Waves project implementing DeFi adoption through Solana
By Inkarias - 2020-10-18
Solana is an ultra-fast, low-cost, low-latency layer 1 blockchain. This reliable network allows developers to combine the secure and self-sovereign properties of blockchains with front-end experience indistinguishable from the modern web. Thus, Solana will be the first external addition to Waves’ ecosystem to achieving mass adoption of inter-chain DeFi through the Gravity interoperability protocol. This implementation will makes available data transfers between Gravity network participants. Alexey Pupyshev, co-creator of Gravity protocol shared that :
“Thanks to the Solana integration, Gravity becomes a more enriched infrastructure that enables developers to create universally connected dApps, with more opportunities for practical implementation and mass adoption of DeFi,”
The first steps and future improvements
In the initial phase, Gravity will integrate Solana as a target chain, allowing its blockchain to work in conjunction with other integrated chains, oracle systems and data providers and driving the usage of Solana’s native token SOL. Simultaneously, Solana developers and users/investors will be able to use other chains’ tokens as payment on its blockchain network and to issue popular tokens of other target chains that are integrated into Gravity.The integration of the Solana blockchain into the Gravity protocol will offer the community multiple benefits, including but not limited to the following:
The SOL token will be available on exchanges based on Waves and future Gravity target chains, while tokens issued on Waves will be available on Solana.
Solana and Waves’ dApp developers will be able to use data feed services of Gravity oracles.
Solana and Waves developers will be able to create cross-chain dApps operable in both chains (and, subsequently, in other chains connected through Gravity) via wallets and browser extensions preferred by users.
Cross-chain dApps will be able to combine the advantages of both protocols: Solana capacity and Waves simplicity.
More information on Solana integration at https://waves.tech/waves-protocol