Wire Network has announced the launch of its interoperability protocol called Universal Polymorphic Address Protocol (UPAP). The protocol aims to enable users have a wallet address to send and receive NFTs, perform cryptocurrency swaps, and add liquidity pairs across any blockchain. The blockchain network stated that alpha versions of the universal wallet are currently accessible through its NFT marketplace, and play-to-earn decentralised 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 centralised operations, Ken DiCross, CEO, Wire Network, stated. “The UPAP protocol aims to be decentralised, require no bridges, no oracles, and offer low-fee service that is more secure from cyberattacks. We anticipate adoption from every chain, wallet, and user,” he added.
According to Wire network, the UPAP interoperability protocol is a blockchain technology that leads a line-up of innovations focused on usability, gaming, scalability, and security for cryptocurrencies and dapps. Developers will be able to adopt and integrate the software development kit (SDK) into their wallets to provide users with UPAP functionality. The UPAP wallet aims to integrate with any blockchain that uses an elliptic curve digital signature algorithm (ECDSA) key pair such as Bitcoin, Ethereum, Solana, Cardano, Wax, Algorand, among others. Just by knowing a recipient’s universal wallet address, users can send and receive any Web3.0 asset, making UPAP a protocol that allows sending of digital assets from any chain to one universal wallet without any barrier, the company claims.