Unilayer is a layer 1 blockchain that aims to provide cross-chain operability for DeFi (i.e., liquidity flow across chains) and NFTs. This is a need in the blockchain industry as it grows into many separate chains and people want to move assets between them. Other bridge technologies have seen a lot of hacks in the past, which makes it even more important to have a truly decentralized and secure bridging solution.
Unilayer claims to be a blockchain that will validate transactions from the source chain to the destination chain on Unilayer (using delegated proof of stake). Essentially, it will sit in the middle and record all transactions between chains. This technology will open up new possibilities for new kinds of Dapps.
Unilayer is a serious project with a good team. It has raised around $10 million from private rounds. The whitepaper is well-put-together and contains a lot of details. The project stacks up well against its existing competitors.
Some drawbacks- The team and investors will control a majority of the token supply (29% and 30%, respectively). New projects in the interoperability space, such as Entangle, could pose serious competition. Show Less
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