On the 22nd of December 2020, Stratis will be releasing InterFlux, the blockchain-agnostic and open-source protocol for communication between public and private blockchain solutions. Stratis InterFlux already fully supports interoperability with IBM’s HyperLedger Fabric; however, the upcoming public release will also incorporate support for Ethereum, enabling bi-directional communication between both Stratis Blockchain Technology and the Ethereum ecosystem.
Stratis is very aware of developments that have taken place within the public-blockchain space. This has become prevalent with the exponential growth of decentralized finance (DeFi) offerings such as UniSwap, Maker and Curve. This focus has led to the further development of Stratis’ interoperability solution. Stratis InterFlux will provide interoperability between the Stratis (STRAX) Blockchain and the Ethereum blockchain, bringing xETH to Stratis Blockchain Technologies and, importantly, wSTRAX to the Ethereum Blockchain. In a nutshell, Stratis InterFlux enables a seamless exchange of the STRAX Token to an equivalent Token on the Ethereum Blockchain, a token known as wSTRAX. The wSTRAX Token will fully leverage recent developments within the DeFi domain, taking advantage of rich liquidity pools and decentralized lending protocols available through Ethereum ecosystem.
Furthermore, Stratis InterFlux serves as a Layer-2 Scaling solution for existing Ethereum deployments. Using the management of non-fungible tokens (NFTs) as an example, the exchange of multiple assets, and where necessary, bundling of assets presents challenges within the current Ethereum ecosystem. These fundamental challenges directly revolve around the transactional/computational cost of performing frequent transfers of tokens. Overcoming such challenges can be achieved efficiently through issuing a representative NFT using Stratis Blockchain Technologies, such as Sidechains. Thus providing genuinely predictable transactional costs whilst retaining trustlessness in a decentralized manner.
The development of an interoperability solution between Stratis Blockchain Technologies and IBM’s Blockchain Solutions, as with all Stratis’ products, was developed with extensibility in mind. Stratis InterFlux attests to that through the rapid support of another blockchain platform. Stratis is keeping a close eye on projects and ecosystems within the public-blockchain domain and is already targeting Binance Chain as an additional ecosystem to be supported by our interoperability solution.
Join Stratis’ ever-growing community to discuss the further advantages to the developments as mentioned above, and also, how the ‘wrapping’ of other blockchain tokens can offer additional benefit to Stratis Blockchain Technologies.