogged march towards truly decentralised blockchain interoperability, it is important to take a moment and remember why connecting the world’s many siloed blockchain networks is an essential undertaking. While the Wanchain team believes that interoperability is required to drive adoption, the reason the team is building fully decentralised bridges is to empower developers to design truly decentralised cross-chain applications to power the future of DeFi. This, ultimately, is in service of end users.
This approach has never been more evident than with Wanchain’s recent “Jupiter” hard fork. The “Jupiter” hard fork made Wanchain fully compatible with Ethereum. Not only did this make Wanchain fully compatible with Ethereum-based DAPPs like MetaMask, it paved the way for Wanchain’s highly anticipated Ethereum Layer-2 solution.
With that, the Wanchain team is incredibly proud to publicly share — for the first time ever — their Ethereum Layer-2 solution!
Wanchain is no stranger to the world of Layer-2 solutions. Indeed, conceptually, Wanchain’s approach to blockchain interoperability shares many similarities with Layer-2. For instance, by building decentralised XRP Ledger — Ethereum and XRP Ledger — Wanchain bridges, Wanchain’s recent XRP Ledger integration solved one of XRP’s enduring shortcomings — an inability to engage with DeFi applications. This, in effect, is a XRP Ledger Layer-2 solution. Similarly, Wanchain’s Ethereum Layer-2 solution — dubbed X-Rollups — solves two of Ethereum’s greatest shortcomings: debilitating network congestion and excessively high transaction costs.
Ethereum primary pain points
No network has been more impacted by the explosion of DeFi as Ethereum. While Ethereum’s importance and influence on the blockchain industry cannot be overstated — Wanchain itself was born of Ethereum, after all — the world’s most widely used smart contract platform has been stretched to its limits. Ethereum, as it exists today, simply cannot process the volume of transactions required at a reasonable cost to end users. Luckily, help is right ...
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Wanchain - Medium