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| Tuesday, 18 April 2023, 14:30 HKT/SGT | |
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Source: Coinweb | |
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HONG KONG, Apr 18, 2023 - (ACN Newswire) - Coinweb, a layer-2 protocol unifying blockchain's interoperability, announced the success of integrating four more chains into its expandable blockchain infrastructure. Prior to BNB, Polygon, MultiversX (formerly known as Elrond) and Kujira; Bitcoin, Bitcoin Cash, Litecoin and Ethereum were already part of Coinweb's underlying networks. To date, Coinweb has executed over 4 million transactions since December 2020, and is responsible for an average of 0.3% of all daily transactions being broadcast to the BNB chain in March 2023.
With these current eight blockchains integrated, Coinweb continues to prove its bold statement of enabling dApps built on top of Coinweb to take advantage of multiple chains' desired features and the flexibility to migrate seamlessly from one chain to another. Blockchain-agnostic tokens that are created on LinkMint -- Coinweb's cross-chain tokenization platform, will now have the option to choose to be embedded in any of these underlying chains, moving between them without the need to hold gas balances of each native layer-1 token. This removes key bottlenecks in delivering interoperability and breaking blockchains out of their individual silos.
"Further proving that projects on Coinweb can run Smart Contract using Ethereum, execute token transactions with MultiversX, store data ledger on Bitcoin, and so on, we have been identifying the optimal mesh of chains to integrate, enhancing features and functionalities of the platform," stated Coinweb CEO & Co-founder Toby Gilbert. "The ability to provide true interoperability without compromising layer-1 consensus is key to delivering blockchain adoption for many large-scale enterprises and blockchain projects that have legitimate concerns tying themselves into one network."
Dove, Co-founder at Kujira, a blockchain built with the Cosmos SDK commented, "As a decentralized ecosystem for protocols, builders and web3 users seeking sustainable FinTech, we are looking forward to this collaboration with Coinweb." He further stated, "We find our mission of providing easy and cost-effective building tools for everyone resonates with Coinweb's existing platform and product offerings. I believe Kujira will play an important role in enabling Coinweb's access to the Cosmos ecosystem in a secure and interoperable manner."
About Coinweb
The Coinweb Protocol is a platform used to run decentralised applications on top of multiple different blockchains using them as one. This allows developers of applications to combine the best properties and functionalities of each blockchain.
Coinweb Labs is a design and build consultancy service that creates custom-built and turnkey solutions for decentralised applications interacting with Web3. Coinweb Labs is responsible for building third-party projects on top of the Coinweb protocol and incubating new projects.
For more information, visit https://coinweb.io
Twitter: @CoinwebOfficial
Telegram: Coinweb.io
Contact information:
Ain Mohd
+66 6143 28757
ain@coinweb.io
Topic: Press release summary
Source: Coinweb
Sectors: Crypto, Exchange, Blockchain Technology, ICOs & Tokens, Startups
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From the Asia Corporate News Network
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