Published
5 months ago on
November 08, 2023
Cross-chain CEX and DEX integrator RocketX has announced its support for MicroVision Chain, one of the most promising Bitcoin scaling solutions, making it interoperable with more than 100 leading blockchain networks.
RocketX said its integration with MicroVision Chain will enable users to transfer assets including the $SPACE token to and from that network with the click of a button, streamlining decentralized finance interactions. Users will benefit from “single-click transactions” and a simplified onboarding process onto MicroVision Chain. Not only will it eliminate the need for complex liquidity management for apps building on MicroVision Chain, but it will have the effect of increasing the volume of transactions and network activity by enabling it to connect easily to diverse blockchains to establish an “interconnected DeFi environment”, the company said.
It’s a promising development because MicroVision Chain is an intriguing project that has set itself the goal of becoming the premier sidechain to Bitcoin. It’s based on a hybrid unspent transaction output (UTXO) and Proof-of-Work (PoW) model that combines to deliver what its developers say is blazing-fast performance, efficiency and cost-effectiveness for the world’s premier cryptocurrency.
MicroVision Chain is more than just a sidechain though, as it also has ambitions to become a scalable and secure platform for dApps in its own right. It boasts smart contract capabilities based on the UTXO model, and supports decentralized identities (DIDs) for Web3 applications, ensuring data ownership and interoperability across dApps.
With RocketX, MicroVision Chain says it can now offer a seamless experience for its users as they access multi-chain ecosystems. RocketX is emerging as a key enabler of blockchain interoperability, providing a single, simplified user interface that provides access to aggregated liquidity from more than 450 decentralized and centralized exchange platforms. It can be thought of as a single liquidity pool that spans the vast majority of crypto trading platforms, bridging the gap between CEXs and DEXs and making it easy to trade tokens across them. As an added benefit, RocketX does this is a non-custodial fashion, meaning users always retain control of their funds. RocketX Chief Technology Officer Davinder Singh signaled that the integration with MicroVision Chain is another key milestone towards achieving interoperability across all blockchains.
"We are witnessing the breaking of barriers between isolated blockchains, marking a significant milestone towards a multi-chain future," he said. “This integration enables decentralized applications and DeFi users to transcend the traditional limitations of blockchain technology, fostering an environment ripe for innovation and growth.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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