Alliance of Solana Projects Collaborate to Launch Cross-Chain Messaging Platform
A coalition of prominent platforms built on Solana is working together to advance the Web3 messaging service by combining development on a new platform.
This product called "Open Chat Alliance" announced on August 23 is developed by more than 27 projects on Solana, most notably the Notifi Network messaging protocol, Bonfida, and the social media platform Only1.
Their plan is to create a transparent and interoperable standard for dealing with Cryptocurrency-based messaging could grow rapidly across the industry through the adoption of xMS open-source standards
According to the announcement, xMS is a cross-chain messaging service built to have interoperable and easily accessible with both on/off-chain capabilities.The community of “Open Chat Alliance” will receive exclusive xMS access during this first alpha phase.
In addition, The alliance says it will form a communication standard that projects on different blockchains can use and interact easily despite the technological differences between those blockchains. The Open Chat Alliance standard, for example, will make it easy for Solana users to send a message to someone on Ethereum, for example.
However, this can be a unique idea but also quite challenging when Open Chat Alliance is related to cross-chain. Because the cross-chain array in recent times has really become a "nightmare" for investors through many attacks that continuously occur with "huge" losses.
Currently, in the total number of largest hacks in 2022, there have been four cross-chain hacks including Ronin ($662 million), Wormhole ($325 million), Horizon ( $100 million) and Nomad ($176 million).
However, in order to reassure the above worries, Notifi Network CEO Paul Kim explained that the risks of cross-chain hacking were considered by the development team before launching the project and this is why. why is Open Chat Alliance's framework built specifically for messaging services only.
“There are different features as a user that you can sign up for and depending on the feature you use with different security protocols. With Open Chat Alliance, however, we haven't really interacted with any transactions other than texting."
Crypto Fox News summary
Aug 24, 2022