WEMIX Introduces ‘Unagi’ – A New Omnichain Initiative That Transcends Blockchain Boundaries

September 5, 2023 – Seoul, South Korea

Unagi aims to create a vast ecosystem to drive common growth of global blockchains. A complete user-customized omnichain network to easily and conveniently utilize services across multiple blockchains. All platforms and DApps are connected as one with blockchains bringing complementary strengths to the ecosystem.

WEMIX has unveiled unagi – short for ‘Unbound Networking and Accelerating Growth Initiative’ – which aims to construct an all-encompassing ecosystem that goes beyond the limitations of diverse blockchains by seamlessly integrating, connecting and encompassing multiple networks, fostering an environment where they coexist harmoniously.

This need for an omnichain ecosystem that taps the potential for innovative synergy between blockchains is increasingly important amid the growing number and diversity of emerging blockchains.

Overcoming existing integration challenges 

Proposed by the WEMIX Foundation, the launch of unagi marks a pivotal turning point with the potential to overcome existing challenges.

Unagi is designed to accelerate the mass adoption of blockchain by seamlessly integrating diverse blockchains and services, helping to address the multifaceted challenges that arise during chain interactions and providing a seamless immersion into a wide array of blockchain experiences.

With unagi, you can transcend the boundaries between chains and experience integrated transactions and comprehensive asset management.

Core mechanism

At its core, unagi accomplishes a highly accessible omnichain, spanning on-chain and off-chain domains, through a messaging protocol known as unagi(x).

This protocol supports decentralized off-chain messaging in addition to on-chain messaging, surmounting the computational limitations associated with contracts running on specific blockchains.

This is achieved through a decentralized validation method, ensuring swift and secure transactions across heterogeneous chains that are completely reliable, both on-chain and off-chain.

Unagi enhances various aspects of blockchain activity, aiding in optimal route discovery for DApps, reducing fees and supporting gas fee delegation services.

Connecting eight major blockchains

Moreover, unagi(x) will initially support EVM networks and expand its compatibility to non-EVM environments in the future, reducing entry barriers and enabling utilization of existing smart contracts.

An initial group of eight major blockchains…