What Is Multichain?
Multichain is an interoperable layer that supports cross-chain communication between diverse blockchains.
Background
Initially launched as Anyswap in July 2020, Multichain was developed to fulfill the need for different blockchains to communicate. It supports many chains, including Ethereum-like chains, Layer 2 chains, Parachains, Bitcoin-type chains, and COSMOS chains.
How It Works
Multichain operates using a network of SMPC (Secure Multi-Party Computation) nodes that sign transactions collectively. Various organizations, institutions, and individuals run the SMPC nodes. Multichain offers several services, including Bridge and Router for asset transfers, anyCall for cross-chain contract calls, and bridges and routers for NFTs. The platform is trustless, controlled by code, and open-source, ensuring its decentralization.
Key Takeaways
- Multichain is a bridge that supports cross-chain communication between blockchains, allowing the exchange of value, data, and control.
- It was initially launched as Anyswap in July 2020 to address the need for diverse blockchains to communicate with each other.
- Multichain supports various chains, including Ethereum-like chains, Layer 2 chains, Parachains, Bitcoin-type chains, and COSMOS chains.
- It operates using a network of SMPC nodes that sign transactions collectively. Various organizations, institutions, and individuals run these nodes.
- The platform offers several services, including Bridge and Router for asset transfers, anyCall for cross-chain contract calls, and bridges and routers for NFTs.
