Multichain

Multichain

MULTI
$0.782808868%-0.98

Key Metrics

Price$0.782808868
Real Volume (24H)$94,906.68
Marketcap$11,382,896.99
Fully Diluted ValuationN/A
ATH$33.64
ATH Date1/14/2022, 3:30:34 PM
ATL$2.91
ATL Date6/19/2022, 5:34:57 AM
Circulating Supply18M
Total Supply100M
WebsiteN/A
WhitepaperN/A
Popularity Rank1291
Chart
What is Multichain?

Multichain is a cross-chain router protocol (CRP) that serves as an infrastructure for on-chain asset interoperability. It aims to be the ultimate router for Web3, allowing different and diverse blockchains to communicate with each other seamlessly.

Born as Anyswap on July 20th, 2020, Multichain was created to address the clear needs of different blockchains to communicate with each other. Each blockchain has its own unique services, community, and development ecosystem. For the industry to reach the next level for consumers, there needs to be a fast, secure, inexpensive, and reliable way to exchange value, data, and exercise control between the chains.

Multichain's solutions allow almost all blockchains to inter-operate. There is no restriction to Ethereum-like chains (e.g. Binance Smart Chain), Layer 2 chains requiring finality to Ethereum (e.g. Polygon), a network of Parachains (e.g. Moonbeam in the PolkaDot system), Bitcoin-type chains (e.g. Litecoin), or COSMOS chains (e.g. Terra). These are either now all integrated, or on course for integration. With support for all ECDSA and EdDSA encrypted chains, Multichain is almost universally applicable as an interoperable layer.

The Multichain network comprises what are called SMPC nodes. These nodes exist separately from any blockchain and collectively sign transactions, but a group of them must do so together and they each only ever know part of the key to make this happen. The SMPC nodes are run by different organizations, institutions, and individuals and they are incentivized to perform their functions properly. This structure ensures that the network is decentralized and secure, with no single point of failure.

In conclusion, Multichain's interoperability solutions allows for a seamless communication between different blockchains, enabling the exchange of value, data, and control in a fast, secure, inexpensive, and reliable way. With support for almost all types of blockchains, Multichain is poised to be the ultimate router for Web3.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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