On Wednesday, Komodo, a network with a multi-chain architecture, announced the introduction of 12 protocols for its non-multi-currency software wallet and decentralized exchange, AtomicDEX. The 12 protocols include Avalanche, Polygon, Harmony, Fantom, smartBCH, Ethereum Classic, Moonriver, KuCoin Community Chain, Huobi ECO Chain, Ubiq, Arbitrum, and Optimism, the last two being wallet-only. After the upgrade, users will be able to exchange Avalanche tokens for Polygon, Ethereum for Binance Smart Chain (BSC), etc., and vice versa.
Unlike cross-chain functionality, multi-chain allows users to access cryptocurrency without using encapsulated tokens or proxy tokens, with the potential for better security outcomes. Kadan Stadelmann, CTO at Komodo, commented:
“The addition of protocols like Polygon and Avalanche brings a whole new level of user accessibility, allowing for faster and smoother transactions across threads and protocols while preserving their keys.”
According to Komodo, a year ago, AtomicDEX integrated BSC and made its first cross-chain transition from BSC to a non-BEP-20 blockchain (BSC). As a fiduciary wallet, users can store funds or withdraw funds to an external wallet at any time. AtomicDEX does not charge a commission from market makers and 0.13% of the total transaction value from market buyers.