In an interview with InvestmentPitch Media, Tarik Lewis, the founder of Volume Finance, discussed the company’s focus on cross-chain communication and its current focus on Paloma, a fast and secure decentralized blockchain that aims to talk to every blockchain. Lewis noted the need for more solutions that work at speed, as the current problem with cross-chain compatibility is primarily people using bridges through smart contracts on Ethereum, which has led to hundreds of millions of dollars being siphoned out of contracts. Volume aims to extend the security model of its previous work in the Cosmos ecosystem to secure transactions moving across chains and bridges.
—
Introducing Tarik Lewis, Founder of Volume Finance
Introduction
On the Crypto Coin Show, Ashton Addison from Block West Capital for InvestmentPitch Media welcomed Tarik Lewis, the Founder of Volume Finance. They discussed the future of blockchain and how Volume Finance is contributing to the space.
The Volume Finance Vision
Volume Finance Vision
As a one-year-old startup company in the crypto ecosystem, Volume Finance’s team of engineers, UI/UX designers, marketers, and community managers are focused on bringing blockchain technology to the next phase. They aim to unleash new financial technology that has not yet been fully explored in the blockchain space and make it available at scale.
The Importance of Interoperability
The Importance of Interoperability
In the current state of the industry, there is a huge transition point as many amazing chains are popping up. The future of interoperability and the ability to move assets and apps between chains seamlessly is coming to fruition. Volume Finance and Paloma Chain are working on helping that transition to make a seamless experience so more people can get involved in blockchain and enjoy it.
Volume Finance’s Focus on Cross-Chain Communications
Focus on Cross-Chain Communications
Volume Finance’s current focus on scalable and secure cross-chain communications is one of the hottest areas in the industry. They are excited to be surrounded by great startups and companies who are focused on this area, and they are deepening their focus on tools and building into blockchain to blockchain networking. The main project they are focused on currently is Paloma, which is a fast and secure decentralized blockchain that talks to other decentralized blockchains.
Unique Approaches to Cross-Chain Communication
Unique Approaches to Cross-Chain Communication
When it comes to solving the cross-chain compatibility problem, Volume Finance is unique in that they are extending the security model of having the validators who are securing the chain to ensure that transactions that are moving across chain and across bridges are actually valid transactions. Not only that, but Validators also review the code that is being used to control the bridge communication.
Paloma: A Big Part of the Future Plan
Paloma: A Big Part of the Future Plan
While Paloma is one of the many projects that Volume Finance is working on, it is their main focus at this time. They are excited to bring it to life because they believe it will unleash a number of developer-friendly tools and different developer-friendly access to this type of cross-chain communication. The goal is for Paloma to talk to every blockchain, and the validator sets of Paloma to be motivated to really communicate or enable communication across any public blockchain.
Automated Smart Contracts on Paloma
Automated Smart Contracts on Paloma
Paloma offers automated smart contracts which can work on multiple chains. This means that users can seamlessly utilize their assets across different chains without having to worry about how to make it work. Such a feature requires coordination and constant monitoring, which Volume Finance takes care of to make sure that the process works seamlessly.
In conclusion, Volume Finance’s interconnected and integrated approach towards blockchain can make cross-chain communication easier, faster, and much more secure. Their vision for moving to the next phase of blockchain technology is an audacious one, and it will be interesting to see how their plan unfolds in the coming years.
