Wire Network, a 3rd-generation, Layer-1 blockchain, has launched its interoperability protocol.
Universal Polymorphic Address Protocol (UPAP) provides users with a universal, readable wallet address to send and receive NFTs, perform cryptocurrency swaps, and add liquidity pairs across any blockchain.
The UPAP Interoperability Protocol is a breakthrough blockchain technology that leads a line-up of first-to-market innovations focused on usability, gaming, scalability, and security for cryptocurrencies and decentralized applications (dapps).
“Other competitors have attempted interoperability but they are limited by complex procedures and centralized operations. In comparison, our protocol is fully decentralized, requires no bridges or oracles, and offers low-fee service that is more secure against cyberattacks,” said Ken DiCross, CEO of Wire Network.
“UPAP is the future of usability in Web3 and we anticipate adoption from every corner of the crypto universe.”
The universal wallet is currently accessible through Wire’s NFT marketplace and play-to-earn dapp, R4R3 and Dragon Spawn, and will soon be available broadly via UPAP-enabled wallet partners TheWallet and MetaMask.
Will be able to adopt and integrate the SDK into their wallets to provide users with UPAP functionality.
This means once a digital asset is held by a UPAP wallet holder (Thereby entering its ecosystem) the asset inherits interoperability which enables users to trade assets while bypassing transaction fees of the native chain.
UPAP Wallets integrate with any blockchain that uses an ECDSA key pair like Bitcoin, Ethereum, Solana, Cardano, Wax, Algorand, and all others.
Simply import a mnemonic code from your favourite wallet and it will render a UPAP wallet address which will unlock all protocols representing any blockchain. By knowing a recipient’s universal wallet address, you can send and receive any Web3 asset authoritatively and securely.
This makes UPAP a first-in-class protocol that empowers users to send digital assets from any chain to one universal wallet without barriers.
“Domain names created a standard readable convention for web servers. Linux created a standardized environment for running code on web servers. Currently, Ethereum addresses are different from Solana addresses which are different from Bitcoin addresses, etc.
UPAP translates these various address types in a standardized manner, enabling assets that exist on different protocols, to be universally accessed, traded, or transacted on by UPAP enabled wallets, without knowledge of the assets chain of custody.” said Kyle Dolan, CTO of Wire Network.
Wire Network is gearing up for the launch of its NFT sale of Wire Network Nodes, which provide owner’s governance, network resources, premium memberships, and token rewards exclusive to Wire Network.