Meter Partners with Tixl to Collaborate on Cross-Chain Bridge Development
We will work together with Tixl to accelerate the development of cross-chain bridges for both networks.
We are excited to announce our partnership with Tixl to collaborate on the development of token bridges between different networks!
One of our goals is to create interoperability with other public blockchains to enable value interaction between them and help them scale. And this partnership will get us closer to that goal much more quickly.
How will Meter and Tixl collaborate?
Meter and Tixl are both developing fast, low-fee, interoperable Layer 1 networks for DeFi. One could argue that we are competitors, but our technical approaches are different and our networks have various use cases.
Nonetheless, we share a similar goal — to build decentralized bridges that facilitate interoperability between multiple blockchains.
Implementation of these bridges is no simple task because:
- They require creating cross-chain smart contracts to lock up and transfer funds in a secure way.
- There are few existing open-source, decentralized bridges, so research and development has to primarily be done independently.
Our development teams will work together to accelerate the development of these cross-chain bridges for the Meter network and Tixl’s Autobahn Network. We will share knowledge, best practices, and code to connect many popular blockchains more quickly, securely, and efficiently.
We will also explore ways to connect the Tixl and Meter networks, such as bringing MTR to the Autobahn Network and TXL to the Meter network. Both MTR and TXL can benefit by extending their ecosystem and increasing the adoption of their tokens.
“Meter and Tixl share the same goal — to enable multiple blockchains to interoperate and transfer value with each other. Tixl has done great work building the Autobahn Network, and we have a lot to learn from them and a lot of knowledge to share as well. This partnership will accelerate the development of cross-chain bridges significantly.”
Xiaohan Zhu, Co-Founder and CEO of Meter
We are looking forward to working with and learning from the Tixl team!
Stay tuned for more information on when these will take place.
Backed by well-known investors, the German Tixl Organization consists of an experienced team currently building the interoperable Tixl Ecosystem for Decentralized Finance (DeFi).
Tixl’s vision is the mainstream adoption of cryptocurrencies and blockchain technology for everything DeFi related. At the core of the Tixl Ecosystem is a layer 1 platform called “Autobahn Network” which serves as a base platform allowing the transfer of any digital asset instantly, with almost zero fees and with full AML-compliant privacy for authorized service providers.
Following the launch of the Tixl Wallet, the first major DeFi product using the Autobahn Network and its Autobahn SDK will be the Tixl Exchange, a scalable Swap DEX for BTC, ETH and other assets launched by Tixl in December 2020.
Tixl’s Autobahn technology can be utilized for any other DeFi product. The ability to provide instant, fully-interoperable transactions with minimal costs and optional privacy is equally essential for payment and lending solutions, liquidity programming, yield farming, decentralized insurance and many other activities.
You can follow Tixl on social media here:
- Website: https://tixl.me
- Autobahn Network Website: https://autobahn.network
- Twitter: https://twitter.com/tixlcurrency
- Telegram: https://twitter.com/tixlcurrency
- Reddit: https://www.reddit.com/r/tixl
- YouTube: Tixl’s YouTube Playlist
- Discord: https://discord.gg/dzVzMdp
Meter is DeFi infrastructure with a built-in, crypto-native, metastable currency. Meter functions as a highly-decentralized, high-performance sidechain for Ethereum and other public chains.
The Meter system uses Proof of Work to create a fully-decentralized, low-volatility coin MTR for fees and payments, and HotStuff-based Proof of Stake with the MTRG governance coin to validate transactions.
This hybrid consensus mechanism makes Meter fast — the system can process thousands of transactions per second, reaching finality almost instantly — and super secure.
DeFi app developers can also use Meter’s highly-decentralized, HotStuff-consensus PoS chain as an EVM-compatible sidechain to increase the speed and scalability of decentralized exchanges, derivative trading platforms, yield farming programs, and other DeFi apps.
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Originally published at https://www.meter.io on October 9, 2020.