The World Wide asset eXchange (WAX) is set to revolutionize the crypto universe with its cross-chain technology.
Image Credit: WAX
What is Cross-Chain Technology?
In layman terms, it is an emerging innovative solution to allow the transmission of information and assets between different blockchains. For eg, a transfer of data from an Ethereum network to a Bitcoin network.
This technology will eliminate the existing incompatibility issue between different blockchains. Therefore, it will allow us to enjoy many benefits of cross-chain transactions. These include increased multi-token transactions due to multi-token wallet systems, enhanced security, reduced costs and improved speed and efficiency.
WAX and cross-chain technology
WAX very well understands all the untapped potential of cross-chain compatibility. So, to strengthen the user experience, the company is developing a method of linking various blockchains. Subsequently, it aims to build the biggest network of protocols that we ever witnessed.
To achieve its goal, WAX is currently building a highly functional bridge to BSC (Binance Smart Chain). This channel will allow players to trade their NFTs irrespective of the token’s origin.
In fact, WAX intends to demonstrate this new technology, through the upcoming P2E game – The Blockchain Brawlers.
Image Credit: Blockchain Brawlers/Twitter
Moreover, the first 100 ” Founder Edition” NFT drops already launched on November 30 at BSC. But the full compatibility will arrive in early 2022. Ultimately, the players will be able to trade between the WAX and Binance blockchain networks
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This article is educational material.
As always, make your own research prior to making any kind of investment.
