Interlay publish technical whitepaper on the benefits of cross-blockchain interoperability; introduce XCC solution. Story by tomfarrencrypto
advocating for the imminent development of cross-blockchain interoperability solutions to unlock a plethora of potential within the decentralized finance ecosystem.
The newly-launched XCC protocol — serving as an additional layer of XCLAIM which was introduced to the market in 2018 — enables greater asset sovereignty during cross-chain activities such as wrapping, as well as unifying Bitcoin multisigs with mechanisms typically native to the Ethereum network such as commit chains.
According to their assessment, XCC allows for “any Bitcoin that is staked long-term and is not intended to be moved can essentially ‘release’ its collateral”, and that this can then be “reused to secure other, ‘liquid’ BTC being bridged… allowing for vaults to serve more users with the same collateral.”
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