Interoperability between different blockchains and their ecosystems has been one of the primary pursuits of the crypto industry for some time now. Most believe that interoperability is one of the necessary prerequisites for blockchain to take the next step in its development. It is without exaggeration that people say that blockchain interoperability is as important as any other technological innovation, regulation, or other development to the future of the industry.
So far, Wanchain has proven itself to be the only truly decentralized cross-chain solution capable of tackling the issue of blockchain interoperability. Because of this, more and more projects have been looking to partner with Wanchain to join its cross-chain ecosystem. Wanchain already supports many of the world's largest cryptocurrencies including Bitcoin, Ethereum, EOSIO, Binance Smart Chain, XRP Ledger, and, of course, Wanchain itself.
The most recent addition to Wanchain’s decentralised cross-chain infrastructure is Litecoin, whose addition represents an important development for both projects. With this integration, Wanchain reinforces its position as the most advanced cross-chain solution in the world, while Litecoin gains smart contract capabilities and the ability to interact with other networks in Wanchain’s expanded ecosystem.
While the Litecoin integration will help Wanchain further strengthen its position as the world’s best interoperability solution, there are many benefits to Litecoin, as well. For example, while Litecoin is a Bitcoin fork, its transactions are both faster and cheaper than the industry leader’s. As such, many believe that LTC has the potential to be Bitcoin’s successor, especially as Bitcoin transitions from being a daily currency to becoming a store of value. This integration adds EVM-compatible smart contract capabilities to LTC’s already near-instant and low-cost transactions, making it a great option to be traded cross-chain.
Furthermore, by adding Litecoin to Wanchain’s ecosystem, LTC users will be able to directly access the blockchain industry’s DeFi sector, which offers countless risk-free solutions for earning money without having to risk it through trading. Finally, users can earn rewards by using their LTC in staking, yield farming, lending, and other DeFi applications.
Details about Wanchain
Wanchain is the world’s premiere decentralised blockchain interoperability solution. Basically, it is a project that aims to push blockchain adoption through interoperability by creating decentralized bridges that connect numerous blockchains across the crypto industry, all of which have unique strengths but have historically been forced to operate in isolation due to a lack of reliable solutions to connect them to other networks.
As such, Wanchain is essentially connecting these existing networks to create the long-promised Web 3.0. Wanchain started building its cross-chain infrastructure back in 2017, during the bull run that attracted countless people to crypto. That year may have been a turning point for many, showing just how much potential cryptocurrencies have, provided that there is enough interest in using them.
Of course, for people to use them, they first need to be useful, and that means connecting different solutions to one another and creating a real network of blockchains.
While Wanchain started working in 2017, it really hit its stride earlier this year when it launched the world’s first decentralised direct bridge connecting Bitcoin and Ethereum. Wanchain also offers bridges to other projects including EOSIO, Wanchain, BSC, and XRP Ledger. After this new Litecoin integration, industry speculation seems to indicate that Polkadot might be the frontrunner to join Wanchain’s growing family.
What Makes Wanchain So Unique?
Of course, Wanchain is not the only project working on blockchain interoperability. However, what makes it stand out from other projects trying to achieve similar goals is the fact that Wanchain is already live on mainnet, is actively being used, and is completely and truly decentralized. In fact, it is the only project of this kind that is 100% decentralized.
All other competitors are either still on testnet, centralized or semi-centralized, which makes them inferior by default in a world that is showing massive amounts of demand for decentralization.
Many view Wanchain’s growth as one of the most important developments in the crypto industry, so they are keeping a close eye on the project’s progress. Case in point, the State Grid Corporation of China, the largest utility company in the world, recently selected Wanchain’s technology to build its data management system. As more and more new, previously isolated chains, are added to its cross-chain infrastructure, Wanchain is cementing its position as the world’s leading cross-chain solution.