OCTOBER 3, 2023 – Wire Network , an emerging leader in blockchain technology, is excited to invite the public to participate in the alpha test of its decentralized MegaMask wallet. A milestone which marks the first look at a new era of crypto wallets which blend powerful social features with next level utility.
This early-access release allows users to send, receive, and buy cryptocurrency on Wire Network, Polygon, and Ethereum while introducing a host of social features, including cryptographically secure chat messaging, group chats, and personalized user profiles. To sign up for the alpha, visit https://www.megamask.io
This release puts Wire Network on the path towards building a system that allows for trustless transactions across multiple blockchains without relying on third-party bridges or oracles. This includes networks outside of the traditional EVM ecosystem and opens up a path towards truly universal interoperability.
These advancements are made possible for the first time ever by combining core benefits of the Universal Polymorphic Address Protocol (UPAP) along with Wire Name Service (WNS) and a Crypto SSO (single sign on). Combined, these three innovations provide a new layer 1 blockchain protocol that focuses on removing the complexities of user onboarding along with the vulnerabilities associated with current cross-chain solutions.
As an added benefit, transactions inside of Wire Network’s ecosystem bypass burdensome fees that characterize the Ethereum blockchain while allowing users to leverage the network’s biggest strengths. This is made possible by a smart contract powered layer of abstracted ownership (WNS) which keeps assets on their native chains while allowing users to transact against their value in the open market assuming they interact with other UPAP enabled wallets.
Cross-chain transactions have become more and more common in the world of blockchain because of the ever growing number of independent networks, each with their own strengths and weaknesses. Building a cross-chain bridge has been the traditional path for allowing people to move their assets between these different blockchains, but this solution also introduces a major security risk. In 2022 alone, $2B in digital assets were stolen due to the inherent vulnerabilities of bridging assets. Vulnerabilities which are removed from the process with Wire Network.
“We are excited to open the alpha and invite the community to engage with MegaMask’s initial functionalities and social components,” says Ken DiCross, Founder and CEO of Wire Network. “Our wallet simplifies the traditionally complex onboarding process by providing a trustless single sign-on that operates just like any other login process the user has experienced. This gives users access to the growing blockchain economy while removing all of the technical barriers. The tech just kind of fades away which we think is important to taking the next step in blockchain adoption.” continued DiCross.
As this is an Alpha release, users should be aware that this preliminary version of MegaMask may contain limitations or bugs. Wire Network highly values community feedback and sees this testing phase as an opportunity for iterative improvement leading up to the MVP.
For more information about participating in the MegaMask Alpha test, please visit: https://www.megamask.io
About MegaMask
MegaMask is created by Wire Network. It is a next generation universal wallet utilizing leading edge blockchain innovation. Learn more at www.megamask.io
About Wire Network:
Wire Network is a groundbreaking blockchain technology which leverages an Appointed Proof-of-Stake (APoS) consensus mechanism and tiered node structure to deliver robust and efficient infrastructure for decentralized applications. The platform leverages Universal Polymorphic Address Protocol (UPAP) along with Wire Name Service (WNS) to enable seamless cross-chain transactions and enable universal interoperability across modern blockchains. With a primary focus of enhancing user onboarding, Wire Network also provides a novel Crypto Single Sign-On (SSO) and a decentralized password reset system, making modern blockchains more accessible and user-friendly for non-technical users.
Learn more at wire.network.
Media contact: wirenetwork (at) transformgroup.com
