Wanchain Officially Provides Integration Support for MakerDAO's Dai Stablecoin

Since their very inception, one of the core drivers that have pushed cryptocurrencies into the mainstream is the fact that they are decentralized— as a result of which they allow for a high level of transactional transparency.

Additionally, since 2014 Bitcoin, Ethereum (along with other big name players) have dominated this space, however, over the last 24-months or so, many new/ novel digital assets have entered this burgeoning sector.

More About Wanchain

In the past, technologies like ‘cross-chain token transfers’ have remained confined to the realm of speculation and mere theory. However, if the folks over at Wanchain are to be believed, they have finally devised a novel solution that can help facilitate real-time exchanges between the Bitcoin and Ethereum blockchain.

To be even more specific, Wanchain’s native wallet offers customers with the power to manage their digital tokens on both chains (thereby opening up the world of Bitcoin liquidity to a vast array of Ether owners).

If that wasn't enough, earlier today, the firm also announced that it had added another token to its platform, the Dai stablecoin from MakerDAO. For those not aware of what a stablecoin is, it can essentially be thought of as a digital asset that is pegged to a particular currency so as to minimize price fluctuations (similar to the way in which Tether is designed).

In the past, BTC holders have had to jump through many hoops in order to procure Dai, however, with the Wanchain wallet now offering Dai support, the entire process has been made much more streamlined and hassle-free.

Talking about this latest milestone, MakerDAO CEO Rune Christensen had the following words:

“We are excited that Wanchain has launched their version 3.0 platform wTith Dai and MKR integration on their blockchain. As we seek to grow the use cases and stability of our tokens, Wanchain’s interoperability solution adds significant potential for Dai. For a stablecoin to see true mass adoption, cross-chain functionality is a must-have.”

Final Take

In the past, Wanchain CEO, Jack Lu, has constantly emphasised on the importance of cross-chain tech. Thus, in the wake of this latest announcement, Lu was recently quoted as saying:

“For us to achieve our goal of becoming one of the key cross-chain finance hubs of the Web 3.0 economy, Dai and MKR are critical components in laying the foundation. We look forward to seeing the many use cases this integration will generate.”

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Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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