Router Protocol has launched Router Chain, a Layer 1 blockchain designed to facilitate cross-chain interactions and aggregate liquidity.
Points
- Router Protocol launched Router Chain, a Layer 1 blockchain.
- The network aims to facilitate cross-chain interactions and aggregate liquidity.
- Router Chain uses proof-of-stake consensus with the Tendermint framework.
- The native Router token is used for security, transaction fees, and governance.
- The launch reflects Router Protocol’s commitment to enhancing blockchain interoperability.
Interoperability project Router Protocol has launched Router Chain, a Layer 1 network designed for the development of decentralized applications （dApps） that function across multiple blockchains. The network aims to aggregate liquidity and facilitate cross-chain interactions through the Cross-Chain Intent Framework.
Router Chain utilizes a proof-of-stake consensus mechanism based on the Tendermint framework. The native Router token is integral to the network’s operations, providing security, covering transaction fees, and enabling governance.
“The introduction of Router Chain highlights Router Protocol’s dedication to transforming the fragmented blockchain landscape into a chain-abstracted ecosystem,” said Ramani Ramachandran, Founder and CEO of Router Protocol.
Besides launching its Layer 1 chain, Router Protocol is known for operating a bridge protocol within a competitive niche that includes players like Wormhole, LayerZero, Axelar, Across, and Synapse. In 2021, Router raised $4.1 million in a funding round backed by Coinbase Ventures, Polygon, DeFi Capital, Wintermute, and others.
Explanation
- Router Chain’s launch represents a significant advancement in blockchain interoperability, aiming to simplify cross-chain interactions.
- The use of proof-of-stake consensus and the Tendermint framework ensures secure and efficient network operations.
- The native Router token’s roles in security, transaction fees, and governance highlight its central importance in the ecosystem.
- Router Protocol’s continued innovation reflects its commitment to addressing fragmentation in the blockchain space and enhancing overall functionality.
