HomeCoinsEthereum (ETH)Interoperability Platform to Use Telos Tech for Cross-Chain Transactions

Interoperability Platform to Use Telos Tech for Cross-Chain Transactions

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Interoperability Platform to Use Telos Tech for Cross-Chain Transactions

Telos introduced on Could 26 that Transledger will use its blockchain know-how to energy an interoperability platform enabling cryptocurrencies to maneuver between blockchains.

The Transledger platform goals to carry enhancements to peer-to-peer functions like decentralized exchanges (DEXs), together with enabling administration of cash like Bitcoin (BTC) with sooner and extra highly effective sensible contract options.

Know-how brings advantages to decentralized exchanges

Transledger allows cash together with Bitcoin and Ether (ETH) to maneuver between blockchains whereas preserving their worth, utilizing proxy tokens on Telos as a medium of alternate. This permits these cash to reap the benefits of Telos sensible contracts and half-second transaction instances with out charges.

Utilizing this know-how, decentralized exchanges might present buying and selling speeds to rival centralized exchanges, however with out customers having to surrender management of their property. It may well additionally carry the liquidity of high-market cap cash like Bitcoin onto DEXs for the primary time.

Transledger CEO Didier Martin mentioned:

“Cryptocurrency customers shouldn’t should depend on a centralized alternate to commerce their property when we’ve the flexibility to create safe, peer-to-peer networks.”

Additional use circumstances embrace identification verification, oracles and switch of property.

Telos has been ramping up partnerships

Telos is ranked as probably the most energetic blockchains on the earth, in accordance with information from Blocktivity.

As Cointelegraph beforehand reported, it has lately introduced three gaming partnerships using the community to carry blockchain-enabled options to video games on the Unity and Steam platforms. 

And initially of April, Telos teamed up with Genobank to develop a non-public coronavirus testing utility, which has since secured a $50,000 grant from Block.one, the corporate behind EOSIO (EOS).

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