Coinweb Completes Integration of 4 New Blockchains Delivering Along its Roadmap for Cross-Chain Interoperability

Apr 18, 2023 | Business

Coinweb, a layer-2 protocol unifying blockchain’s interoperability, announced the success of integrating four more chains into its expandable blockchain infrastructure. Prior to BNB, Polygon, MultiversX (formerly known as Elrond) and Kujira; Bitcoin, Bitcoin Cash, Litecoin and Ethereum were already part of Coinweb’s underlying networks. To date, Coinweb has executed over 4 million transactions since December 2020, and is responsible for an average of 0.3% of all daily transactions being broadcast to the BNB chain in March 2023.
With these current eight blockchains integrated, Coinweb continues to prove its bold statement of enabling dApps built on top of Coinweb to take advantage of multiple chains’ desired features and the flexibility to migrate seamlessly from one chain to another. Blockchain-agnostic tokens that are created on LinkMint — Coinweb’s cross-chain tokenization platform, will now have the option to choose to be embedded in any of these underlying chains, moving between them without the need to hold gas balances of each native layer-1 token. This removes key bottlenecks in delivering interoperability and breaking blockchains out of their individual silos.

“Further proving that projects on Coinweb can run Smart Contract using Ethereum, execute token transactions with MultiversX, store data ledger on Bitcoin, and so on, we have been identifying the optimal mesh of chains to integrate, enhancing features and functionalities of the platform,” stated Coinweb CEO & Co-founder Toby Gilbert. “The ability to provide true interoperability without compromising layer-1 consensus is key to delivering blockchain adoption for many large-scale enterprises and blockchain projects that have legitimate concerns tying themselves into one network.”

Dove, Co-founder at Kujira, a blockchain built with the Cosmos SDK commented, “As a decentralized ecosystem for protocols, builders and web3 users seeking sustainable FinTech, we are looking forward to this collaboration with Coinweb.” He further stated, “We find our mission of providing easy and cost-effective building tools for everyone resonates with Coinweb’s existing platform and product offerings. I believe Kujira will play an important role in enabling Coinweb’s access to the Cosmos ecosystem in a secure and interoperable manner.”

About Coinweb

The Coinweb Protocol is a platform used to run decentralised applications on top of multiple different blockchains using them as one. This allows developers of applications to combine the best properties and functionalities of each blockchain.

Coinweb Labs is a design and build consultancy service that creates custom-built and turnkey solutions for decentralised applications interacting with Web3. Coinweb Labs is responsible for building third-party projects on top of the Coinweb protocol and incubating new projects.

For more information, visit https://coinweb.io
Twitter: @CoinwebOfficial
Telegram: Coinweb.io

Contact information:
Ain Mohd
+66 6143 28757
ain@coinweb.io


Topic: Press release summary

Coinweb has Closed $2 Million Fundraising Round from SAVA Investment Management

Apr 4, 2023 | Business

SAVA Investment Management, a licensed fund manager registered in the Cayman Islands and British Virgin Islands, has partnered with Coinweb to buy back 6% of the total supply of CWEB tokens.
Johan Ditz Lemche, Managing Director of SAVA Investment Management, said, “We are delighted to support and invest in Coinweb. The project has shown tremendous progress in its technology and well-developed business strategy. We recognise Coinweb’s resilience and dedication to innovation within the current environment of the digital asset space.”

Toby Gilbert, CEO & Co-Founder, expressed his satisfaction with the partnership and explained that the tokens will be used for continued ecosystem build-out, as the project moves to full production readiness in anticipation of the mainnet launch, “We are proud to announce this strategic partnership. SAVA understands and is aligned with our core values. This is a significant vote of confidence during this challenging period. The remaining founding members and I are extending both the lockup and vesting period of our own tokens to show our long-term commitment to the project and give a strong signal to our community.”

In 2022 Coinweb released a cross-chain tokenisation platform; LinkMint, a native marketplace; DeconX, and a multi-tenancy wallet. The blockchain-agnostic protocol lowers the barrier to entry for large enterprises while ensuring the continuity of the liveness of these projects.

About Coinweb

The Coinweb Protocol is a platform used to run decentralised applications on top of multiple different blockchains using them as one. This allows developers of applications to combine the best properties and functionalities of each blockchain.

Coinweb Labs is a design and build consultancy service that creates custom-built and turnkey solutions for decentralised applications interacting with Web3. Coinweb Labs is responsible for building third-party projects on top of the Coinweb protocol and incubating new projects.
For more information, visit coinweb.io

Twitter: @CoinwebOfficial
Telegram: Coinweb.io

CONTACT INFORMATION:
Ain Mohd
+66 6143 28757
ain@coinweb.io


Topic: Press release summary