Wednesday, February 1, 2023
Crypto News
Advertisement
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos
No Result
View All Result
Crypto News
No Result
View All Result
Home Ethereum

Nervos launches cross-chain bridge to connect Ethereum and Cardano

by Crypto News
October 16, 2021
in Ethereum
0
Nervos launches cross-chain bridge to connect Ethereum and Cardano
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Bybit Welcome Bonus: Up to $600 in Rewards

Nervos in the present day introduced that the Drive Bridge is now stay on the mainnet. The Nervos Community is a group of protocols and public blockchain ecosystem aiming to unravel the varied challenges going through blockchains like Bitcoin and Ethereum in the present day.

The Drive Bridge is at present linked to Ethereum via a cross-chain bridge and might be linked to Cardano and different EVM and non-EVM public chains sooner or later, corresponding to Bitcoin, TRON, EOS, and Polkadot.

The Drive Bridge is a trustless cross-chain bridge that permits for seamless transactions between the Nervos ecosystem and different public chains, making it simpler for builders to increase their dApps and consumer base to the Nervos ecosystem.

At present, the bridge helps ETH and whitelisted ERC-20 tokens, together with Dai (DAI), Tether (USDT), and USD Coin (USDC), with extra tokens to return sooner or later. No CKB, the native token of the Nervos ecosystem, is required to switch belongings to Nervos by way of the Drive Bridge. 

How the Drive Bridge Works

Whereas most cross-chain bridges require a number of steps earlier than an asset will be moved, Drive Bridge requires solely a easy contract deployment to start asset motion to a consumer or decentralized app (dApp).

When customers ship belongings from Ethereum utilizing the Drive Bridge consumer interface (UI), the asset will get locked right into a multi-signature pockets on Ethereum. Corresponding tokens are then minted on Nervos and despatched to the corresponding customers’ pockets addresses. 

To make sure the security and safety of belongings as they transfer cross-chain, the Nervos neighborhood shaped a Drive Bridge committee to make sure that the sensible contract pockets is safe on Ethereum. 

“The Drive Bridge performs an integral position in our suite of multi-chain options, that are geared toward creating Common Purposes that transcend particular person blockchains,” stated Kevin Wang, co-founder at Nervos. “With the latest launch of a few of our different multi-chain options, Polyjuice and Godwoken which have been examined throughout our latest Hackathon, and now the Drive Bridge, we’re making necessary progress in our roadmap and transferring nearer to a very interconnected blockchain ecosystem.” 

Earlier this 12 months, Nervos introduced it might connect with Cardano, the most recent venture in an current analysis collaboration between Nervos and IOHK. As soon as accomplished, will probably be the primary cross-chain bridge to Cardano, permitting customers to make use of Nervos and Cardano’s native currencies ($CKB and $ADA, respectively) interchangeably, in addition to create their very own tokens (user-defined tokens) throughout each blockchains.

As Nervos strikes nearer in the direction of its imaginative and prescient for an interoperable blockchain ecosystem—or Interoperability 2.0—customers from different chains will quickly be capable to use their wallets to commerce in the identical liquidity pool on CKB with Yokaiswap, the primary interoperable AMM, DEX, Yield Farming, and Staking platform within the Nervos ecosystem. Moreover, the venture is creating an replace to switch $CKB to Ethereum as wrapped $CKB (wCKB).

Kevin added, “Progress on the blockchain is an iterative course of. As we proceed to make headway on the Drive Bridge and our multi-chain options, we stay up for receiving suggestions from the neighborhood.” 

Get an edge on the cryptoasset market

Entry extra crypto insights and context in each article as a paid member of CryptoSlate Edge.

On-chain evaluation

Value snapshots

Extra context

Join now for $19/month Explore all benefits

Related articles

Ethereum Lost 6.24% to $3807.82 at 5 p.m. ET — Data Talk

Ethereum Lost 3.63% to $1172.11 at 5 p.m. ET — Data Talk

November 28, 2022
Can Ethereum [ETH] maintain its stability despite the hawkish circumstances?

Can Ethereum [ETH] maintain its stability despite the hawkish circumstances?

November 28, 2022
Bybit Welcome Bonus: Up to $600 in Rewards

Like what you see? Subscribe for updates.



Source link

Share76Tweet47

Related Posts

Ethereum Lost 6.24% to $3807.82 at 5 p.m. ET — Data Talk

Ethereum Lost 3.63% to $1172.11 at 5 p.m. ET — Data Talk

by Crypto News
November 28, 2022
0

Ethereum is down $44.10 immediately or 3.63% to $1172.11 --Snaps a six day successful streak --Down 25.17% month-to-date; On...

Can Ethereum [ETH] maintain its stability despite the hawkish circumstances?

Can Ethereum [ETH] maintain its stability despite the hawkish circumstances?

by Crypto News
November 28, 2022
0

Ethereum’s burning charge was greater than minting actions, leading to a very good provide charge Staking actions had been...

These Ethereum Competitors Are Down Over 90% — Are They Worth the Risk?

These Ethereum Competitors Are Down Over 90% — Are They Worth the Risk?

by Crypto News
November 28, 2022
0

Ethereum (ETH -3.67%) could also be down 69% for the 12 months, however its rivals are getting crushed even...

Top 3 Ethereum Use Cases that will NEVER let Ethereum Die!

Top 3 Ethereum Use Cases that will NEVER let Ethereum Die!

by Crypto News
November 28, 2022
0

The crypto market has been crashing since October 2021. A yr has handed and crypto costs are nonetheless on...

Daily Brief Financials: Ethereum and more – Smartkarma

Daily Brief Financials: Ethereum and more – Smartkarma

by Crypto News
November 28, 2022
0

Daily Brief Financials: Ethereum and more  Smartkarma Source link

Load More
  • Trending
  • Comments
  • Latest
6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

6 Altcoins to Buy As Crypto Bull Market Gets Crazier: Banking Veteran

November 7, 2021
Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

Tesla To Accept Shiba Inu Coin and will hit $0.1 in 2021!!

November 1, 2021
Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

Bitcoin Mining Noise Drives Neighbors Nuts—a Giant Dentist Drill That Won’t Stop

November 12, 2021
Pro-Crypto Candidates Seek an Easier Way to Accept Bitcoin, Altcoins

Pro-Crypto Candidates Seek an Easier Way to Accept Bitcoin, Altcoins

October 22, 2021
5 Hotels Accepting Cryptocurrency as a Payment Method

5 Hotels Accepting Cryptocurrency as a Payment Method

0
Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum gain up to 5%

0
Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

Four Emerging Altcoins Soar 101% or More Within Seven Days As Crypto Markets Ignite

0
ADA Price Prediction: Cardano Sits and Waits

ADA Price Prediction: Cardano Sits and Waits

0
Ethereum live Analysis #ethereum #ethereumlive #eth  #crypto #shorts

Ethereum live Analysis #ethereum #ethereumlive #eth #crypto #shorts

February 1, 2023
How to register an ALTCOIN TRADER account – Part 1

How to register an ALTCOIN TRADER account – Part 1

February 1, 2023
CRYPTO : QUELLE STRATÉGIE SUR LES ALTCOINS ✔️ ?! OPTIMISE TES GAINS! BITCOIN POURSUIT SA HAUSSE ! 🔥

CRYPTO : QUELLE STRATÉGIE SUR LES ALTCOINS ✔️ ?! OPTIMISE TES GAINS! BITCOIN POURSUIT SA HAUSSE ! 🔥

February 1, 2023
Pierre Poilievere's Thoughts on Cryptocurrency, Bitcoin, Inflation, & Justin Trudeau

Pierre Poilievere's Thoughts on Cryptocurrency, Bitcoin, Inflation, & Justin Trudeau

February 1, 2023

Recent News

Ethereum live Analysis #ethereum #ethereumlive #eth  #crypto #shorts

Ethereum live Analysis #ethereum #ethereumlive #eth #crypto #shorts

February 1, 2023
How to register an ALTCOIN TRADER account – Part 1

How to register an ALTCOIN TRADER account – Part 1

February 1, 2023

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cardano
  • Cryptocurrency
  • Ethereum
  • Ripple
  • Videos

Bitcoin Currency Converter

Cryptocurrency Prices by Coinlib
  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Copyright Crypto News

No Result
View All Result
  • Home
  • Cryptocurrency
  • Bitcoin
  • Altcoin
  • Cardano
  • Ethereum
  • Blockchain
  • Ripple
  • Videos

© 2021 Copyright Crypto News