Coinbase-backed Router Protocol launches its own Layer 1 blockchain

Quick Take

  • Router Protocol has launched Router Chain — a Layer 1 network focused on multi-chain dapps.
  • The network uses a proof-of-stake consensus mechanism based on the Tendermint framework.

Interoperability project Router Protocol has launched a Layer 1 network designed for the development of decentralized applications that function across multiple blockchains.

Known as the Router Chain, the network aims to aggregate liquidity and facilitate cross-chain interactions through what’s known as the Cross-Chain Intent Framework.

The Layer 1 is based on proof-of-stake consensus using the Tendermint framework. Furthermore, it utilizes the native Router token for security, transaction fees and governance.

“The introduction of Router Chain highlights Router Protocol’s dedication to transforming the fragmented blockchain landscape into a chain-abstracted ecosystem,” said Ramani Ramachandran, Founder and CEO of Router Protocol.

Besides the new Layer 1 chain, Router is known for operating a bridge protocol within a competitive niche that includes players like Wormhole, LayerZero, Axelar, Across and Synapse.

In 2021, Router raised $4.1 million in a funding round backed by Coinbase Ventures, Polygon, DeFi Capital, Wintermute, and others.


Disclaimer: Evgeny Gaevoy, the founder and CEO of Wintermute, previously sat on The Block’s board of directors from April 2023 to early November 2023 and remains a minority shareholder.

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© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Vishal Chawla is The Block’s Crypto Ecosystems Editor and has spent over seven years covering tech protocols, cybersecurity, artificial intelligence and cloud computing. Vishal can be reached on Twitter at @vishal4c and via email at [email protected]

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