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With Layer 2 scaling solutions such as Arbitrum and Optimism taking center stage in the blockchain development narrative, there is certainly a space where you can find the latest innovations and most exciting advancements at the forefront of distributed ledger technology. is in This comes from its ability to capture consumer needs from a customer-centric perspective, as blockchain is generally seen as the area where blockchain has the highest potential for adoption over traditional Layer 1 solutions. Great value.
Enter Coinweb, a layer 2 cross-chain computation platform that not only provides scalability but also interoperability for multiple blockchains. Maintains all security levels of the underlying Layer 1 blockchain ledger. Coinweb takes a similar approach to the optimistic rollup technology that leading solutions use today, with an architecture, expertly designed products, and a specially developed platform built on the protocol. It goes further with unique innovations in ease-of-use features. use. With a rollout schedule to release the components of this exciting platform starting in November 2022, Coinweb’s full suite of products will break down the barriers that exist between blockchains, ultimately allowing traditional businesses and their It is intended to open up new potential use cases for onboarding purposes. Non-crypto-native customer base.
One of these component products is LinkMint, the world’s first user-friendly cross-chain tokenization platform. The LinkMint platform was recently demonstrated at workshops, collaborative functions, and industry conventions designed to drive technology adoption and enhance consumer interactions that expand the space and value of blockchain capabilities. . This includes how to create and issue bespoke tokens on our layer 2 infrastructure, and how to anchor tokens to a number of layer 1 blockchains. CEO Toby Gilbert explains:
“We have been working for several years to provide solutions to the biggest problems of blockchain, and it has always referred to scalability, interoperability and ease of use. Mass adoption of blockchain technology is possible. To become one, it must be able to provide more accessible and tangible value than current centralized apps and technologies, including being a viable option in practice for a range of use cases. This is exactly what LinkMint offers in its cross-chain token creation interface.”
The use of cross-chain tokens has already been experimented with and implemented for loyalty points, cross-organizational data tracking, and real estate fractionation. Coinweb designs these systems for each specific use case and also takes an active role in developing and collaborating on brand deployments with his partnerships with clients. Coinweb invests further in promising early projects through his ecosystem fund, Coinweb Labs. The creation of an Ecosystem Fund is a natural and natural way to invest in advanced technological areas such as blockchain to provide opportunities and investments for the independent development of innovative products and the as-yet-unseen implementation of new use-case scenarios. Required element.
The seven integrated Layer 1 blockchains include Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Elrond, Binance Chain and Polygon, with plans to continuously connect more chains at a steady pace. Platform users can write their token contracts to one or more of these blockchains. This includes parameters such as publishability, writability and accessibility (whitelist). It can also be designed to incorporate token binding curves. Through the Coinweb Layer 2 protocol, dApps can freely switch underlying chains. This avoids the platform risk that occurs by default when associated with a single blockchain, and future-proofs projects for new or better blockchains that have not yet been implemented. Not yet developed.
Coinweb architecture is designed to support the Web Assembly (WASM) runtime environment. This makes it more compatible with a wide range of programming languages, unifies the developer space by allowing coders to work with each other across industries, and makes it all the same. platform. What this means in practice is too much to say the least. Developers working on a particular blockchain can seamlessly migrate their projects to another blockchain in the event of technical roadblocks or economic collapse. The project manager can also associate the on-chain book value with another native her token or cryptocurrency. Market risk inherent in fluctuating coin price volatility. To point to two obvious examples where this would have made a big difference: projects that were being developed at Terra and, more recently, at Solana following FTX’s epic implosion, were simply Layer 2 could have moved to and continued development in a fully interoperable ecosystem.
The planned introduction of cross-chain liquidity pools creates game-changing innovations and use cases when applying this level of interoperable technology. All of this will be possible after Coinweb’s mainnet goes live. For example, imagine a business that can provide risk management services for developing funds for blockchain projects by hedging on-chain assets across multiple blockchain units. Innovations like this are new horizons that everyone in the cryptocurrency industry can get excited about, and provide quite a bit of light at the end of the seemingly dark tunnel that envelops us today.
Achieving such innovations will undoubtedly be an important milestone for the Coinweb team. In fact, it aims to impact the blockchain industry as a whole, but has been hampered by blockchain silos and the limited interoperability between those different communities. With new and exciting interoperability protocols trying to solve the problem, Coinweb’s technology and Layer 2 execution protocol appear to be the first to simultaneously address scalability bottlenecks in a secure and easy-to-use environment. Designed specifically for businesses to brand with their own customized wallet development. This will allow everyday users to enjoy the benefits and capabilities offered by blockchain over traditional solutions, and businesses leveraging technology to build customer relationships, deliver core value, and drive unique customer experiences. I can concentrate.
Coinweb’s entire future product suite includes not only LinkMint, but also a multi-tenancy wallet, Coinweb’s native decentralized exchange (DeconX), a native bridge with gas tariff abstraction, and full compliance with 200+ platforms. Includes fiat currency ingress and egress gateways. countries around the world. These developments and the best in user interface and experience design come together under his one roof, promising to be a game changer in the industry and enable new use cases across many industry verticals at scale. To do.
Please contact us for more information. [email protected] or visit https://www.coinweb.io Learn how to incorporate these innovations into your business and implement them to benefit your community.