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Router Protocol

Router Protocol, a Coinbase Ventures-backed decentralized blockchain network, has announced the mainnet launch of its Layer-1 solution Router Chain.
The launch, set for Tuesday, aims to bridge Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) and Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) security to chains in the Cosmos (<a href="https://crypto.news/price/cosmos-hub/" rel="noopener noreferrer nofollow">ATOM</a>) ecosystem, enabling fully interoperable decentralized applications.&nbsp;
Router Protocol’s mainnet launch introduces chain abstraction technology, allowing developers to create dApps for cross-chain money markets and omnichain tokens and other use cases.
<h2 class="wp-block-heading" id="router-chain-eyes-a-chain-abstracted-ecosystem">Router Chain eyes a chain abstracted ecosystem</h2>
Chain abstraction relates to the defragmentation of the blockchain ecosystem to allow users to interact with dApps from any chain without having to exit their current application. Abstraction also allows for interaction with the applications on disparate chains via any token, with blockchains benefitting from aggregated liquidity.
Router Protool wrote in an <a href="https://routerprotocol.medium.com/update-on-router-chain-mainnet-launch-32edacced4fe" target="_blank" rel="noopener noreferrer nofollow">update</a> that its mainnet launch is another step towards addressing challenges facing developers and the community in relation to chain abstraction within the Web3 ecosystem. Per details shared in the press release, the protocol offers a product suite that includes Router Chain, Nitro and CCIF for this goal.
Router Chain is a proof of stake layer-1 chain leveraging Tendermint’s BFT consensus mechanism and offers compatibility with EVM and non EVM chains. Meanwhile, the Cross-Chain Intent Framework is a plug-and-play infrastructure for cross-chain dApps and Nitro supports cross-chain swaps.
“By abstracting blockchain complexities, Router Protocol not only advances chain abstraction technology but enables the next generation of decentralized applications to seamlessly interact across multiple chains, boosting efficiency and reducing costs. This is the development Web3 has been waiting for,” Router Protocol founder and CEO Ramani Ramachandran said.
You might also like: <a href="https://crypto.news/web3-consumers-chain-abstraction-is-the-utmost-need-of-the-hour-opinion/" rel="noopener noreferrer nofollow"> Web3 consumers: Chain abstraction is the utmost need of the hour | Opinion </a>
<h2 class="wp-block-heading" id="route-as-gas-token">ROUTE as gas token</h2>
Router Protocol’s mainnet launch also allows developers and users to benefit from features such as optimistic reverse verification and fast finality for fast cross-chain transfers. Meanwhile, middleware interceptors provide for customizable interactions and composability.
According to Router Protocol, the ROUTE token will serve as the platform’s gas token as well as offer staking rewards for holders.
<h2 class="wp-block-heading" id="bridging-bitcoin-ethereum-to-cosmos">Bridging Bitcoin, Ethereum to Cosmos</h2>
Features that come with Router Chain’s mainnet launch includes canonical bridges, omnichain tokens and alloyed assets, and cross-chain money markets. Developers can leverage Router Chain for decentralized applications for cross-chain lending, borrowing and trading.
Router Chain’s multi-chain dApps feature means developers can tap into Bitcoin or Ethereum’s security, while at the same time leverage Solana for low transaction costs and speed. Router plans to launch a bridging solution for Cosmos to help mitigate the chain’s security limitations.
Read more: <a href="https://crypto.news/cosmos-hub-proposes-transfer-of-1m-atom-to-liquidity-protocol-hydro/" rel="noopener noreferrer nofollow"> Cosmos Hub proposes transfer of 1m ATOM to liquidity protocol Hydro </a>
Also backed by QCP Capital and Wintermute among other investors, Router Protocol will look to mainnet launch to expand beyond the over 30 EVM and non-EVM chains that it currently supports.
Router Protocol has partnerships with Circle, Osmosis and Electron Labs, while its CCIF integrations include Lido, Benqi, Stakestone and Aerodrome.

Router Protocol launches mainnet for L1 solution Router Chain

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Alte articole publicate pe 30 iul. 2024

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