Wanchain, a decentralized blockchain interoperability solution, has its XFlows service for native token transfers. Its newest XFlow is between blockchains that settle transactions on Ethereum. This also includes platforms where ETH exists natively.
Wanchain remains one of the leaders in interoperability and has announced a series of partnerships in the past few months. Wanchain’s XFlow service is a game changer as it will support ETH transfers between Ethereum, Arbitrum, Optimism, and Polygon. XFlows leverage Wanchain’s cross-chain bridges to facilitate non-custodial transfers between chains without any need for centralized exchanges.
What Problem Does XFlows Solve?
The Ethereum blockchain is arguably unrivaled among other chains, aside from Bitcoin. Ethereum serves as the basis for the bulk of DeFi activities and a couple of other trends. Being the first network to introduce smart contracts, Ethereum is home to lots of developers and their applications.
A better way to move $ETH between #Arbitrum, #Ethereum, #Optimism and #Polygon is here with #Wanchain's #ETH #XFlows!
💡 No more week-long waits and extravagant fees when moving between Ethereum and its #Layer2 networks. #WeAreAllConnected
📚 Read more: https://t.co/e1vp2uJASU pic.twitter.com/o20pf6V61M
— Wanchain (@wanchain_org) February 21, 2023
Furthermore, Ethereum now has widespread adoption. However, this growth has some downsides, as the network is often overcrowded and costly. Layer 2 platforms such as Arbitrum, Optimism, and Polygon emerged to solve these challenges.
Each of these Ethereum scaling solutions has in-house bridges for transferring ETH to and from Ethereum. These bridges, although secure, are often slow and expensive.
Furthermore, these bridges only support transactions between themselves and Ethereum and can, in some cases, take more than a week to execute cross-chain transactions. This complicates the process of moving ETH between the various Layer 2 networks and side chains. Given these difficulties, Wanchain’s XFlows offers the perfect answer.
#ETH #XFlows is a decentralised cross-chain solution that enables native-to-native $ETH transfers between blockchains that settle transactions on Ethereum.#Wanchain's ETH #XFlows is now live on #Arbitrum, #Ethereum, #Optimism and #Polygon.
— Wanchain (@wanchain_org) February 21, 2023
Present Routes for XFlows
Direct bridges connecting Arbitrum, Ethereum, Polygon, Wanchain, and Optimism support ETH XFlows. The specific routes include,
- Arbitrum (for ETH)
- Optimism (for ETH)
- Ethereum (for ETH)
- Polygon ERC20
- Wanchain WRC20
Wanchain’s cross-chain infrastructure has helped developers build more decentralized cross-chain applications to power the future of Web3. Click this article to check out our recent update on Wanchain.
⬆️ For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.
⬆️ Our popular Altcoin Buzz Access group generates tons of alpha for our subscribers. And for a limited time, it’s free. Click the link and join the conversation today.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Wanchain. Copyright Altcoin Buzz Pte Ltd.
