This Altcoin Team Didn’t Stop Despite the Hack! New Project Announced

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Probably one of the most annoying situations in the Bitcoin and altcoin world is hacking incidents. Interestingly, there is a move from an altcoin team today. Moreover, the move comes after the hacking incident. Let’s look at the details.

Altcoin project ValueRouter: A familiar proposition

The team behind Multichain, which was recently involved in a hack that resulted in a loss of over $130 million, has surprisingly announced a new project called ValueRouter. The situation is surprising considering the circumstances surrounding the latest security breach of Altcoin Multichain. Accordingly, the announcement makes the cryptocurrency community curious.

ValueRouter makes a statement on the subject on its official website. Accordingly, it provides a similar concept to its predecessor, Multichain. It offers users the ability to seamlessly trade and transfer assets across multiple blockchain networks. The basic proposition of the project is simply stated as “Exchanging any asset for any asset on multiple chains in a single transaction.”

new venture

This new initiative enables the transfer of assets across several leading blockchain networks, including altcoin Ethereum, Avalanche, Optimism and Arbitrum. On the other hand, it aims to empower users by making their exchange easier.

The official ValueRouter description elaborates further. Accordingly, the altcoin project integrates ValueRouter, Circle CCTP and DEXs. Thus, it simplifies multi-chain asset exchanges. It also enables developers to create cross-chain dApps. On the other hand, it is a unified protocol that allows users to effortlessly route assets to any major DeFi platform. Mechanically, ValueRouter runs on a multi-party computing system that resembles the architecture of a multi-signature wallet, which bears similarities to its predecessor, Multichain.

Community skepticism and concerns in the altcoin world

ValueRouter’s unexpected announcement attracts attention. On the other hand, it raises skepticism and concern in certain segments of the Bitcoin and altcoin community. Leading crypto researcher ZachXBT has some advice for the team. It calls for addressing the unresolved issue of $125 million in damages before starting a new project. On the other hand, Nick SR, who is responsible for managing the Phantom Foundation’s social media presence, also makes a statement. According to Buan, he uses the pithy expression “It’s still too early.” These reactions reflect wary sentiments among community members who carefully observed the team’s actions in the wake of the significant security breach.

When we look at Kriptokoin.com, as ValueRouter enters the cryptocurrency world, the latest hack has an impact. Accordingly, it faces the challenge of rebuilding trust and credibility. The altcoin team’s ability to address past concerns and losses will stand out. It will also likely play a pivotal role in determining the acceptance and success of this new initiative.

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