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Woo Network (Woo) - the cryptocurrency that allows you to transact cross-chain tokens without the need for a centralized exchange.
**Website Explorer Whitepaper**
https://www.trubit.com/pro/crypto-spot-trading/WOO/USDT
Woo Network is a decentralized blockchain platform that aims to improve interoperability between different blockchains. The network uses a bridging system to connect different blockchain networks, allowing users to transfer tokens and data from one blockchain to another faster and cheaper.
Woo Network was founded by the team at Wanchain, a blockchain platform focused on interoperability and decentralized finance (DeFi). Woo Network was officially launched in April 2021 as a fork of Wanchain.
The idea behind Woo Network arose from the need for a scalable and efficient solution for interoperability between different blockchains. The Wanchain team decided to create a new network specifically dedicated to this task and focused on building a bridging system that could connect different blockchains.
The project received strong support from the crypto community and raised over $2 million in an initial funding round in January 2021. Since its launch, the network has continued to grow and gain traction in the cryptocurrency market.
In April 2021, Woo Network joined the Blockchain Interoperability Alliance (Blockchain Interoperability Alliance) initiative, along with other blockchain networks such as ICON, Aion and Wanchain. The goal of this alliance is to promote collaboration and interoperability between different blockchains and blockchain-related projects.
Woo Network is built on the Ethereum and uses a Delegated Proof of Stake (DPoS) consensus algorithm. This means that Woo token holders can vote for network validators and help make decisions about the future of the network.
One of the key features of the Woo Network is its ability to perform cross-chain token transactions without the need for a centralized exchange. In addition, the network also supports decentralized applications (dApps) that can be built on multiple blockchains.
Another interesting feature of Woo Network is its ability to provide liquidity for blockchain tokens that are connected to the network. This is achieved through a mechanism called "synthetic liquidity´´, which allows users to exchange tokens on the network without the need to have the full amount of each token in their wallet.
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