Coinweb completes integration of 4 new blockchains delivering along cross-chain interoperability roadmap
Hong Kong – (NewMediaWire) – April 18, 2023 – (ACN Newswire) – Coinweb, a layer-2 protocol that unifies blockchain interoperability, announced the success of integrating four more chains into its extensible blockchain infrastructure. Before BNB, Polygon, MultiversX (formerly known as Elrond) and Kujira; Bitcoin, Bitcoin Cash, Litecoin and Ethereum were already part of Coinweb’s underlying network. To date, Coinweb has performed over 4 million transactions since December 2020, and is responsible for an average of 0.3% of all daily transactions being sent 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 the desired features of multiple chains and the flexibility to seamlessly migrate from one chain to another. Blockchain-agnostic tokens created on LinkMint — Coinweb’s cross-chain tokenization platform will now have the ability to choose to be embedded in any of these underlying chains, moving between them without the need to maintain gas balances for each native layer- 1 token. This removes key bottlenecks in delivering interoperability and breaking blockchains out of their individual silos.
“To prove that projects on Coinweb can run Smart Contract using Ethereum, perform token transactions with MultiversX, store ledger on Bitcoin, and so on, we have identified the optimal network of chains to integrate, improve features and functionalities of platform,” stated Coinweb CEO and 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 about joining a single 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 look forward to this collaboration with Coinweb.” He further stated, “We find our mission to provide simple and cost-effective building tools for everyone resonates with Coinweb’s existing platform and product offering. I believe Kujira will play an important role in enabling Coinweb’s access to the Cosmos ecosystem in a secure and interoperable manner.” manner.”
About Coinweb
The Coinweb protocol is a platform used to run decentralized applications on top of several different blockchains using them as one. This allows application developers to combine the best features and functionalities of each blockchain.
Coinweb Labs is a design and build consulting service that creates custom-built and turnkey solutions for decentralized applications that interact with Web3. Coinweb Labs is responsible for building third-party projects on top of the Coinweb protocol and incubating new projects.
For more informationvisit https://coinweb.io
Twitter: @CoinwebOfficial
Telegram: Coinweb.io
Contact information:
Ain Mohd
+66 6143 28757
[email protected]
