Posted 7 months ago | by Catoshi Nakamoto
Wanchain’s crosschain bridges to enable a multichain ZooKeeper
Since its inception, ZooKeeper has repeatedly shown itself to be one of the most powerful and innovative Dapps in the industry. Now, the ZooKeeper team is going multichain!
- ZooKeeper will deploy its ecosystem on multiple chains;
- ZooNFTs will create new crosschain use cases;
- Wanchain’s decentralised crosschain bridges will enable ZooKeeper to become a true multichain application.
Introducing ZooKeeper’s vZOO, a WRC-20 wrapped ZOO
vZOO, a preminted WRC20 token, is a wrapped version of the ZOO token that is at the centre of ZooKeeper’s multichain future. vZOO enables the collateralisation of ZOO and will be used in all future multichain DAPPs developed by ZooKeeper and their partners at Yggdrazil. Vaults will be created on each chain and all users will be able to instantly swap between ZOO and vZOO. All of this is made possible by Wanchain’s decentralised crosschain bridges.
Read more about vZOO below:
ZooKeeper Enters The Multichain
Since our recent partnership with YGGDRAZIL, the demand and potential for adoption of ZOO has rapidly increased. The…
Wanchain’s decentralized crosschain bridges
Wanchain is the world’s premiere decentralised blockchain interoperability solution, driving blockchain adoption through interoperability by building fully decentralised bridges that connect the world’s many siloed blockchain networks. Wanchain’s crosschain infrastructure empowers developers to build truly decentralised crosschain applications to power the future of DeFi across multiple blockchains. Storeman validator nodes are responsible for performing and verifying crosschain transactions.
At any given time, there are 25 Storeman nodes. Together, they form the Storeman Group. When a user initiates a crosschain transaction, the Storeman Group works together to create a locked account that holds the user’s original asset. The Storeman Group then mints a new asset pegged 1:1 to the original asset on the destination chain. No single Storeman node has access to this wallet address’ private keys. Each node only has access to a small fragment of the private key. This is a security feature preventing malfeasance on behalf of any one Storeman node. Storeman nodes must all stake WAN tokens as collateral. All of Wanchain’s different crosschain bridges are supported by this unified decentralised collateral pool.
Wanchain’s decentralised blockchain interoperability solution requires no custodial party to manage users’ funds. Unlike other crosschain systems, Wanchain does not rely on any centralised third-party platform to authenticate transactions. Wanchain employs multi-party computing and threshold secret-sharing technology. Truly decentralised crosschain transactions are made possible thanks to Wanchain’s innovative Storeman Group.
Wanchain and ZooKeeper, the perfect usecase for crosschain bridges
Wanchain’s crosschain bridges are a perfect solution to execute ZooKeeper’s multichain vision. ZooKeeper’s multichain future positions Wanchain as the first crosschain bridge to enable the kinds of innovative functions needed to realise crosschain blockchain gaming.
Original article published on Wanchain’s Medium.