Nervos launches cross-chain bridge to attach Ethereum and Cardano

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Nervos at present introduced that the Drive Bridge is now reside on the mainnet. The Nervos Community is a set of protocols and public blockchain ecosystem aiming to resolve the varied challenges dealing with blockchains like Bitcoin and Ethereum at present.The Drive Bridge is at present related to Ethereum via a cross-chain bridge and will probably be related to Cardano and different EVM and non-EVM public chains sooner or later, comparable to Bitcoin, TRON, EOS, and Polkadot.The Drive Bridge is a trustless cross-chain bridge that enables 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 come back sooner or later. No CKB, the native token of the Nervos ecosystem, is required to switch belongings to Nervos through the Drive Bridge. How the Drive Bridge WorksWhile most cross-chain bridges require a number of steps earlier than an asset could 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 protection and safety of belongings as they transfer cross-chain, the Nervos group fashioned a Drive Bridge committee to make sure that the good 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 Functions that transcend particular person blockchains,” mentioned 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 shifting nearer to a really interconnected blockchain ecosystem.” Earlier this yr, Nervos introduced it will connect with Cardano, the most recent undertaking in an current analysis collaboration between Nervos and IOHK. As soon as accomplished, it will likely 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 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 undertaking 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 group.” Get an edge on the cryptoasset marketAccess extra crypto insights and context in each article as a paid member of CryptoSlate Edge. On-chain evaluation Value snapshots Extra context Be part of now for $19/month Discover all advantages Like what you see? Subscribe for updates.