Wanchain and MakerDAO test first ever cross-chain ERC20 token - Wanchain News. Friday, October 12th
Wanchain and MakerDAO test first ever cross-chain ERC20 token
The stablecoin is integrated into the interoperability-focused protocol
Wanchain (WAN) has just announced that the beta phase in the integration of MakerDAO’s stable coin, Dai, on this blockchain project has begun. This way, the team behind Wanchain boasts about powering the “first ever cross-chain” token based on Ethereum’s ERC20 protocol.
According to their Medium post, Dai will rely on Wanchain’s cross-chain ability for exchanging this token for Bitcoin, in a completely decentralized way, as well as “to potentially add Bitcoin to its collateralized debt position in addition to Ether.”
CEO and Co-Founder of MakerDAO, Rune Christensen, expressed his excitement on the announcement of the token entering beta stage, as well as the achievement of the aforementioned milestone, adding that “We believe the integration of Dai on Wanchain plus the launch of Bitcoin Integration on Wanchain could unlock a plethora of use cases, extending to virtually any use case for digital payments leveraging cross-chain functionality.”
Those who wish to participate in the Open Beta Test will have to fill a form and submit it, then they will receive testnet tokens to interact with.
Wanchain 3.0 also goes Beta
Parallel to the announcement, Wanchain also reminded the community that their next update for the network, Wanchain 3.0, has gone Beta, too. Expected to be fully released before the end of this year, this major update will see Bitcoin (BTC) integration, thus allowing the crypto community and Ethereum-based projects to interact with the world’s first blockchain platform.
Trading between BTC and ETH in decentralized exchanges, cross-chain crypto loans, the ability to use Bitcoin in Ethereum-only applications, cross-chain security tokens o stablecoins, are just some of the things this interoperability will enable when it launches in Q4 2018.
Wanchain is a blockchain project aimed to facilitate interoperability between different blockchains, via the use of cross-chain smart contracts, and guaranteeing anonymity for the users. Its current platform, Wanchain 2.0 already enables cross-chain capabilities with the second largest cryptocurrency by market cap, Ethereum.
Other functionalities of this platform allows for the creation of distributed financial applications, so anyone can access to loans, asset exchanges, multi-asset ICOs and more.
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