Saturday, February 4

Polkadot, Moonbeam, Moonriver Now Connected by Wanchain Bridges

Over and above, the interworking platform Wanchain is going to release bridges for Substrate-based assets xcKSM, xcKAR, xcKINT, xcRMRK, xcBNC, and xcKBTC.

Wanchain releases three bridges for Polkadot’s networks

As said by the official announcement shared by Wanchain, its bridge ecosystem now creates a single interoperability space for Polkadot (DOT) Relay Chain and Substrate-focused DeFi networks Moonbeam and Moonriver.

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Specifically, non-custodial bridge mechanisms are activated between Wanchain (WAN) and Moonbeam (GLMR), Moonbeam and Polkadot (DOT), and Moonbeam (GLMR) and Moonriver (MOVR).

With this update, GLMR, MOVR, and DOT assets can be moved via new channels in a seamless and decentralized manner. It advances the liquidity ecosystem, interoperability, and performance status for Polkadot-centric DeFis.

Li Ni, VP of business development and operations at Wanchain, highlights that this use case is of particular importance for Wanchain’s stack of cross-network solutions:

“Creating solutions to connect the most popular blockchains is key for growing the whole blockchain industry. 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.”

Initially, Wanchain developed a similar mechanism for interoperability between Ethereum (ETH) and Bitcoin (BTC), the two largest blockchains.

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xcKSM becomes the first asset of three blockchains

Derek Yoo, the founder of Moonbeam, is certain that this novelty is set to integrate Polkadot, Moonbeam, and Moonriver into a cross-network global crypto ecosystem:

“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 transfers to destinations including Ethereum, Bitcoin, and EOS. We look forward to supporting developers in building multi-chain applications leveraging the Wanchain integration to open new trade routes and new markets of users and assets.”

All assets that are included in the new integration leverage Polkadot’s XCM format and XCMP transport protocol, two major advances of Polkadot’s technology.

Kusama-based xckSM is, therefore, the first-ever token to profit from this huge awareness; it can also be seamlessly moved between Moonriver, Moonbeam, and Wanchain

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