Waves Founder Sasha Ivanov Unveils Units Network: Revolutionizing Blockchain Interoperability and DeFi
Summary:
The founder of Waves, Sasha Ivanov, has unveiled Units Network, a structural layer aimed at connecting various ecosystem chains in an interoperable and trustless manner with a backing of real-world assets. In an interview, Ivanov discusses the aims, plans, and innovations of Units Network and the role it plays within the blockchain technology and the Waves ecosystem. He also reflects on past challenges, future objectives, and shares insights into the upcoming testnet and liquidity campaigns. Units Network is aimed at facilitating the decentralized finance sector by significantly simplifying the process of launching your own blockchain network.
The landscape of cryptocurrency has significantly evolved, invigorated by advancements in blockchain and decentralized finance (DeFi). In the midst of this revolution, Sasha Ivanov, the founder of Waves, has unveiled Units Network. Crafted to function as a fundamental backbone, Units Network facilitates seamless and transparent connections between ecosystem chains, enables re-staking of any assets, and is backed by real-world assets.
In an intriguing interview, Ivanov offered insights into the concepts and advancements forming the foundation of Units Network and its position within the Waves ecosystem as well as its broader implications for the future of blockchain technology. Reflecting on past challenges like the Neutrino USD's depegging and the aftermath of the FTX market collapse, Ivanov shared his prospects for the future of decentralized finance.
When asked about his plans for an upcoming bull cycle, Ivanov stated his intent to launch Units Network based on the Waves ecosystem which aims to proliferate and attract new members to the community. This endeavor is set to simplify the process of establishing your individual layer-1 (L1) blockchain predicated on Waves staking and is fully congruent with Ethereum.
Networks within this ecosystem are interconnected through the Waves network, which evolves beyond a mere L1 blockchain into a foundational layer 0 (L0), offering an easier pathway for the mass adoption of blockchain technology.
Reflecting on the trials faced by Waves and their outcomes, Ivanov mentioned how the past two years have been testing for everyone, but the challenging situations confronted by Waves seem insignificant when juxtaposed against global events. Key takeaways include learning that a solely market-driven model to prop up the stability of assets can be vulnerable to attacks, and that decentralized autonomous organization (DAO) models can operate effectively in crisis situations.
The fall of FTX, according to Ivanov, was a reality check about the underlying risks in the Western financial system, an area he admitted to have previously underestimated.
When discussing Ethereum's ongoing development and approach to scalability, Ivanov states that the goal of Units Network is to conjoin layer-2 (L2) networks with the Ethereum base layer, essentially transforming these L2 networks into “shards” of Ethereum, in time.
Throwing light on Units Network and its role in the blockchain arena, Ivanov explained that it streamlines the launch of Ethereum Virtual Machine (EVM) networks. This eliminates the requirement for individual validators and enhances connectivity with other networks both inside and outside the ecosystem.
Delving deeper into the range of tools and solutions offered by Units Network, Ivanov emphasized its endeavor to simplify the initiation of personalized blockchains. The new blockchain is supported by the existing validator community and is fully interoperably connected to all other chains within the ecosystem. On top of that, external bridges provide connectivity to other ecosystems.
Explaining the concept of the Hybrid RWA stablecoin system, Ivanov suggested that it plays a vital role in the future applications of blockchain technology. He believes that it will shift a substantial part of the world’s financial infrastructure to blockchain technology and can provide an almost unlimited supply of new projects for years to come.
From a user's perspective, the tangible benefits of using Units Network over traditional blockchain platforms are many. It provides a comprehensive solution for launching and maintaining personalized blockspace for all types of projects that require it and make it really accessible.
Looking ahead, Ivanov indicated the launching of the ecosystem DAO based on the Unit0 token, the integration of zero-knowledge (ZK) proofs into the ecosystem, and further launching of further ecosystem chains and DApps on the Unit0 chain as the future plans of Units Network.
Published At
5/23/2024 8:00:00 PM
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