ETH XFlows on Multi-chains
TL;DR Wanchain launches ETH XFlows. Native-to-native ETH cross-chain transfers are now live on Arbitrum, Ethereum, Optimism and Polygon!
ETH is one of the most popular and widely used cryptocurrencies in the world, rivalled only by BTC. Its importance lies in its role as the native coin of the Ethereum blockchain, the first blockchain platform to introduce smart contracts and, consequently, the first blockchain to enable decentralised applications. Today, Ethereum continues to sport the most robust developer community in the blockchain industry.
Ethereum’s unmatched adoption has often resulted in a congested and expensive network. In response, several Layer 2 networks and side chains have emerged; most notably: Arbitrum, Optimism and Polygon. Each of these Ethereum scalability solutions provide in-house bridges to move ETH to-and-from Ethereum. For a variety of reasons, these bridges — while secure — are slow and expensive. Cross-chain transactions using these bridges can, in some instances, take more than a week to complete and only allow for transactions between themselves and Ethereum. This makes moving ETH between the various Layer 2 networks and side chains a complicated affair. Considering these challenges, a better solution is urgently needed. Luckily, Wanchain’s XFlows presents an ideal solution.
It is with great pleasure that Wanchain, the global leader for blockchain interoperability solutions, announces that it has expanded its XFlows product to support ETH transfers between Ethereum, Arbitrum, Optimism and Polygon!
ETH XFlows is a decentralised cross-chain solution that enables native-to-native cross-chain transfers between blockchains that settle transactions on Ethereum, and where ETH can be said to exist natively. XFlows leverage the power of Wanchain’s cross-chain bridges to provide easy, non-custodial transfers between chains without the need for centralised exchanges.
Arbitrum, Optimism and Polygon are all Ethereum scaling solutions that settle transactions on Ethereum. Polygon, as a sidechain, bundles transactions and settles them on Ethereum. Arbitrum and Optimism are Layer 2 blockchain protocols known as rollups. These are built on top of the Ethereum blockchain and inherit Ethereum’s existing security apparatus. ETH on these networks is considered equivalent to native ETH on Ethereum.
ETH XFlows is currently supported by direct bridges connecting Arbitrum, Ethereum, Optimism, Polygon and Wanchain. The specific routes are: