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Polygon and Wanchain Join Forces, Usher in New Era of Blockchain Interoperability

Cryptocurrency Dec 07, 2021 09:31AM ET
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Polygon and Wanchain Join Forces, Usher in New Era of Blockchain Interoperability
 
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Polygon and Wanchain are proud to announce a strategic partnership that will drive further adoption of Layer 2 cross-chain bridges and accelerate the development of interoperable blockchain technology as a whole.

To cement Polygon’s position as the leading platform of Ethereum scaling and infrastructure development, Wanchain will deploy direct decentralised cross-chain bridges connecting Polygon and Arbitrum. This Layer 2-to-Layer 2 bridge will complement and enhance Polygon’s growing suite of solutions, including Polygon Hermez, Polygon PoS, Polygon SDK and Polygon Avail.

Wanchain, a decentralised blockchain interoperability solution that connects the world’s isolated blockchain networks, is the only project that enables truly decentralised cross-chain transactions between isolated heterogeneous blockchain networks. Wanchain’s cross-chain infrastructure already supports Bitcoin, Ethereum, Wanchain, EOSIO, Binance Smart Chain, Litecoin, XRP Ledger, Moonriver, Avalanche and Polkadot. The addition of Polygon’s Layer 2 bridges reinforces Wanchain’s position as the world’s most advanced cross-chain solution.

Polygon and Wanchain have a shared vision of decentralised blockchain interoperability. They foresee that multiple Layer 2 solutions will coexist and that, in order to preserve the value of scaling solutions, different Layer 2 blockchains will need to allow assets, data, and commands to transfer directly from one Layer 2 blockchain to another.

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."

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Polygon and Wanchain Join Forces, Usher in New Era of Blockchain Interoperability
 

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