WTAA Protocol Officially Launched a New Milestone for Decentralized Finance in the Web3 Era
The WTAA protocol has been officially released in the Xrpalike Gene github project. The open-source repository is located at: https://github.com/xrpgen/wtaa. This release is a major technical milestone.
The developers at Xrpalike Gene have been taking feedback and suggestions as they extend the various applications and features of XAG Ledger to integrate the various scenarios facing Web3 in the future. There is a huge scope for WTAA to play a role in the booming decentralized finance sector.
Using WTAA’s solution, it is possible to add side chains to the Xrpalike Gene public chain or other parallel master chains. In fact, side chains have become a popular new solution for block chain developers trying to solve the scaling problem. These parallel ledgers, whether for DeFi or other use cases, will become more streamlined and efficient. The WTAA protocol can also provide interoperability for native smart contracts and other functions to extend the wider XAG ecosystem.
In order to facilitate this interoperability, the WTAA protocol proposes an API standard that contains how sending and receiving are defined and the corresponding parameters can be generated dynamically (a more user-friendly interface). Through this protocol, one end is connected to the main chain and the other to one or more side chains (parallel master chains). Through such integration, block chain developers can experiment with various new solutions to scaling problems and integrate new functionality into established block chain ecosystems such as Ethereum. Block chain developers can also integrate applications that are already in other block chain ecosystems into the XAG ecosystem. Such integration is a two-way street. During the integration process, developers will find that other tokens on the XAG public chain are converted to the corresponding chain with a single click by using XAG as a medium – transferring value has never been easier and more efficient.
Every gateway (entity issuing assets) will be eligible to integrate WTAA. This process is not complicated and only requires the addition of a text file (wtaa.json) and two APIs to the website-good design results in a lower technical threshold.
WTAA is the beginning of the XAG public chain’s embrace of Web3, with the strengths of its beautiful design, low-risk approach, strong horizontal scalability, flexible support for new block chain experimentation and a long-term vision that can accommodate an evolving toolset and ongoing feedback on new side chain development.