UniLayer’s public testnet is now fully live! We have been overwhelmed by the response - it has exceeded all expectations, demonstrating the strength and enthusiasm of our community. In the few short days since our announcement, we have received over 2,000 applications. This explosion of interest proves that there is an incredible demand for our vision of a true, multi-chain future.
Click here to try the testnet out for yourself!
Participants in our testnet will be able to run nodes, deploy smart contracts, and access a faucet that provides native ULR tokens with which to interact with the UniLayer protocol. The UniLayer network is EVM (Ethereum Virtual Machine) -compatible, making it easy for Solidity developers to launch their smart contracts on our network.
This aspect of the UniLayer platform will gain even more significance as we continue to deliver on our plan to add 15 major blockchains to our network, vastly increasing the reach and scope of Solidity-based smart contracts. The increasing innovation of layer 2 solutions, as well as Ethereum’s upcoming 2.0 update, will only expand the enormous implications of UniLayer’s cross-chain support for smart contracts.
UniLayer’s aim is to remove all barriers that exist between networks in the entire blockchain ecosystem.
UniLayer will enable:
- Cross-chain liquidity
- Cross-chain governance
- Cross-chain transfers of NFT assets
- New, innovative, cross-chain DApp development
- Synergetic utilization of the strengths of all blockchain networks
UniLayer’s platform promises to empower current DApps, as well as support and inspire the next generation of DApp development. Existing DApps will gain seamless access to the strengths of all major blockchain networks. Future DApps will arise, tailored specifically to UniLayer’s secure, cross-chain infrastructure.
To get in early to the multi-chain revolution, join our testnet here.
The launch of our testnet is a crucial milestone on UniLayer’s path toward becoming the foremost cross-chain solution in the blockchain ecosystem - one that returns us to the ethos of decentralization that first defined the breakthrough of Bitcoin.
The Interoperability Challenge
The last few years have witnessed an incredible proliferation of discrete blockchains (Ethereum, Solana, Cosmos, etc.). Increasingly, new blockchains are developed with distinct specialities and goals, as well as unique methods to achieve them. No one blockchain can serve all purposes equally, and though many chains have seen enormous growth and adoption, each one is limited by its own autonomy and isolation from the others.
This has led to the rise of a myriad of "patches" to address this problem: bridges, oracles, and other cross-chain, third-party solutions that aim to allow for the transfer of assets, and facilitate open communication between separate blockchains. However, this infrastructure tends to suffer from the weaknesses inherent in all centralized systems. They stray from the principle of decentralization - a principle essential to the very nature and origins of the blockchain. Cross-chain protocols are also often slow, cumbersome, and most importantly: vulnerable to hacks.
In just the first seven months of 2022, hackers stole over $1.2 billion from crypto bridges. This represents over half of all monetary losses in the blockchain space. This is obviously unsustainable, not only because of the enormous harm inflicted upon users and the functionality of the blockchains themselves, but because of the necessity of true security as an essential prerequisite for mass adoption.
True Interoperability: UniLayer
UniLayer’s solution to the interoperability challenge is technologically and conceptually innovative: a paradigm shift; but at the same time, it is a return to the original ethos upon which Bitcoin was first founded.
Rather than introducing outside, centralized elements into the blockchain space, UniLayer uses novel technology to imbed its own nodes in each separate blockchain, ensuring security, speed, and true decentralization for the entire blockchain ecosystem. All cross-chain interactions are recorded on UniLayer’s distributed ledger, making UniLayer a pure blockchain solution for the interoperability problem.
As UniLayer CEO Alex Belets explains:
“The problem is that there is no way to have access to information that is circulated within a chain when you are outside of it. However, the solution is contained within the description of the problem: in order to have access to the information circulated inside of the chain, you must be a part of that chain.”
The Future of the Blockchain Ecosystem
Now more than ever, it is clear that a decentralized solution to cross-chain interoperability is not only necessary, but inevitable, and that is only reinforced by the strong and wide-ranging support shown for UniLayer’s omnichain interoperability platform. The future of the blockchain lies not in the dominion of any one chain, but rather, in the synergy produced by the union of all chains.
“The idea of UniLayer is to unite the blockchains as they are. We are providing connections.”
- Nikita Orlov, one of UniLayer’s lead developers
UniLayer is creating a future in which the current barriers between discrete blockchains will cease to exist, thereby unlocking the full potential of the ecosystem as a whole, fostering a composite system that draws upon the unique architectural strengths of each individual chain. This next step in the blockchain's evolution will play an essential role in true mass adoption, which can only come about with full, decentralized interoperability.
Join our testnet and see for yourself what's next for interoperability.
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