Originally published on: October 15, 2024
Sasha Ivanov, the founder of Waves, is making waves in the blockchain space with the introduction of Units, a groundbreaking protocol designed to tackle the challenges of layer-2 interoperability. Ivanov recently shared his vision for the future of blockchain at the Future Blockchain Summit in Dubai, where he highlighted the need for a comprehensive solution to the interoperability problem within the Web3 ecosystem.
Units is set to launch at the end of October and promises to revolutionize how different blockchains communicate with each other. Ivanov pointed out the risks associated with existing cross-chain bridges, citing major hacks in 2022 that resulted in nearly $1 billion in combined losses. He emphasized the importance of addressing these issues to ensure the industry’s continued growth and development.
With Units, Ivanov and his team aim to create a protocol where all blockchains are interoperable by default, eliminating the need for centralized bridges and reducing the fragmentation of liquidity in decentralized finance (DeFi). By establishing economic guarantees that align across different layers, Units ensures seamless interaction between blockchains on equal terms.
Ivanov also discussed the potential for cross-chain decentralized applications (DApps) to thrive on the Unit’s base layer, offering grants to support innovative projects within the ecosystem. He believes that this approach will foster a more robust and interconnected blockchain landscape, enabling new possibilities for decentralized applications and services.
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