Auckland, New Zealand, May 1, 2024, Chainwire
Acala Network releases a new technology roadmap that outlines the steps needed to provide multi-chain services to users.
Acala, the foundational platform within the Polkadot ecosystem, announces the Sinai Upgrade, a significant advancement in the Acala 2.0 initiative aimed at broadening the horizons of crypto finance overall. This upgrade aims to enhance the platform’s multi-chain capabilities and set a new standard for decentralized finance (DeFi) not just across Polkadot, but across layer 1, 2, or 3 blockchain networks.
Multi-chain integration and enhanced DeFi accessibility
The cornerstone of Sinai Upgrade is its focus on multi-chain integration that facilitates seamless interaction between diverse blockchain environments. Acala greatly simplifies the multichain experience for users with the introduction of advanced one-click multichain cross-stack DeFi features. This feature leverages pioneering technologies such as XCM (cross-consensus messaging) and wormholes to enable easy and efficient cross-chain transactions. Users will be able to easily participate in activities such as staking, liquidity provisioning, and lending across major blockchain platforms such as Polkadot, Ethereum, Solana, and select blockchain networks.
Empowering communities through open governance
To further strengthen its ecosystem, Acala is introducing open governance upgrades that allow the community to directly engage in governance decisions. This democratizes the ecosystem evolution process, empowers users to influence things like financial management and DEX listings, and fosters a transparent and inclusive community environment.
Frontline security and performance
The Sinai upgrade also addresses critical security needs in a growing multi-chain environment. Sentinel launch,
Together with asynchronous backing, it strengthens security and increases transaction throughput, allowing Acala to remain at the cutting edge of blockchain performance.
Strengthening the aSEED pathway
Along with these technological advances, the Sinai upgrade completes the aSEED pathway and facilitates a stable and fair process for the conversion and redemption of aSEED tokens. This includes establishing clear reimbursement criteria that reflects Akara’s commitment to maintaining trust and stability within the community and promises a fair and transparent framework for remaining aSEED holders.
Words from Brian Chen, Chief Technology Officer, Acala
“The Sinai upgrade is a testament to Acala’s dedication to strengthening the DeFi ecosystem through robust multi-chain solutions,” said Brian Chen. “As a Polkadot native platform, we are uniquely positioned to lead the way towards a more interconnected and efficient blockchain world.”
About Akara
Acala is the premier platform for decentralized finance within the Polkadot network, offering innovative solutions designed to integrate and enhance liquidity across a wide range of blockchain environments. Acala is committed to innovation, security, and community empowerment, and is leading the advancement of blockchain technology for users and institutions around the world.
contact
PMM
travis wilkerson
akara network
travis@acala.network
Source: www.the-blockchain.com
