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Interoperability Platform to Use Telos Tech for Cross-Chain Transactions

Telos introduced on Could 26 that Transledger will use its blockchain know-how to energy an interoperability platform enabling cryptocurrencies to maneuver between blockchains.

The Transledger platform goals to deliver enhancements to peer-to-peer purposes like decentralized exchanges (DEXs), together with enabling administration of cash like Bitcoin (BTC) with quicker and extra highly effective good contract options.

Know-how brings advantages to decentralized exchanges

Transledger permits cash together with Bitcoin and Ether (ETH) to maneuver between blockchains whereas preserving their worth, utilizing proxy tokens on Telos as a medium of trade. This enables these cash to reap the benefits of Telos good contracts and half-second transaction occasions with out charges.

Utilizing this know-how, decentralized exchanges may present buying and selling speeds to rival centralized exchanges, however with out customers having to surrender management of their belongings. It might additionally deliver the liquidity of high-market cap cash like Bitcoin onto DEXs for the primary time.

Transledger CEO Didier Martin mentioned:

“Cryptocurrency customers shouldn’t must depend on a centralized trade to commerce their belongings when we’ve the flexibility to create safe, peer-to-peer networks.”

Additional use instances embody id verification, oracles and switch of belongings.

Telos has been ramping up partnerships

Telos is ranked as one of the vital lively blockchains on the earth, in accordance with information from Blocktivity.

As Cointelegraph beforehand reported, it has just lately introduced three gaming partnerships using the community to deliver blockchain-enabled options to video games on the Unity and Steam platforms. 

And in the beginning of April, Telos teamed up with Genobank to develop a personal coronavirus testing software, which has since secured a $50,000 grant from Block.one, the corporate behind EOSIO (EOS).

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