Community Trust ScoreVerified
- Bridges Connecting Ecosystems
- Cross-Chain Bridging Technology
Educate. Lawmakers need to understand how crypto works so they can make smart decisions, regardless of the lawmaker’s politics. While governments are trying to understand the mechanics of one chain, we are already in a multi-chain ecosystem enhanced by cross-chain technology.
Emin Gun Sirer pointing to New Avalanche Bridge Builds on Intel SGX Technology in Breakthrough for Cross-Chain Interoperability expressed:
“Today, is an exciting day for both the Avalanche AVAX and Ethereum communities. The new Avalanche Bridge (AB) has been launched, providing the fast, secure, and cheap cross-chain interoperability that crypto communities have been waiting for.
Bridges play a crucial role in connecting ecosystems that are composable and interoperable. Developers and DeFi enthusiasts want to explore multiple chains, taking advantage of various pools, assets, and yields. However, this is only possible with a seamless user experience.
The AB is estimated to be 5x cheaper than the AEB. It launches with support for Avalanche and Ethereum, but will rapidly expand to new chains to position Avalanche as the HUB for DeFi activity across communities.
I have to make a special mention of the underlying technology that makes the AB so far ahead of other bridging technology: Intel SGX Enclave. SGX is a breakthrough in secure computing. It facilitates all operations in a closed, tamper-proof environment.
Day-by-day I see incredible innovation happening across the Avalanche Community. This bridge will unlock a vast amount of opportunities for builders who get their start on AVAX, as well as projects which have been waiting to expand to Avalanche.
The result will be a leap forward in user experience that gives new users from TradFi the confidence to seize the opportunities created by DeFi.
I’m excited to continue working with everyone across the Avalanche AVAX Community, as well as complementary networks, to usher in a new era of DeFi. Let’s continue to show the world the power of decentralized communities, developers, and applications.”
For clarity, what is cross-chain bridging technology? It will be possible for value to transfer between blockchains. It provides freedom of choice and opens up some fair competition. If one network is cheaper or faster than another, then the assets can move freely. The future is all about creating connections between different blockchains. The more cross-chain compatible an ecosystem is, the better for its adoption.
When a user transfers assets from one blockchain to another using a decentralized bridge, those assets are not literally relocated or “sent” anywhere. Instead, functionality is leveraged through a two-stage process.
