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Bridge standards are sets of rules that define how different blockchain networks can communicate with each other, in this case, through a cross-chain bridge. While some of these protocols, by themselves, are at risk of exploitation, when put together they add much-needed additional layers of security. Source
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As the NFT landscape continues to evolve, the integration of Ethereum and Bitcoin ecosystems through the BRC-721E standard paves the way for further innovation and expansion that can even attract more mainstream innovators into the Web 3.0 world. The recent introduction of Bitcoin (BTC) Ordinals and the unveiling of the BRC-721E
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Bitcoin Ordinals are the latest layer-2 solution enabling decentralized storage of digital art on the Bitcoin blockchain. Ordinals will now allow users to migrate their Ethereum ERC-721-based nonfungible tokens (NFTs) to the Bitcoin blockchain with the launch of the BRC-721E standard.The BRC-721E standard was jointly launched by the Ordinals market
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Like most bridges, Multichain uses a mint-and-lock mechanism to move assets between the 92 blockchains it interacts with. For example, if a holder of USDC stablecoin bridges the asset from Ethereum to Fantom via Multichain, the token gets locked up in a smart contract on Ethereum and then issued anew
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Zilliqa, a high-performance, proof-of-stake blockchain using a unique sharding mechanism, is now compatible with Ethereum. Zilliqa is EVM compatible In an update on May 19, Zilliqa said they have integrated the Ethereum Virtual Machine (EVM) on the mainnet, making the
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On May 18, 2023, the web3 technology firm OKX, the second-largest cryptocurrency platform in terms of trading volume, issued a statement, a development for the cryptocurrency community. OKX Wallet, a self-custodial and decentralized wallet solution driven by
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Using bitcoin on other networks previously required users to rely on centralized bridges, which increased risks for token holders. Source
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Volume on the Stargate cross-chain bridge has surged by 30% in the past 24-hours as investors attempt to meet the criteria for a rumored LayerZero airdrop. Source
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LI.FI and InsurAce’s offering is nowhere near that level yet. At press time, the tool said it covered around 130 transactions, some $15,000 in value across eight different chains. The starting amount for the bridge cover fund currently stands at $200,000. “As a brand new product, we’re starting small and
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