Nervos has introduced a cross-chain bridge to connect Ethereum and Cardano and other public chains in the future. So read more today in our latest altcoin news.
Nervos has launched a new cross-chain bridge called Force Bridge that works on the mainnet. The network is made up of a number of protocols and a public blockchain ecosystem that aims to solve many of the challenges that blockchains like ETH and BTC face. Force Bridge is currently connected to Ethereum via a cross-chain bridge and will be connected to Cardano and EVM as well as future public non-EVM chains such as TRON, EOS, Polkadot and Bitcoin.
Force Bridge is a trusted cross-chain bridge that enables seamless transactions between the Nervos ecosystem and other public chains, which also helps developers expand their dapps and user bases onto the Nervos ecosystem. The whitelisted ERC-20 tokens include DAI, Tether and USDC, with more coins to follow in the near future. Native tokens of the Nervos ecosystem are required to transfer these assets to Nervos via Force Bridge.
Most cross-chain bridges require several steps before assets can be moved as Force Bridge requires a simple contract implementation to initiate the transfer of assets to users or distributed applications. When a user sends assets from ETH via the Force Bridge user interface, the assets are locked in a multi-signature wallet at ETH and other tokens are minted on Nervos and sent to the user’s wallet address. To ensure that assets are safe and secure as they make their way down the chain, the community has formed the Force Bridge Committee to ensure these smart contract wallets are secure on Ethereum. Kevin Wang, Co-Founder of Nervos, said:
“Force Bridge plays an essential role in our suite of multi-chain solutions that aim to create universal applications that go beyond individual blockchains. With the recent launch of several of our other multi-chain solutions, Polyjuice and Godwoken, tested in our last hackathon and now Force Bridge, we are making significant strides on its roadmap and approaching a truly connected blockchain ecosystem. “
Nervos announced that they will be connecting with Cardano, with their latest project being a partnership with IOHK.
When completed, it will be the first cross-chain bridge to Cardano, allowing users to use local currencies interchangeably and create their own tokens. As Nervos gets closer to his vision of an interoperable blockchain system, users of other chains will soon be able to use wallets and trade with the same pool of liquidity on the Yolkaiswap, yield farming and staking in the ecosystem.
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