Home CryptoCurrency News Waves Protocol is Integrating Solana With Its Gravity Protocol

Waves Protocol is Integrating Solana With Its Gravity Protocol

Waves Tech or Waves Protocol, a powerful blockchain-agnostic ecosystem focused on inter-chain DeFi, is integrating Solana blockchain into its Gravity protocol, a blockchain-agnostic decentralized cross-chain and oracle network developed by Waves Tech.

According to a blog post published on Wednesday, August 14th, Solana will be the first external addition to Waves’ roadmap to achieving mass adoption of inter-chain DeFi through the Gravity interoperability protocol. Thanks to this integration, Solana will be available for data transfers between Gravity network participants.

Waves Tech said that in the initial phase, Solana would be integrated as a target chain where it would work in conjunction with other integrated chains, oracle systems, and data providers, and thus driving the usage of Solana’s native token SOL.

Solana developers will have an opportunity to use other chains’ tokens as payment on its blockchain network and to issue popular tokens of other target chains that are integrated into Gravity.

According to Waves Tech, this integration will bring multiple to the community that includes the availability of SOL token on Waves-based exchanges and future Gravity target chains, while tokens issued on Waves will be available on Solana.

DApp developers from both communities will be able to use the data feed services of Gravity oracles and create cross-chain dApps operable in both and other chains connected through Gravity via wallets and browser extensions preferred by users. These cross-chain DApps will leverage the advantages of both protocols: “Solana capacity and Waves simplicity.”

The announcement further reads:

“Solana will also become accessible to our partner data providers for transferring data from the internet to Solana’s network, such as crypto trackers, staking providers, crypto exchanges, data aggregators, and cross-chain transfer providers.”

Waves Protocol describes Gravity as an interoperability focused network based on a truly “blockchain-agnostic protocol for communication between blockchains and with the outside world, working with native token economies” but without introducing a new Gravity token.

According to the company, this no-token approach paves a way for a more inclusive, open ecosystem, while addressing future scaling and stability issues.

The platform believes that Solana’s speed of 50,000 to 65,000 TPS will bring enormous opportunities for Gravity participants. Alexey Pupyshev, Waves evangelist and co-creator of Gravity protocol, stated:

“Thanks to the Solana integration, Gravity becomes a more enriched infrastructure that enables developers to create universally connected dApps, with more opportunities for practical implementation and mass adoption of DeFi.”


If you found this article interesting, here you can find more Waves News

Atiq Ur Rehman
Atiq Ur Rehman
Electronics Engineer with a passion to write about Disrupting Technologies like Blockchain. He joined Crypto-Economy in July 2019.
- Advertisment -
#NamePriceChanges 24H