XRP is DeFi: an /r/XRP AMA Recap

This article was first published on Wanchain - Medium

Wanchain’s Founder & CEO, Jack Lu, held a very successful AMA in the r/XRP subreddit on June 2nd, 2021. Over the course of about 80 minutes, Jack answered approximately 30 community questions covering a wide variety of topics including blockchain interoperability, the role XRP can play in DeFi, Wanchain’s future, decentralised cross-chain bridges, upcoming partnerships and more!

Overall, the responses to Jack’s answers were extremely positive, with a number of anonymous Redditors gifting him awards. Jack and the entire Wanchain team would like to sincerely thank everyone — from both the Wanchain and XRP communities — who participated and asked such insightful questions. If anyone missed the AMA, all the questions and answers can be viewed in their entirety in the original thread.

Below, we recap a few of best questions and answers from Jack’s AMA!

From u/kodo_rqs:

Q: Do you think competitors such as Flare Network, Polkadot or Interledger are a threat, or can they all work together with Wanchain?

A: I firmly believe that many interoperability projects are going to play a role connecting the world’s countless siloed blockchains. To me, the idea of a singular interoperability project is counter to the very philosophies of interoperability and, indeed, blockchain as a whole.

Beyond this, I think the industry is still too young for the 4–5 legitimate blockchain interoperability projects to waste their energy fighting. There’s more than enough room to work together and for each to carve out a niche. This is already happening to an extent. To give you an example:

  • Flare is focused on connecting its network to non-Turing complete tokens
  • Polkadot is focused on providing out-of-the-box interoperability for its own parachains
  • Cosmos is focused on linking Tendermint chains using IBC
  • Wanchain is focused on decentralised bridges between heterogeneous chains

I believe there will be multiple blockchain networks and eventually all of these networks will be interconnected.


To keep reading, please go to the original article at:
Wanchain - Medium

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