UniLayer’s mainnet is set to launch before the end of the year, ushering in a new age of on-chain interoperability and unleashing the full potential of the broader crypto ecosystem: from DEXs and DAOs to gaming and NFTs. Cross-chain is the future, and UniLayer is at the forefront of this exciting revolution.
The UniLayer network is the culmination of years of development, and has also undergone extensive review and testing on its highly successful testnet network. The interoperable layer-1 network is fully prepared for successive, planned integrations - first with Bitcoin, then other major chains, including Ethereum and Binance Smart Chain, while offering robust support for DApp developers through popular platforms, including MetaMask, Uniswap, and git tools.
UniLayer’s aim is to serve as the all-encompassing, omnichain, infrastructural layer for all major blockchain networks, unique in its on-chain structure and practical in its speed, (low) cost, and (impeccable) security.
Recent tests have shown that the UniLayer network has the potential to handle 10,000 transactions per second (TPS), capable of serving complex, B2B cross-chain projects. UniLayer’s mission has always been to not only unite disparate blockchains on-chain, but bridge the gap between decentralized blockchains and the traditional financial sector.
Revitalizing the Cross-Chain Landscape
While functional bridging and cross-chain arbitrage platforms have existed for some time, they have struggled to meet the requirements of demanding B2B applications, which often require small, rapid, and frequent transactions. Bridges have repeatedly shown their inherent vulnerability, as evidenced by countless hacks and coding flaws.
The UniLayer team recognized the shortcomings of the existing solutions, and addressed these issues in an innovative way, by designing and implementing a new kind of on-chain architecture: physical-level node integration. The UniLayer network consists of nodes that validate network transactions simultaneously on both UniLayer and other, connected networks - such as Bitcoin - supporting cross-chain transactions with a potent combination of speed, security, and flexibility.
With each new network integration, all connected networks gain in cross-chain reach, and, crucially, network integration does not necessitate networks implementing any changes - individual node operators on secondary chains download the necessary software, join the UniLayer network, and begin validating cross-chain transactions to earn ULR (the native token of the UniLayer network). This system of dual validator rewards will propel rapid growth in the UniLayer network.
Bitcoin's Cross-Chain Future
There are two dominant trends in the Web3 space:
- The remarkable expansion of altcoin ecosystems.
- Increasing adoption of Bitcoin by institutions, corporations, and governments.
These two trends are on an inevitable collision course.
New, exciting developments in blockchain technology (on independent networks) are poised to enter the mainstream, while Bitcoin has cemented its status as the “blue chip” cryptocurrency for the foreseeable future.
Nonetheless, the infrastructure to support and enhance both streams of development has not kept pace with the rapid progress of each.
Wrapped Bitcoin: a Flawed Solution
Wrapped Bitcoin (WBTC) has served as a stop-gap for sustainable, broader Bitcoin utility, enabling Bitcoin holders to unlock Bitcoin's liquidity on decentralized exchanges (DEXs) and DeFi platforms. Wrapped Bitcoin was launched in 2019 by a consortium that included Ren and Kyber Network. An ERC-20 token, it relies on a trusted custodian to hold real Bitcoin assets that back Wrapped Bitcoins.
Unfortunately, this introduces systemic vulnerabilities at odds with the original, non-custodial nature of Bitcoin. In fact, during the collapse of FTX, Wrapped Bitcoin briefly depegged from Bitcoin, highlighting WBTC’s inherent instability. Adding to these concerns, a substantial portion of WBTC is held by Binance, which introduces strict Know Your Customer (KYC) requirements to accessing WBTC, diverging from the decentralized, anonymous nature of Bitcoin.
Also, a large number of Bitcoin holders are “purists”, and as such, do not utilize DeFi, steadfast in the conviction that Bitcoin itself is the only “solid” money. Nonetheless, there is still a rapidly growing demand for DApps built on Bitcoin’s technology - especially in light of the advent of ordinals and the BRC-20 token standard. In short, Bitcoin is beginning to be seen as much more than a store of value.
UniLayer’s Bitcoin Integration
UniLayer has been continuously readying for its inaugural mainnet network integration with Bitcoin. UniLayer's distinctive cross-chain framework operates entirely on-chain, marking a significant breakthrough in the evolution of cross-chain technology. Powered by a DPoS (Delegated Proof of Stake) consensus mechanism and UTXO model (like Bitcoin and Cardano), the UniLayer network will serve as a stable bedrock for broad interoperability.
Notably, each cross-chain transaction generates a new address, a feature that enhances both the transparency and security of all cross-chain transactions. UniLayer allows for the transfer of as little as one Satoshi through its network, enabling it to operate as Bitcoin's foremost non-custodial cross-chain platform. This approach stays true to Bitcoin's original intent and design, as open-source code for all to see and join.
Notably, other networks, such as Internet Computer Protocol (ICP) have attempted their own cross-chain solutions with Bitcoin. However, all of these network expansions still rely on RPCs (Remote Procedural Calls), a far less secure and efficient approach compared to UniLayer’s physical-level node integration. Furthermore, many of these networks remain largely centralized.
Universal Interoperability: Unlimited Potential
With new and exciting blockchain projects emerging each year, including recent entrants Sui, Aptos, and Sei, more and more new ventures are planning to launch on multiple chains at once. UniLayer's innovative approach to cross-chain interoperability positions it as a vital player in this ever-evolving space, offering secure, low-cost, on-chain solutions for all major networks.
The countdown to UniLayer’s mainnet launch has begun; it will be gratifying to see the best builders in the space, across multiple blockchains, access the UniLayer network to expand the potential of numerous DApps: from DEXs and DeFi to NFTs and gaming.
To learn more about UniLayer and where we’re headed, visit UniLayer.io.
To stay up to date on our mainnet launch, developments, and partnerships, follow us on Twitter.
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