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0x nodes - Addressing DeFi's interoperability issue

The inability to transfer currency quickly between blockchains is impeding progress in the decentralised finance sector. The 0x nodes project offers a solution.

0x is critical infrastructure for the burgeoning crypto economy, allowing for the creation of marketplaces that could not exist before. As more assets are tokenized, public blockchains offer the possibility of establishing a new financial stack that is more efficient, transparent, and equitable than any previous system.

The lack of interoperability between blockchains is one of the core issues in today's crypto ecosystem. The capacity to effortlessly transfer money between blockchains will usher in the next growth cycle in decentralised finance, creating enormous value for the larger financial ecosystem.

0x nodes, a cross-chain yield aggregation network, is one of the latest crypto initiatives attempting to resolve this issue. 0x nodes is a network of deployed systems that enable users to move, purchase, and develop yield-bearing strategies using non-native assets across Ethereum and non-Ethereum-based blockchains.

Owl, a developer who goes by the alias 0x nodes, is one of the project's creators. Owl was a recent guest on The Crypto Conversation show, where he discussed the project's ambitions in depth.

Owl said he prefers to use the following analogy to explain 0x nodes' broader vision. “To a non-technical user, today's internet experience feels seamless,” he explains. Video streaming, zoom calls, smartphone apps, gaming, and social media are all possibilities. Everything is connected and works flawlessly. 0x nodes aspires to end the fragmentation of the Ethereum network through innovation and rapid development cycles, and to make interoperability a norm for everybody. This immediately enables far broader yield aggregation options. Finally, the ability to exchange value between blockchains will open up a whole new universe of financial products and services.”

Long-term benefit to the ecosystem

0x nodes concluded a $4.2 million financing round in May. Techemy Capital, Magnus Capital, SkyVision Capital, MW Partners, Rarestone, BlockSync Ventures, and LaunchCode Capital are among the strategic investors. With this new funding, 0x nodes is well-positioned to be a pioneer in the rapidly developing multichain environment, simplifying multichain liquidity and creating long-term value.

According to Owl, one of their goals is to provide long-term value to its investors and users. “These are the folks who can see the vision we're attempting to create,” he says.

A secondary goal is to create a product that can be used in both bull and down markets. “That's one of the protocol's most appealing features. We can capture volatility deltas in our protocol and return them to long-term and short-term investors regardless of market conditions.”

0x nodes solution

0x nodes is a cross-chain protocol that allows for synthetic asset moves between blockchains, allowing for more sophisticated yield aggregation schemes. The project believes that the ability to move money between blockchains would open up a whole new universe of financial products and services, similar to how high-speed internet connectivity altered how we work, communicate, and are entertained today.

ox Nodes
source: ox_nodes

0x nodes will first launch on the Ethereum mainnet, deploying nodes across the Ethereum Virtual Machine (EVM) ecosystem. With the goal of creating user-friendly systems, the 0x nodes system is complicated behind the scenes yet simply understood and does not require a reference library of content to operate.

According to the proposal, instead of a spoke network topology, 0x nodes will consist of a core mesh network amongst EVM ecosystems, eventually connecting the EVM network to other blockchain networks. This unidirectional yield aggregation drawing from EVMs to the mainnet will open up new yield opportunities while also simplifying the user experience.

Designed for the future

We are living in the midst of a technological revolution. The internet has fundamentally transformed the way we work, spend our leisure time, and play in ways that we could only have imagined 20 years ago. The same scenario is expected to occur with blockchain and decentralised finance.

0x nodes aspires to end the fragmentation of the Ethereum network — and make interoperability a norm for everybody — through innovative innovation and rapid development cycles.

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