Nervos launched a cross-chain bridge to connect Ethereum and Cardano and other public chains to come in the future so let’s read more in our latest altcoin news today.
Nervos launched a new cross-chain bridge dubbed Force Bridge which is live on the mainnet. The network is a collection of protocols and a public blockchain ecosystem that aims to solve the plenty of challenges that are facing blockchains like ETH and BTC. The Force Bridge is now connected to Ethereum thorugh a cross-chain bridge and will be connected to Cardano and EVM as well as non-EVM public chains in the future like TRON, EOS, Polkadot, and Bitcoin.
The Force Bridge is a trustless cross-chain bridge that allows seamless transactions between the Nervos ecosystem and other public chains which also makes it a lot easier for developers to expand their dapps and user base to the Nervos ecosystem so now the bridge supports ETH and is whitelisted ERC-20 tokens including DAI, Tether, and USDC with more coins to come in the near future. The native token of the Nervos ecosystem is required to transfer these assets to Nervos via the Force Bridge.
Most cross-chain bridges require a few steps before an asset can be moved as the Force Bridge requires a simple contract deployment to start asset movement to a user or decentralized apps. When the users send assets from ETH using the Force Bridge user interface, the asset got locked into a multi-signature wallet on ETH and other tokens are minted on Nervos and sent to the users’ wallet addresses. To ensure that the safety and security of assets as they go cross-chain so the community formed the Force Bridge committee to ensure that these smart contract wallets are secure on Ethereum. Kevin Wang, the co-founder at Nervos said:
“The Force Bridge plays an integral role in our suite of multi-chain solutions, which are aimed at creating Universal Applications that transcend individual blockchains. With the recent launch of some of our other multi-chain solutions, Polyjuice and Godwoken which were tested during our recent Hackathon, and now the Force Bridge, we’re making important progress in our roadmap and moving closer to a truly interconnected blockchain ecosystem.”
Nervos announced that it would connect to Cardano with the latest project being the collaboration with IOHK. Once completed, it will be the first cross-chain bridge to Cardano and it will allow users to use the native currencies interchangeably as well as to create their own tokens. As Nervos gets closer to its vision for an interoperable blockchain system, the users from other chains can soon use the wallets and trade in the same liquidity pool on Yolkaiswap, Yield Farming, and staking platforms in the ecosystem.
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