KyberNetwork and Wanchain has announced a partnership to form a decentralized exchange to promote cross blockchain trading and instant liquidity of the digital assets.
KyberNetwork It is decentralized, trust less exchange which guarantees the instant liquidity of cryptocurrency to the user.
Wanchain A Chinese company whose headquarters are in Austin is a company which provides financial services with cross blockchain smart contracts.
These are exciting times for the blockchain industry and the new digital economy,” said Jack Lu, Founder of wanchain.
A lack of decentralized exchange Which can access digital assets across chain was blocking the new rise of the digital economy. With the partnership these companies are about to give the digital economy a new step.
The new decentralized exchange called DEX will give a deep liquidity and instant trading of the digital tokens and currency like Bitcoin.
KyberNetwork’s DEX and Wanchain’s cross chain technology called KWEDEX will provide users a decentralized way to exchange between tokens and currency. The advantage of DEX will be that the custody of your digital asset will not be with any of the centralized exchange companies and there won’t be any risk of using it.
All KyberNetwork’s coin Which were on ethereum network will be migrated to Wanchain’s cross technology.
This promising partnership will solidify both KyberNetwork’s and Wanchain’s aspirations as two of the most well-designed and competitive blockchain companies in the digital economy, pushing both teams to new heights,” said Loi Luu, Founder of KyberNetwork.
Another thing with the partnership is the Peace Relay project to activate the communication between ethereum fork Network.
Both KyberNetwork and Wanchain are focused on building solutions that enable blockchain interoperability in order to solve blockchain’s ‘intranet’ problem,” said Dustin Byington, President of Wanchain.