An introduction to the leading project in cross-chain interoperability and its suite of products
Overview
This is the introduction document to a series which will break down Teleport Network in much more depth, giving you a comprehensive understanding of Teleport’s groundbreaking and sometimes complex technology in a set of articles which are easy to read and understand.
This article will outline the foundation of what makes up Teleport Network and the motivation to create each product. After finishing this article, you will have a basic understanding of:
- The motivation to build Teleport Network and the problems it aims to solve
- Who the team behind this great project is
- The suite of products which Teleport Network is going to provide for users and what their use cases are
The more technical details of each product and concept will be covered in separate articles where they can be more directly explained; this article is purely an introduction.
Contents
- Motivation to Build Teleport Network
- Teleport Network’s Team and Their Experience
- Products Which Compose Teleport Network
- Community Initiatives (How You Can Get Involved)
Motivation to Build Teleport Network
The current blockchain landscape consists of a myriad of siloed blockchains connected via proprietary bridges with slow transfer speed and low liquidity. This is a major issue which is inhibiting growth within the blockchain industry as a whole, as it requires an immense amount of resources and development for each individual blockchain to provide the same services effectively.
Teleport Network has identified this issue and determined that greater interoperability between blockchains would allow for the collective growth of the blockchain industry; rather than the slower growth of each individual chain.
At Teleport Network, we truly believe in Web 3.0, and our motivation is to help remove some of the barriers which make navigating the blockchain space more difficult; allowing users to explore all chains and take advantage of all the great dApps, NFT projects and other emerging markets within the industry. Allowing for interoperability between chains is a leap forward in solving this issue, and we are working towards being at the forefront of that movement.
Teleport Network’s Team and Their Experience
Taking on such a project requires an incredibly skilled team in the blockchain field, which is exactly what we at Teleport Network have.
The founding Teleport Network team consists of seasoned head developers from major firms such as Nokia, Hewlett-Packard and Binance. Our developers have 14 years of working experience between them, with 5 of those being in the blockchain industry. In addition, Teleport Network has an amazing community development and operations team, which has played a crucial role in project adoption and publicity and will continue to do so well into the future.
Teleport Network is also very happy to have the support of Funtaro labs and ByBit, who are both helping with the project incubation and have been providing support throughout our journey.
Products Which Compose Teleport Network
The description of each of these products will be brief as there are subsequent articles which will describe the background and more technical aspects of each product. This section may simply be seen as an introduction, giving you a base-level understanding of what each product is.
TeleWallet
TeleWallet is Teleport Network’s proprietary non-custodial wallet which can be used to navigate any blockchain within the industry. Currently, TeleWallet supports both EVM and Cosmos chains, with plans to support Polkadot and Solana in the near future.
XIBC
XIBC is an adaptation of the IBC protocol used to transfer assets between blockchains via our Teleport Bridge. The key feature of XIBC is its ability to handle different blockchain structures, which is what allows Teleport Network to effectively solve the issue of interoperability by allowing chains that would otherwise not be able to communicate to do so.
Teleport’s Relay Chain
To effectively transfer assets between blockchains that may not have the same structure, Teleport Network implements the use of an additional blockchain as a relay chain, serving as an intermediary in the process of these asset transfers.
Developer SDK’s
Developers are a crucial part of every ecosystem, and giving them the necessary tools to build great projects is essential. This is why we have created our own developer Software Development Kit (SDK) suite to promote the construction of great products on our network.
Teleport Bridge and Swap
These are two essential functions on Teleport Network which other projects will be able to integrate with, giving them access to global liquidity within Teleport Network. Providing these two functions, both to developers and as stand-alone dApps, allow users and developers to easily use and integrate their projects with our system, respectively.
Community Initiatives (How You Can Get Involved)
At Teleport Network, we believe that a strong community is essential to a project’s success and longevity. Because of this, we have allocated a great amount of effort towards providing opportunities to our community to become involved in our project and gain rewards by doing so. The section below gives a brief outline of each of these opportunities with a link where you can sign up or join:
Discord and Telegram
Our community is most active on Discord and Telegram. This is where we provide real-time updates about our protocol, launch community initiatives and collect community feedback for our products. We encourage anyone interested in learning about Teleport Network to join these communities, where we are happy to answer any questions you may have and so that you may be more involved in our ever-buzzing community.
Contributor Program
Our contributor program is aimed at rewarding all active members in our community through token allocation and NFTs! Contributors of Teleport Network are asked to help complete quests which not only aim at promoting the network, but help the Teleport Network team collect the necessary feedback needed to make our products the best they can be. If you are interested in being a part of this program, please join our discord and complete the necessary quests to be registered as an eligible contributor.
Ambassador Program
Ambassadors are a key part of our community development at Teleport Network. The most active and impactful members of our community are promoted to ambassadors, where they can help promote our network and play integral roles in our community development. Applications for the ambassador program are assessed on a rolling basis, and we are always happy to welcome more impactful members into our ambassador team.
Developer Grants
Grants will be provided for developers who are looking to create great projects on Teleport Network. We understand that these projects take a great deal of time, effort and resources to complete and we are happy to provide grants to aid in the development process. If you are interested in partnering with the Teleport Network team on a project, please reach out to a verified member of our team via Discord, and we would be happy to talk about next steps.
Community AMAs + Rewards
AMAs and community calls are a great way for our members to learn more about Teleport Network and the most recent developments in the project. All of our AMAs, both within our community and in others, are always announced via our Twitter and within our Discord and Telegram. At these AMAs, we not only provide some great content about the project, but we also incentivise the community to ask great questions through cash rewards.
Conclusion
There you have it! Laid before you in the above sections is everything you need to know about who we are and what we aim to achieve at Teleport Network. With a community-centric approach ingrained as a core part of our ethos, our quest to accelerate dApps and crypto assets to a Web 3 future with unhinged interoperability within the blockchain ecosystem begins with you.
As mentioned above, our next set of articles will share further insights into our product suite, detailing the nitty-gritty of each of them as simply as possible.
Be sure to stay tuned!
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