Waves Founder Sasha Ivanov Unveils Units Protocol to Solve Blockchain Interoperability Crisis

Waves founder Sasha Ivanov is positioning the industry for a critical leap forward with the introduction of a new blockchain protocol, Units. Ivanov argues that without resolving the problem of blockchain interoperability, the entire ecosystem remains incomplete, and the industry cannot move ahead. With the launch of Units planned for the end of October, Ivanov believes this is the "end game for layer-2 scalability."

At the Future Blockchain Summit in Dubai, Ivanov emphasized the urgent need to eliminate reliance on centralized bridges, which currently facilitate token transfers between different blockchain layers. He expressed concern over the security risks that come with cross-chain bridges, referencing the Wormhole and Ronin bridge hacks in 2022, which resulted in nearly $1 billion in losses. Ivanov insists the solution lies in ensuring all chains are interoperable by default, creating a connected, holistic Web3 ecosystem.

Through the Units protocol, Waves aims to establish a unified economic structure across multiple layers, which will inherently support interoperability. According to Ivanov, blockchains built with Units will not require the risky centralized solutions of the past.

This shift is also essential for decentralized finance (DeFi), where liquidity is currently fragmented due to limited cross-chain compatibility. Ivanov envisions a future where a decentralized application (DApp) can leverage the Units protocol to operate seamlessly across blockchains. He also hinted at a grant initiative to encourage projects to build within the ecosystem once it is live.

Ivanov’s message is clear: interoperability is the key to unlocking blockchain’s full potential, and the Units protocol could be the solution the industry has been waiting for.