Blockchain

Cross-Chain Router Protocol Multichain Integrates With NEAR

Cross-Chain router protocol Multichain announced its integration with NEAR, which enables USDT, USDC and wBTC to be bridged between NEAR and other chains supported by Multichain.

According to the statement, the combined initial liquidity between the NEAR side and EVM chains side is currently over $30 million. Next, Multichain plans to add liquidity for ETH.

The USDT deployed on NEAR is the native USDT issued by Tether, and the USDC deployed is the Rainbow bridge version of USDC. Additionally, the NEAR token can be transferred between NEAR Protocol and Ethereum.

NEAR Protocol is a smart contract capable, public Proof-of-Stake (PoS) blockchain that was conceptualized as a community-run cloud computing platform. Built by the NEAR Collective, NEAR was designed to host decentralized applications (dApps), and strives to compete with Ethereum and other leading smart contract-enabled blockchains like EOS and Polkadot.

NEAR’s native token is also called NEAR, and is used to pay for transaction fees and storage. NEAR tokens can also be staked by token holders who participate in achieving network consensus as transaction validators.

NEAR Protocol is focused on creating a developer and user-friendly platform. To accommodate this mission, NEAR has incorporated features like human-readable account names as opposed to only cryptographic wallet addresses, and the ability for new users to interact with dApps and smart contracts without requiring a wallet at all.

The mission is to build a multi-chain ecosystem where a billion people can freely roam among the Web3, and the addition of NEAR Protocol to the cross-chain router protocol ecosystem takes the blockchain to achieve that goal.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.