Multichain was born as Anyswap on the 20th July 2020 to service the clear needs of different and diverse blockchains to communicate with each other. Each blockchain has its own unique services that it provides, its own community and its own development ecosystem. For our industry to reach the next level for consumers, we need a fast, secure, inexpensive and reliable way to exchange value, data and exercise control between the chains.
The solutions developed by Multichain allow almost all blockchains to inter-operate. There is no restriction to Ethereum like chains (e.g. Binance Smart Chain), or different Layer 2 chains requiring finality to Ethereum (e.g. Polygon), or a network of Parachains (e.g. Moonbeam in the PolkaDot system), or Bitcoin types of chain (e.g. Litecoin), or COSMOS chains (e.g. Terra). These are either now all integrated, or on course for integration. With support for all ECDSA and EdDSA encrypted chains, Multichain is almost universally applicable as an interoperable layer.
Multichain is now the leader in the cross-chain field, with a rapidly expanding family of chains (currently 26) and daily volumes well in excess of $100 million. Its sustained daily volume of more than $100 million, its Total Value Locked in excess of $5 billion and its thousands of daily users are testament to its popularity and security.
We take pride that we are an open source protocol. Indeed to be properly described as decentralized as we are, it is essential to be open source, since otherwise how would anyone know that this was the case? We also have a strong belief in the principle of trustlessness. Anyone can use our crosschain services. They are controlled by code and there are no Externally Owned Addresses acting as a weak link.