Wire Network: a solution for blockchain interoperability?

The new spearhead of crypto – L’interoperability of the different blockchains is the Arlésienne of web 3. Often announced by protocols with a lot of marketing, nothing really exists at the moment. Each network has its own wallet and address. With rare exceptions, it is almost impossible to switch from one to the other without tedious manipulation. Today, wire-network allows itself to be discovered and seeks to unite everyone under the single banner of its UPAP protocol.

Interoperability at the center of web 3

If you regularly try new things in cryptosphere, you have probably noticed this. The number of platforms, wallets and manipulations sometimes proves to be daunting. And if you are also a follower of decentralized finance (DeFi) or NFT, it’s the pompom! It’s necessary a wallet for each blockchain and, if by chance there are possibilities to switch from one to the other, you will have to invest yourself by following sometimes complex tutorials.

However, some wallets try to offer several networks, but none makes it possible to embrace all of the existing systems. Unfortunately, this explains why the novice falls back on a centralized platform to buy and store his favorite cryptos. Polkadot Where Cosmos are trying in their own way to move towards interoperability, but this is still only at the embryonic stage. While the new infrastructure blockchain network of wire-network ?

Wire Network enters the interoperability race – Source: Twitter

>> Play it simple, register on FTX the reference of crypto exchanges (affiliate link) <<

Wire Network: towards an original solution

This new network offers an original interoperability protocol called Universal Polymorphic Address Protocol (UPAP) ». This system provides users with access to “a universal wallet address to send and receive NFTs, perform cryptocurrency exchanges and add liquidity pairs on any blockchain”.

Moreover, in a interview, Ken DiCrossthe CEO of Wire Network, said:

“UPAP aims to be decentralized, requires no bridges, no oracles, and offers a low-cost and more secure service against cyberattacks. Moreover, we anticipate the adoption of every channel, portfolio and user. »

Finally, from a technical point of view, the teams specify that:

“Anyone will be able to integrate the UPAP wallet into a blockchain that uses the ECDSA (Elliptic Curve Digital Signature Algorithm) cryptographic algorithm.. Users will simply need to import the mnemonic code from the wallet of their choice and UPAP will create a universal address. Users will thus be able to use it to send and receive any asset on any blockchain. »

So, technical revolution or umpteenth announcement effect of a startup in search of buzz? At present, it is unclear whether the promise will be delivered. Let time do its work and users their experience! But while waiting for a hypothetical new great networksome prefer kindly accumulate bitcoin.

Will you cross the crypto bridge? To not miss the opportunity of a lifetime, register without delay on the FTX reference crypto exchange platform and benefit from a lifetime discount on your trading fees (affiliate link, see conditions on official website).

We want to thank the author of this post for this outstanding web content

Wire Network: a solution for blockchain interoperability?

Visit our social media accounts and also other pages related to themhttps://metfabtech.com/related-pages/