Blockchain platform Wanchain has launched an advanced interoperability platform, Wanchain 3.0, that features cross-chain transaction capability between Bitcoin and Ethereum.
Cross-chain interoperability is the ability of two different blockchains to essentially ‘talk’ to each other, enabling the transfer of information between multiple blockchains, with many currently running on different protocols.
Similar to how Wide Area Networks (WAN) connected siloed local area networks of the early days of the internet, Wanchain is a platform aiming to connect disparate blockchains to enable decentralised transfer of value between the networks.
Wanchain launched Wanchain 1.0 in January 2018 and is based off the Ethereum blockchain.
In addition to bridging Bitcoin and Ethereum, Wanchain 3.0 also facilitates cross-chain transactions between ERC20 tokens, such as MakerDAO’s DAI and MKR.
“Wanchain 3.0 is our biggest release ever, bringing the network of Bitcoin users to projects and tokens built on Ethereum,” said Wanchain founder and CEO Jack Lu.
“Wanchain continues to be laser-focused on the long term where we see our platform being one of the fundamental components linking all digital assets, in a decentralised, trustless and permissionless manner.”
Wanchain has also recently created a package, WanX, for developers to make the cross-chain transactions more seamless.
“I am very proud of our team for achieving our final 2018 milestone laid out in the initial launch of our company,” Lu said.