tl;dr
- World Mobile Token (WMT) selected ChainPort's Private Bridge for interoperability between the Ethereum, Conflux, Cardano, and BNB blockchains.
- WMT serves as the utility token for World Mobile's global mobile network, facilitating transactions within the network's sharing economy.
- Using ChainPort's Private Bridge, World Mobile can move tokens securely and efficiently between blockchains, adding functionality and flexibility to the ecosystem.
- WMT enables users to engage in various services within the sharing economy, including content, finance, healthcare, insurance, micro-loans, Staking, and running EarthNodes.
- With ChainPort, 95% of funds are stored in cold storage wallets with multi-sig and MPC support provided by Fireblocks and Gnosis Safe.
- The Private Bridge feature enhances security and efficiency further by utilizing shared keys with a multi-sig key system for accessing cold storage.
ChainPort Bridges WMT to Ethereum, Conflux & BNB
World Mobile Token (WMT) is leveraging ChainPort's Private Bridge to enable smooth interoperability between the Cardano, Conflux, Ethereum, and BNB blockchains.
Trading on Conflux will be available on the 11th of August at 10 AM UTC at the popular Conflux DEX, Swappi.
As the utility token powering World Mobile's global mobile network, WMT is crucial in facilitating transactions within the network's sharing economy. WMT is used for all network fees, including calls, data usage, and wallet transactions, and it is distributed to node operators and token holders.
ChainPort's Private Bridge adds another layer of functionality and flexibility to the World Mobile ecosystem. In this case, the private bridge facilitates the movement of WMT tokens from Cardano to Ethereum, Conflux, and BNB. This interoperability broadens the reach and usability of WMT, unlocking the benefits of blockchain technology on World Mobile's mobile network.
With ChainPort, 95% of all funds are stored in cold storage wallets with multi-sig and MPC support. This fund segregation technology is provided by leading industry infrastructure providers including Fireblocks and Gnosis Safe. The bridging process with ChainPort is fast, low-cost, and permissionless, allowing USDC holders to bridge their tokens within minutes.
ChainPort’s Private Bridge allows for even more secure and efficient token transfer between blockchains by sharing keys with the project. Shared keys use a 3-of-5 multi-sig key system to access the cold storage that holds ~95% of the tokens. ChainPort splits the keys with WMT’s team. Splitting keys protects funds in any extreme scenario where recovery is needed.
By utilizing Ethereum, Conflux, and BNB’s capabilities, World Mobile Token can harness the advantages offered by a robust and scalable blockchain infrastructure. Their advanced features, such as their high transaction throughput, enhance the efficiency and reliability of WMT transactions on the network. Ethereum, on the other hand, offers one of the liveliest communities in the blockchain space. These integrations empower World Mobile's sharing economy by providing popular platforms for users to engage in various services.
Incorporating blockchain technology into the mobile network introduces new transparency, accountability, and value exchange possibilities. With WMT as the native token, World Mobile positions itself at the forefront of blockchain-powered mobile networks, revolutionizing how people connect and transact.
As the network continues to grow, the seamless integration of Cardano, Ethereum, Conflux, and BNB via ChainPort's Private Bridge ensures the smooth flow of WMT transactions.
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