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XinFin teams up with Wanchain & DIMO to create blockchain bridges for its XDC Token

XinFin collaborates with Wanchain and DIMO to build a blockchain bridge for its XDC token and to improve the XinFin ecosystem for its users.

XinFin, a hybrid public-private blockchain, has announced a collaboration with DIMO and Wanchain to build bridges for its XDC token and improve the its ecosystem for its users. A blockchain bridge is a link that allows coins and/or data to be transferred from one blockchain to another. Both chains may have distinct protocols, rules, and governance structures, but the bridge provides a safe means for both chains to interoperate. According to the announcement, the planned blockchain bridges would first connect XDC to Binance Chain, Polygon, Avalanche, and Wanchain, with other blockchains to be added in the future.

XinFin is a hybrid blockchain with public and private states and interoperable smart contracts that is enterprise-grade and EVM compatible. The ecosystem, through its decentralised infrastructure, digitises the global commerce and banking sectors, making the transfer of products and services more efficient and accessible. Because of its hybrid nature, the blockchain may be utilised by governments, businesses, private companies, and individuals who do not require all of their information to be made public. Atul Khekade, co-founder of XinFin, remarked:

“XinFin was born with the intention of reaching what others were not able to. In a world where technology, time, and efficiency become more and more essential, XinFin aims to build a network where enterprises and governments can seamlessly use blockchain resources.”

According to Atul, partnering with Wanchain allows for a broader extension of the XinFin ecosystem. Wanchain will link XinFin’s XDC token to Avalanche, the BNB chain, Polygon, and its own Layer 1 blockchain. This will enable XinFin to completely connect with the blockchains described above and share data and transfer value between them. Atul concluded:

“That is why the collaboration with Wanchain, to bridge XinFin to other platforms, is of crucial importance to achieve the objective of a decentralised and effective global system.” 

Wanchain, founded in 2017, offers consumers superior interoperability solutions for blockchains, allowing the movement of currency and data across them. Wanchain is credited as being one of the first cross-chain solutions in the blockchain world. Wanchai now links over 15 Layer 1 and Layer 2 networks, including but not limited to Arbitrum, Avalanche, Bitcoin, Ethereum, Litecoin, XRP Ledger, Polkadot, XRP Ledger, and XinFin.

With XinFin and Wanchain & DIMO collaboration, Wanchain will assist the XinFin ecosystem in linking and adding other crypto assets to its ecosystem. The bridges will first expose Bitcoin (BTC), Ethereum (ETH), Wanchain (WAN), and other assets to the hybrid blockchain’s expanding ecosystem. DIMO, like XinFin, was founded to incentivize digitisation and data collection on the blockchain.

The collaboration with DIMO will assist XinFin in finding its foothold in global trade. Adding XDC to DIMO bridges supports its ecosystem’s commercial development. DIMO will also campaign for the listing of XDC on other chains, as well as the development of use cases for Wanchain-wrapped assets on XinFin. This increases the general use of blockchain technology and related cryptocurrencies, particularly among retail clients.

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Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.
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