Union Labs, working on blockchain compatibility, intends to link up with AggLayer, a new decentralized platform launched by Polygon Labs in early 2021, which facilitates the exchange of liquidity across linked networks.
This deal is noteworthy as it has the potential to strengthen the connections between Polygon, a leading Ethereum scaling solution, and the Cosmos blockchain network and its Inter-Blockchain Communication Protocol (IBC). IBC is an intricate system of linked blockchains that Union has been developing.
“According to the press release, connecting AggLayer and IBC chains will provide easier access to liquidity and smoother transactions between the two networks, ensuring secure, swift, and low-lag processes without the need for intermediaries.”
Karel Kubat, the founder of Union Labs, stated that this announcement signified “a pledge from both teams to tackle the issue of blockchains operating in isolation while preserving autonomy.”
Union Labs, who revealed in November they secured $4 million in funding, intends to initiate their main network operation this year.
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2024-04-18 14:11