The ShuttleOne METACHAIN Bridge
The ShuttleOne Metachain is a multichain aggregator where users can generate blockchain-primarily based packages on a unattached interface and carry out on any supported blockchain without formulating protocol-precise divergences to the product. Instead, they could connect their utility to diverse blockchains with a single API to create virtually interoperable dApps.
As blockchain advances, it creates extra segmentation between chains as every of them have their particular skills. Users / businesses seeking to construct decentralized Platform, now have the difficulty of having to recognize specific chains and constructing the identical issue on several blockchains which is time and resources ingesting.
The Metachain creates a single interface to construct as soon as and for all, whilst the usage of the best available community, and procuring fuel with just a single foreign money, $SZO (that is the ShuttleOne native token). The fuel fee in $SZO is then divided and used to pay the individual blockchains inside the backbone.
Whenever a Metachain dApp uses the Tezos Network, it's far going to be vulnerable to pay the essential transaction costs, that permits you to be paid in $SZO and settled via ShuttleOne as a nearby Tezos token. With the adoption of Tezos protocol positive to increase, go-chain liquidity is likewise expected to expand within the coming days.
BENEFITS OF METACHAIN BRIDGE
The Metachain is just one, albeit important, part of the ShuttleOne ecosystem. Having experience developing decentralized financial applications for the government and private entities, the ShuttleOne team has created a suite of products and services that can be readily implemented to create DeFi ecosystems.
ShuttleOne’s Metachain is a much-needed solution that opens the door for the creation of blockchain-agnostic DApps from day one. The Metachain, as a multichain aggregator, brings together the blockchain multiverse to solve the issue of fragmentation associated with the presence of multiple protocols and their share of strengths and shortcomings.
Further, the ShuttleOne Metachain enables a wide range of users across industry, government and consumer segments to leverage all the benefits of different blockchain protocols without compromising on speed, security and decentralization.
ShuttleOne also eliminates the need for different tokens to execute transactions on participant blockchains. Instead, the platform’s native SZO token will be sufficient to carry out all the transactions on ShuttleOne Network-based DApps and Web 3.0 applications.
The ShuttleOne multichain bridge, as a part of the Metachain ecosystem, is the first of its kind. It is a decentralized two-way bridge that connects three networks that’s capable of supporting more. The bridge doesn’t hold liquidity to enable the transfer of assets from one blockchain network to another. Instead, it uses smart contracts to hold tokens, making it secure and resistant to hacks
By using SZO as the intermediary token while conducting multichain transactions, the ShuttleOne bridge optimizes liquidity utilization on connecting chains by ensuring that liquidity in the form of native tokens is not simultaneously locked on their respective blockchains to facilitate the transfers.
Another prominent product from the ShuttleOne stables is the Shuttle Wallet, an all-in-one wallet for liquidity providers and SZO holders in the ShuttleOne ecosystem.
Connect with ShuttleOne;
Website: https://shuttleone.network/2021/#/ho.me
Twitter: https://twitter.com/shuttle_one.
Telegram: https://t.me/shuttleone.
Medium: https://medium.com/shuttleone.
