Interoperability is becoming all the more crucial in the cryptocurrency and blockchain space. Achieving this goal will often require layer-two solutions. RiveX is one option to explore, as it offers a fair few benefits.
A Brief Overview
Bridging the gap between different blockchains and cryptocurrencies will not happen overnight. Without proper solutions to do so, it may not even become possible whatsoever. RiveX acknowledges now is the time to explore this opportunity. Through its interoperable and scalable layer-two solution, a lot of opportunities can be explored in the future.
This non-chain and off-chain solution focuses primarily on Wanchain. However, it can be used in conjunction with other public chains that are “compatible” with Wanchain at this time. Leveraging public chains and side chains to strengthen decentralized applications is the main order of business.
It will lead to new enterprise solutions and a much broader DeFi ecosystem. Native APIs and SDKs are made available to developers to explore these new opportunities.
How Does it Work?
Offering a solution capable of cross chains is never easy. RiveX has a few dedicated features that will make this option viable. By leveraging Wanchain’s interoperability, an important building block has been created. Moreover, there are a few other protocols that have already connected with Wanchain in the past. Those will all be able to hook into what RiveX aims to provide, giving this solution a competitive edge.
Furthermore, all operations will be moved off-chain. This ensures the operations can be handled separately at all times, lowering overall latency and associated costs. Not all operations are recorded on the parent chain. It is a different take on using computational power in an efficient manner,
There is also the use of side chains, for a wide variety of purposes. Using both public and private chains can increase overall security and privacy. RiveX wants to provide everyone with end-to-end encryption and privacy features. Using side chains to achieve this goal is a viable option for enterprises, developers, and regular users.
Native dApp Support
As one would expect, RiveX will natively support dApps. Building projects and services leveraging cross-chain compatibility will elevate RiveX to a new level. Providing these solutions is only one part of the equation. They all need to be accessible in a convenient manner as well. To do so, the RX wallet will ensure these dApps are at one’s fingertips.
In fact, the team is confident RX Wallet will serve as a ‘super-app”. It provides core token functionality, but also easy access to decentralized applications. Several of the dApps being built are native to RiveX itself, but developers are invited to make their own contributions. There certainly are a few options to explore in this regard.
Providing developers, enterprises, and applications access to interoperability will be the main order of business. As such, the APIs and SDKs will become of great value. Wanchain’s current Cross-chain implementation is found in many different projects. Taking all of this to the next level will be a challenge, but it is an option worth exploring.
On paper, there are a lot of benefits to what RiveX aims to provide. It is crucial for developers to begin exploring interoperability whenever possible. Allowing ecosystems to operate independently from one another has been the norm for some time. However, the time has come to take this concept to an entirely new level in the years to come.
Whether RiveX will be the solution to unlock it all, remains to be determined. More competing solutions will be beneficial to the cryptocurrency and blockchain industry as a whole. Getting developers to explore these new options might require some convincing. Providing them with the necessary tools to start building right away is a smart approach.