Poly Network has announced it is adding Zilliqa to its cross-chain asset swapping protocol. The move is part of a new partnership, noted by Poly Network as another step in its mission to drive interoperability between blockchain platforms.
Zilliqa is a high-performance, high-security blockchain platform designed to scale to thousands of transactions per second. Scilla, Zilliqa’s unique language designed for smart contracts, utilizes mathematical proofs to ensure the code meets certain specifications.
Poly Network is an interoperability protocol that allows for cross-chain sharing of assets and information. Once complete, the implementation will enable applications and tokens on Zilliqa to interact with other participating blockchains. Zilliqa developers will be able to build cross-chain logic into their Scilla-based smart contracts and merge with Poly Network’s supported blockchains. In its announcement Poly Network said:
Blockchains form isolated islands with their own users, dApps, and assets. This in turn makes it very difficult to move assets or data from one chain to another. Poly Network solves this fundamental issue by creating an interoperability layer that connects several chains together in a decentralized manner. It provides a bridge that takes data or requests from one chain and passes it to another in the format the latter expects.
Zilliqa intends to leverage cross-chain functionality through its non-custodial exchange, ZilSwap, developed by Switcheo Labs. Using Poly Network, ZilSwap will offer liquidity pooling and mining rewards for NEP-5, ERC-20, BEP-20, and its native ZRC-2 token formats.
Poly Network is already the cross-chain provider for Switcheo’s TradeHub and the Flamingo Finance DeFi platform. The Poly Network interoperability protocol now supports Neo, Ethereum, Bitcoin, Ontology, Binance Smart Chain, Elrond, and Cosmos.
The full announcement can be found at the link below:
https://polynetwork.medium.com/poly-network-struck-a-partnership-with-zilliqa-to-drive-interoperability-ced0f6d764c6
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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