Over the years, decentralized systems have grown into large channels of asset transfers as users enjoy the cheap, fast and secure technologies cropping up by the day. However, each blockchain is coded using its programming language and built on different protocols which fragment the ecosystem, making it difficult to transfer assets across or communicate with other blockchains.
As blockchain technology continues to grow, interoperability is viewed as the solution to the growing concerns on the fragmented blockchain ecosystem. Blockchain interoperability allows decentralized technologies to communicate and exchange making blockchains more user-friendly, which boosts the global adoption of cryptos.
Hybrix, a blockchain interoperability solution, is focused on giving the user multiple asset transfer channels on several blockchains. Additionally, the platform also targets the dApp market to ease developers’ challenges in building a multi-blockchain application.
Hybrix Wallet 2.0 Launches
One of Hybrix’s key goals lies in giving the user the freedom and power to send, receive and transfer assets across any blockchain in the world. This is accomplished through the "innovative" Hybrix wallet 2.0, which supports a multitude of tokens from their native blockchains.
"Technically borderless cross-ledger platform hybrix unites all blockchains," Hybrix website explains. "Swap, store, build, explore and transfer across a myriad of different blockchains all at once."
Hybrix enhances swapping tokens across multiple blockchains, beating its competition in ease of swapping and reduces the costs involved. Unlike other cross chain wallets such as Metamask, Hybrix Wallet 2.0 boasts as one of the only projects offering swaps on different ledgers within the same wallet. The wallet is decentralized, safe and private allowing users to swap and place orders on cryptos at anytime, anywhere.
Additionally, the Hybrix wallet will also support BEP-20 tokens following the project’s move to Binance Smart Chain (BSC), as announced earlier in the week.
HY has now expanded to Binance Smart Chain. And there it has some special features that we will cover on friday...https://t.co/07kJbsYVzd
— hybrix (@hybrix_io) May 12, 2021
^- Note that @bscscan has not filled in our details yet, although we have requested it.@binance @BinanceAcademy @BinanceDutch @cz_binance pic.twitter.com/vQ2WRzOIyZ
The platform’s native token, HY, becomes the first multi-chain token to be swapped, stored, staked, moved and traded across Ethereum, BSC and 30 other blockchains. Notwithstanding, Hybrix also supports over 407 tokens on its platform including HY, TOMO, ETH, BCH, WAVES and XRP.
Developer’s Paradise
The exclusivity across blockchain projects often locks out collaboration between developers, which is much needed to ensure a successful and growing ecosystem. More often than not, Bitcoin and Ethereum experts argue on social media on which is the better platform despite both being crucial to the crypto ecosystem.
On Hybrix, developers are given the freedom to build atop the project using their preferred language via the "rapid development environment (RDE)." This is a toolkit that allows developers to speed up their workflow and code dApps in a language they prefer to enhance cross-ledger development.
In the future, the project dev team is focusing on introducing an allocator pilot project allowing developers to build their economy – connected to the fragmented blockchain ecosystem.