Waterfall Network integrates with Portal DeFi to improve cross-chain Bitcoin transactions.

quick take

Waterfall Network and Portal DeFi have joined forces to revolutionize blockchain by solving the speed, security, and scalability trilemma. The integration provides a seamless connection between Bitcoin and digital assets, promising fast and secure cross-chain transactions.

Waterfall Network integrates with Portal DeFi to enhance DEX capabilities, enabling secure, private, cross-chain transactions between Bitcoin and other digital assets.

L1 protocol waterfall network announced a merger with Portal DeFi, a self-hosted wallet and bridge-free cross-chain layer 2 DEX built on top of Bitcoin. This strategic partnership aims to solve the long-standing trilemma of speed, security and scalability in the blockchain world and is poised to bring significant innovation to the DeFi landscape.

Waterfall Network’s protocol provides a powerful solution to the trilemma by providing a layer 1 infrastructure that solves the core problems of blockchain technology. This integration is particularly noteworthy due to Waterfall’s compatibility with the Ethereum Virtual Machine (EVM). EVM ensures seamless adoption by the existing vast community of Ethereum developers, eliminating the need to learn new programming languages. Waterfall Network also integrates innovative “Directed Acyclic Graph” (DAG) technology that promises virtually unlimited scalability and portability of decentralized applications (dApps) while maintaining low processing power requirements, allowing anyone interested in running a validator node. Make it accessible to people.

Portal DeFi’s role in this partnership is equally important. As a bridge-free cross-chain layer 2 DEX, it introduces a new approach to cross-chain transactions, facilitating seamless, fast, and secure asset transfers between Bitcoin and other digital assets. This innovation is especially timely as various blockchain chains and assets grow in popularity.

Sergii Grybniak, BlueWave CTO and Waterfall Network Research Director, “The combination of AMM and Layer 2 to make transactions faster, cheaper and more secure is a meaningful collaboration of the first time in the industry. Waterfall Network recognizes the growing popularity of chains and assets going forward and is excited to work with Portal to improve cross-chain transactions built on the strong foundation of Bitcoin.”

Highlights of the integration include:

• Atomic Exchange Function: Integrated into Waterfall Network’s ecosystem, Portal’s Layer 2 cross-chain Atomic Swaps feature ensures secure, private transactions between Bitcoin and other digital assets, eliminating the need for traditional bridge solutions.
• AMM Contract and Layer 2 Integration: With Automated Market Maker (AMM) contracts compatible with multiple chains, the integration simplifies the process of private swaps, making it fast and cost-effective.
• Testnet progress and mainnet launch: Portal DEX is currently in testing and its contracts are undergoing rigorous review. At the same time, Waterfall Network recently launched Testnet 8, paving the way for its mainnet launch in the coming months.

Chandra Duggirala, co-founder and CEO of Portal. Highlighting the advantages of this integration over traditional bridge solutions, he said: “Unlike traditional bridge solutions and wrappers, which can be cumbersome, require management, and are vulnerable to security threats, Portal’s integration with Waterfall Network enables fast and secure transactions.”

The collaboration between Waterfall Network and Portal DeFi represents a fusion of cutting-edge technology and industry expertise. Waterfall Network’s focus on speed and scalability, combined with Portal’s innovative approach to cross-chain transactions, positions both companies as leaders in the rapidly evolving DeFi landscape. This partnership marks a significant step forward in driving mass adoption and continued innovation within the blockchain industry and promises a secure, efficient and user-friendly platform for cross-chain transactions. As pioneers in their respective fields, they are poised to reshape the future of DeFi and accelerate the growth of the industry.

Also read: Waterfall Network raises $2 million in funding ahead of mainnet launch in 2024