ChainsAtlas and aelf from Singapore are working together to make it easier for their blockchains to work together. The agreement should also help more people get involved in the Web3 community and use decentralized applications (DAPPs) more. The teamwork happens when more and more DAPPs are being used in finance and business.
ChainsAtlas signs an agreement to connect DAPPs together.
On Monday, ChainsAtlas, a company that makes blockchain technology, teamed up with AELF, a company that makes scalable blockchain technology. In the agreement, aelf will use ChainsAtlas’ technology to bring DAPPs from different blockchains into the aelf blockchain, no matter what smart contract rules they follow.
Aelf wants different developers to be able to use its blockchain.
The agreement between the two companies will also cover ChainsAtlas’ Virtualization Unit (VU). The VU can help the aelf blockchain to handle both EVM and non-EVM digital assets, making it possible for different blockchains to work together.
ChainsAtlas’ technology will help aelf to understand and carry out smart contracts by making it easier for data and assets to move between aelf and other blockchains. These agreements can be written in different languages that ChainsAtlas can use.
“This agreement will help people in the Web3 community get access to a wider variety of digital assets on aelf. It will also help them become more involved in the community. ”
The aelf blockchain will become better at running different kinds of apps and games. People who know a little or a lot about coding will be able to create things on the aelf blockchain.
DApps use expected to grow by 2030.
Decentralized applications are programs that run on a network of computers or a blockchain instead of just one computer. They are used in many different areas. These apps, also known as DApps, are not controlled by one organization.
DAPPs are made for things like social media, games, and banking. The Fintech industry uses Ethereum-based apps the most.
The worldwide decentralized finance market was worth $13. 61 billion in 2022, as found by Grand View Research. The DeFi industry is expected to grow by 46. 0% each year from 2023 to 2030.