Blockchain interoperability is essential for the industry, but current solutions such as bridges are quite vulnerable. So what is the solution?
Blockchain interoperability is one of the most important goals to ensure that the industry becomes future-proofed. Smooth cross-chain communication and flow of value are essential for efficient transactions and use cases. By addressing the fragmentation of Layer-1 networks, the blockchain industry can improve user experience, open new opportunities for collaboration, overcome its speed and scalability limitations, and accelerate the adoption of the technology across all major industries.
L1X eliminates centralized players and the need to trust a central point of failure, such as a bridge. This makes cross-chain communication faster, safer and less expensive. L1X focuses on a proprietary generic messaging and protocol standard for cross-blockchain event triggering for multiple assets and functionalities. For example, users can lock an NFT on one blockchain and borrow on another while using the L1X VM.
L1X partnered with Prysm Group for tokenomics and is designed with scalability and speed in mind. The network is working to achieve 100,000 transactions per second with almost instant block creation. The blockchain not only achieves interoperability but aims to put the world’s 8 billion smart devices to work for micro-validation. L1X integrates a unique hybrid consensus mechanism that enables fast confirmation and higher throughput.
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