Celer launches cBridge mainnet, promising multi-chain compatibility
July 22, 2021. Summarized by summa-bot.
Compression ratio: 54.7%. 1 min read.
Projects facilitating cross-chain integration have grown in prominence in 2021. Celer Network is among them.
Layer-two scaling platform Celer Network has officially launched the mainnet version of cBridge, a multi-chain network that gives users the ability to more easily swap assets across multiple blockchains.
With cBridge, users can instantly transfer tokens across Ethereum, Polygon, Binance Smart Chain and Arbitrum networks without experiencing any liquidity bottlenecks, Celer announced Thursday.
The company claims that cBRidge solves many of the existing challenges preventing the full integration of layer-two scaling solutions, including an overly complex user experience and the significant resources required to move assets across multiple chains.
”As an open-source platform with the mission to bring blockchain adoption to mainstream, our goal with cBridge is to deliver a high-performance and cost-efficient interoperable value transfer network with no compromise on the security or trust-free guarantee. ”
The application of cBridge could become especially useful for DeFi users, who can leverage the technology to manage transfer and liquidity costs when moving their tokens.