Layer One X, the world's fastest interoperable blockchain, has recently made a significant achievement in blockchain technology. Friday, the 3rd of March, 2023, will go down in crypto history as the first time a layer one blockchain achieved a decentralized transfer of assets between an EVM chain and a Non-EVM chain.
"EVM chain" is a term used to refer to a blockchain network compatible with the Ethereum Virtual Machine (EVM). Some examples of EVM chains include Ethereum, Binance Smart Chain, and Polygon. Non-EVM chains, as the name suggests, are blockchain networks incompatible with the Ethereum Virtual Machine (EVM) and do not share the same programming languages. Some examples of Non-EVM chains are Solana, Polkadot, and Cardano. Even though many blockchain teams have tried, achieving decentralized cross-chain transfers between EVM and Non-EVM up to this point has not been possible. Until now, because Layer One X has cracked the code.
Layer One X Founder Kevin Coutinho described the achievement as
"We are excited for the opportunity this presents to allow projects and developers to build asynchronous features on blockchains through a decentralized source of truth."
What is Layer One X
Layer One X (L1X) is a revolutionary new layer one blockchain launching in August 2023. However, it has already shown some extraordinary capabilities through the testnet.
L1X delivers all four of the "Blockchain Quartet" of interoperability, decentralization, scalability, and security without compromising its integrity.
How Did Layer One X Change the Crypto World?
On the 3rd of March of this year, the Layer One X platform successfully transferred assets between the Binance Smart Chain and Solana through its innovative virtual machine, which Kevin and the team built from the ground up.
This is a historic moment in blockchain interoperability, Layer One X will be releasing its own NFT to immortalize the significant achievement.
How to Get Your NFT
We are minting a limited number of NFTs on the Layer One X chain as the first official NFT.
Even though Layer One X does not launch until April 2024, it is already emerging as the leader in a new generation of interoperable blockchain capability. This initial Layer One X NFT is the first of several distinctive NFTs to come. We're creating and making all of them available through our "Historical X" NFT collection. These milestone NFTs will gradually become available. Don't worry. We'll inform you when L1X is ready to release a new NFT. Once we do, you'll know L1X created a new milestone regarding previously unattainable capabilities in the blockchain industry history.
Why are Decentralized Cross-Chain Asset Transfers So Important?
One game-changing advantage that decentralized cross-chain asset transfer brings to users and developers is removing the need to use bridges.
Bridges are vulnerable to attack and are often an expensive and complex solution for cross-chain asset transfers. Layer One X's decentralized cross-chain transfer solution provides a safer, cheaper, and faster alternative to the soon-to-be redundant crypto bridges (#burncryptobridges)
Furthermore, the ability to transfer assets between EVM and Non-EVM with a decentralized solution provides developers with the opportunity to create more interoperable applications. These work seamlessly across different blockchain networks and give them access to a larger pool of assets, meaning applications can provide more choice to the user and heighten capability and capital efficiency.
How will Layer One X's innovation shape the future of blockchain?
L1X is opening up new possibilities for cross-chain collaboration creating a more connected blockchain ecosystem and creating more innovative decentralized applications.
Our innovation in interoperability will enable any blockchain network to communicate and transact with each other. The increased interoperability and scalability offered by Layer One X will soon open up new business models and revenue streams for blockchain-based companies and projects. The combination of these factors will help increase the adoption of blockchain technology. By making it more accessible and easier for developers and end-users.
"We are now focused on bringing generic messaging and event-based interoperability with the same virtual machine in the coming few months that will open markets such as decentralized identification and multi-chain utility."
- Kevin Coutinho, Layer One X Founder
As we celebrate Layer One X's recent achievement of a decentralized transfer of assets between an EVM chain and a Non-EVM chain, this achievement marks a significant milestone in blockchain technology. Layer One X is poised to shape the future of blockchain, ushering in a new paradigm of blockchain interoperability that can drive increased adoption, innovation, and value for users and businesses alike.
To ensure you stay informed as Layer One X continues to break ground in new and innovative ways, join the discord. Here you can get access to the latest progress made as Layer One X moves towards its launch in August this year.
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