Cross-Chain Bridges That Connect 5 Different Blockchains to Ethereum
During the last few months, cross-chain bridge technology has grown a great deal and users can now swap assets between a myriad of networks. Today, between eight different bridges there’s $7.6 billion total-value locked across these platforms. Cross-Chain Bridges There’s a decent quantity of cross-chain blockchain bridges these days and it has allowed users to do a variety of different decentralized finance (defi) techniques. Interestingly, a great deal of bridges connect to the Ethereum (ETH) network, as they have Ethereum Virtual Machine (EVM)....
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Decentralized finance (DeFi) and cross-chain bridges have seen some of the highest growth in recent months. The crypto market has begun another recovery trend and its effects are reverberating through the entire industry. Cross-chain bridges which allow different blockchains to interact with one another, thereby allowing for trading between two blockchains, are in high demand. […]
The blockchain forensics firm said cross-chain bridges provide an "unregulated alternative" to exchanges for transferring value between blockchains. Cross-chain bridges have been the target of more than a few hacks this year, but new data from blockchain analytics provider Elliptic alleges one has been used to launder over half a billion dollars in ill-gotten crypto assets. According to an Aug. 10 report, crypto bridge RenBridge has facilitated the laundering of at least $540 million in proceeds of crime since 2020 through a process known as chain hopping — converting one form of....
30 days ago on October 28, the total value locked (TVL) in cross-chain bridges to Ethereum was around $22.48 billion and in the face of the recent market dump, the TVL still increased by 9.56%. At the time of writing, there are 135,148 unique depositors and Axie Infinity’s Ronin Bridge holds the largest TVL. Cross-Chain Bridge TVL Continues to Climb While the total value locked in decentralized finance (defi) is $258 billion, the TVL is split among a myriad of blockchains. This includes blockchain networks such as Ethereum (ETH), Binance Smart Chain (BSC), Solana (SOL), Avalanche....
ChainSwap, a cross-chain asset bridge & application hub for smart chains, launched its cross-chain bridge aggregator today. The initial version of ChainSwap Cross-chain Bridge Aggregator integrates three leading bridge solutions, namely Poly Bridge, Multichain, and AnySwap. More bridges are expected to be supported by the aggregator. ChainSwap’s final goal is to integrate all cross-chain bridges available on the market and become the go-to platform for cross-chain solution seekers. Why a Bridge Aggregator: Current Challenges Imagine that you want to transfer a token from ETH to BSC with a....
Avalanche blockchain launched its own official Ethereum bridge in 2021, but now a third-party cross-chain bridge claims to reduce transaction cost even further. Avalanche (AVAX), a Layer-1 proof-of-stake (PoS) blockchain network, gets a new cross-chain bridge from Umbria Network to help traders transfer liquidity between Ethereum mainnet and the Avalanche blockchain.Avalanche blockchain supports multiple virtual machines, including WebAssembly (WASM) and Ethereum Virtual Machine (EVM), allowing different sub-chains to incorporate a specific way of operations. Multiple virtual machine....