Wanchain

<p>In April 2021, the team at Wanchain launched <a href="https://medium.com/wanchain-foundation/ushering-in-xrps-defi-era-introducing-decentralised-xrp-cross-chain-bridges-d80a97e18f5f" rel="noopener noreferrer nofollow">the world’s first decentralised $XRP bridge</a>, allowing $XRP holders to finally use their $XRP in a variety of DApps on Ethereum and Wanchain’s own sustainable Layer 1 PoS blockchain. Since then, Wanchain has bridged $XRP to several other EVM-compatible chains where users have put their $XRP to work in a variety of staking, farming, lending and gaming applications. Meanwhile, the XRP Ledger (XRPL) has continued to thrive and is now one of the biggest decentralised, public networks in the world.</p><p>Until now, the only XRPL asset supported by Wanchain’s industry-best crosschain bridges was the $XRP itself. That’s no longer the case! Beginning today, users can use Wanchain bridges to move other native XRPL assets across chains!</p><h2 id="header-0">How to XRPL Token crosschain transactions work?</h2><p>Most XRPL token crosschain transactions use a standard lock-mint-burn-unlock mechanism. As a quick reminder, when using the lock-mint-burn-unlock method, a token on the source chain is locked before a mirrored copy, or wrapped-token, is minted on the destination chain. To unlock the original token, the wrapped-token must first be destroyed, or burned.</p><h3 id="an-example-using-gzx">An example using $GZX</h3><p>When a user initiates a crosschain transaction of 1000 $GZX, they will specify a destination chain and a receiving address. They must then send 1000 $GZX to a one-time address (ie. single use address) generated by Wanchain’s bridge nodes. This one-time address supports both standard XRPL address formats, namely:</p><ol><li>the traditional XRPL address format with a Tag ID; and</li><li>the new X address format</li></ol><p>Wanchain’s bridge nodes will monitor this one-time address. Once the bridge nodes have confirmed that the $GZX have been deposited, they will mint 1000 mirrored, or wrapped, $GZX on the destination chain and send them to the specified receiving address. At any point, the user can retrieve the original $GZX on the XRPL by destroying, or burning, the wrapped-$GZX.</p><h2 id="header-1">The first wave: supported tokens and routes</h2><p>This initial upgrade includes four native XRPL tokens: GZX, xBILBx, XList and NVL. All crosschain transcations can be completed using <a href="https://bridge.wanchain.org/" rel="noopener noreferrer nofollow">Wanbridge Web</a>. The specific routes are:</p><p></p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/d4523586633a46b68504da02a64c64f8.png" /><p></p><p><strong>GZX (Green Zone)</strong></p><ul><li>XRPL &lt;&gt; Ethereum</li><li>XRPL &lt;&gt; BNBChain</li><li>XRPL &lt;&gt; XDC Network</li><li>XRPL &lt;&gt; Wanchain</li></ul><p><strong>xBILBx</strong></p><ul><li>XRPL &lt;&gt; XDC Network</li><li>XRPL &lt;&gt; Wanchain</li></ul><p><strong>XList</strong></p><ul><li>XRPL &lt;&gt; XDC Network</li><li>XRPL &lt;&gt; Wanchain</li></ul><p><strong>NVL</strong></p><ul><li>XRPL &lt;&gt; XDC Network</li><li>XRPL &lt;&gt; Wanchain</li></ul><h2 id="header-2">What are XRPL token trust lines?</h2><p>For those unfamiliar with the XRPL, only $XRP can be sent to any address without restriction. To receive other tokens, a user needs to first establish a trust line with a particular asset.</p><p>Trust lines are structures in the XRP Ledger for holding tokens. Trust lines enforce the XRP Ledger’s rule that you cannot cause someone else to hold a token they don’t want. In other words, only after establishing a trust line can a user receive a particular asset. Trust lines record a token’s issuer, currency and limit.</p><h2 id="header-3">XRPL token issuer, currency and limit</h2><p><strong>GZX:</strong></p><ul><li>Issuer: rNgsoCk6mjBq5jcqitBpg1gdfYhKajXsM2</li><li>Currency: GZX</li><li>Limit: 10000000000</li></ul><p><strong>xBIBLx:</strong></p><ul><li>Issuer: rnH9o6qdym34K293Pq3FZp5Ko7SpZxEbeG</li><li>Currency: xBIBLx</li><li>Limit: 10000000000</li></ul><p><strong>XList:</strong></p><ul><li>Issuer: rNy8hFXoXEaJwkiT6U6ED5CWsfZHELNcnr</li><li>Currency: XLIST</li><li>Limit: 10000000000</li></ul><p><strong>NVL:</strong></p><ul><li>Issuer: r458JvSEmmPwrRbEtmrHvWsGqZjq8jK6aE</li><li>Currency: NVL</li><li>Limit: 10000000000</li></ul><h2 id="header-4">How to complete a XRPL token crosschain transaction</h2><p>Please see the <a href="https://medium.com/wanchain-foundation/how-to-complete-a-crosschain-transaction-xrpl-tokens-288d59be248e" rel="noopener noreferrer nofollow">XRPL token crosschain guide</a> for full details.</p><h2 id="header-5">Anything else?</h2><p>More XRPL assets will be added in the coming weeks and months. Bridges enabling assets to move <em>from</em> other chains <em>to</em> the XRPL are also in development.</p><p></p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/84824df3232d42b0a317f6565c504621.png" /><p></p><h2 id="header-6">About Wanchain</h2><p>We are all connected — Wanchain, the Wide Area Network chain, is the world’s premier decentralised blockchain interoperability solution. Our mission is to drive blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. This crosschain infrastructure empowers developers to build truly decentralised crosschain applications to power the future of Web3.</p><p><strong><em><a href="https://www.wanchain.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://bridge.wanchain.org/#/" rel="noopener noreferrer nofollow">Bridge</a> | <a href="https://www.explorewanchain.org/" rel="noopener noreferrer nofollow">Documentation</a> | <a href="https://t.me/WanchainCHAT?source&#61;post_page---------------------------" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://twitter.com/wanchain_org?source&#61;post_page---------------------------" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://wanchain.us17.list-manage.com/subscribe?u&#61;474affe3661620cb14a108d52&amp;id&#61;f76852edbb&amp;source&#61;post_page---------------------------" rel="noopener noreferrer nofollow">Newsletter</a> | Blockchain Explorer 1 | <a href="https://wanexplorer.io/" rel="noopener noreferrer nofollow">Blockchain Explorer 2</a> | <a href="https://wandevs.org/" rel="noopener noreferrer nofollow">Developer Portal</a></em></strong></p>

Crosschain XRPL Tokens: A Wanchain Bridge Upgrade

Table of Contents

Wanchain

Outros artigos publicados em 14 de out. de 2022

Get To Know DeFi Scams And Avoid Them With Position Exchange

CHILL CBD GUMMIES ARE A BIG HIT FOR $KOACOMBAT TOKEN AND THEIR KOA LABS PRODUCT LINE

METAVERSE UPDATE: COMMUNITY TOWNHOUSES AND AVATARS

9) All About the Legion Network Super App 2.0 & Other Exciting News

ApeSwap Joins Telos Fuel Program as Part of 54M $TLOS Initiative.

Europe Finalizes Landmark Crypto Rules

Join our free newsletter for daily crypto updates!