coincodex.com
Key takeaways:
- Wanchain integrates Polkadot into its growing decentralized crosschain ecosystem
- The newly announced Polkadot integration will allow developers to create DApps on supported blockchains
- DOT tokens can now be exchanged between different chains and used for EVM-compatible smart contracts
Wanchain, arguably the world’s most advanced crosschain solution, has announced the integration with Polkadot, allowing Ethereum, Wanchain, Moonriver, and Avalanche developers to build decentralized applications (DApps) using DOT on listed blockchains.
Wanchain’s new decentralized interoperability solution introduces EVM smart contracts to Polkadot
After successfully integrating Moonriver and Avalanche last month, Wanchain has now added support for Polkadot, the 8th largest cryptocurrency project by market capitalization at current DOT market rates.
The integration of Polkadot to the larger crosschain decentralized finance (DeFi) ecosystem means that Polkadot’s native DOT tokens can now be traded between different blockchains. Additionally, DOT can now also be used with Ethereum Virtual Machine (EVM) compatible smart contracts.
Polkadot was originally designed by Dr. Gavin Wood, one of the co-founders of Ethereum and the inventor of the smart contract programming language Solidity. The network uses a proof-of-stake (PoS) consensus algorithm and uses an innovative multichain architecture to connect diverse blockchains into a single, decentralized, and highly scalable ecosystem.
Wanchain VP of Business Development and Operations, Li Ni, shares the company’s mission of driving blockchain adoption through interoperability:
“We firmly believe that blockchain technology will only gain mainstream adoption once assets, data, commands and users are no longer isolated on a single chain or constrained by a single standard. Last month, Wanchain deployed crosschain bridges connecting Moonriver and Avalanche to the larger crosschain DeFi industry. Now, Wanchain is connecting Polkadot to the rest of the blockchain world.”
Wanchain is a DeFi interoperability solution, which aims to connect isolated and private blockchains to facilitate the easier flow of data, empowers developers with crosschain tools, and expands the utility of cryptocurrencies in general.
Wanchain’s native token, WAN, provides various perks to its holders, such as PoS block rewards, crosschain staking rewards, and lower transaction fees. The price of WAN tokens has increased by nearly 70% in the last 3-month period, with considerable ups and downs along the way. Given the recent integration of Polkadot and a generally positive sentiment permeating the markets, WAN seems poised to rally in the coming weeks.