Wire Network announced the launch of its interoperability protocol called Universal Polymorphic Address Protocol (UPAP). The protocol aims to allow users to have a wallet address to send and receive NFTs, perform cryptocurrency exchanges, and add liquidity pairs on any blockchain. The blockchain network said alpha versions of the universal wallet are currently accessible through its NFT marketplace, and decentralized game-to-win applications (dapps) such as R4R3 and Dragon Spawn will soon be available through UPAP-enabled wallet partners TheWallet and MegaMask. .
While other competitors have attempted interoperability, they are limited by procedures, blockchain bridges, oracles or centralized operations, said Wire Network CEO Ken DiCross. “UPAP aims to be decentralized, requires no bridges, no oracles, and offers a low-cost and more secure service against cyberattacks. We anticipate adoption by every channel, wallet and user,” he added.
According to the Wire network, the UPAP interoperability protocol is a blockchain technology that drives a range of innovations focused on usability, gaming, scalability, and security of cryptocurrencies and dapps. Developers will be able to adopt and integrate the Software Development Kit (SDK) into their portfolios to provide users with UPAP functionality. The UPAP wallet aims to integrate with any blockchain that uses an ECDSA (Elliptic Curve Digital Signature Algorithm) key pair such as Bitcoin, Ethereum, Solana, Cardano, Wax, Algorand, among others. By simply knowing a recipient’s universal wallet address, users can send and receive any Web3.0 asset, making UPAP a protocol that allows digital assets to be sent from any chain to a barrier-free universal wallet, the company claims.