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The Connext cross-chain bridging protocol has announced a new token standard to reduce losses from bridge hacks. According to a July 24 announcement, the new “xERC-20” standard allows token issuers to maintain a list of official bridges and control how many tokens can be minted by each.In addition to Connext,
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An Ethereum Improvement Proposal (EIP) made on July 7 seeks to standardize how tokens are bridged between networks. The “Sovereign Bridged Token” standard, or EIP-7281, allows token issuers to create canonical bridges across multiple networks.The proposal was co-authored by Arjun Bhuptani, founder of the Connext bridging protocol. In a July
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Connext, a platform based on the Ethereum blockchain that allows users to conduct transactions across different Ethereum-based networks, announced the launch of NXTP, a tool that allows communication between different blockchains and their offshoots, known as layer 2 systems and sidechains.The launch comes two months after Connext raised $12 million
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