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“We did an extensive deep dive on available wallets, comparing things like onboarding time, network compatibility, etc. Rainbow came out ahead for our use case,” said Darrell Jones, CEO and co-founder of City3, a Oakland-based community currency nonprofit backed by Coinbase Giving and the Ethereum Foundation. Jones added that City3
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On a few occasions last year, crypto advocates discussed how a number of price models, leveraged to help predict the future value of bitcoin, ended up failing. However, since bitcoin’s value has increased by 36% over the last month, the price has entered the darkest band of the rainbow chart
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This was possible because of how the Rainbow bridge works. As a wholly decentralized platform, Rainbow relies on several validators, called bridge relayers, who submit block info on Near blocks to Ethereum. Anyone can submit information to Rainbow, and false information could likely result in a loss of all user
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