Why 2021 Will Be the Year of Cross-Chain?
2020 was the year in which DeFi took the blockchain world by storm. While the rest of the planet will most likely remember 2020 as the year of COVID-19 and lockdown, crypto enthusiasts will also remember it as the year of crypto lending, borrowing, liquidity mining, and the much-reported upon Total Volume Locked (TVL) graph. That was not without good reason, however, as in 2020 the TVL in DeFi protocols grew from $675M to $16.2B. […]
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On Monday, the cross-chain token bridge Nomad was attacked and hackers managed to siphon $190 million from the protocol, draining a great majority of the funds. The Nomad cross-chain bridge attack was the third-biggest crypto heist of 2022, and the ninth largest of all time.
Nomad Cross-Chain Bridge Exploited for $190 Million
Cross-chain bridges in the world of decentralized finance (defi) just can’t catch a break no matter how long they have been running and even after the bridges have been audited. On August 1, 2022, the cross-chain bridge Nomad suffered an attack that....
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)....
Although cross-chain bridges have proven useful so far, the time has come to look beyond these semi-archaic solutions. When suer funds are at stake, it is safe to say the approach may not be ideal. Portal puts an end to wrapped tokens and third-party custody through its multi-chain atomic swap-based approach. Cross-chain Bridges Fail To […]
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....
With so many blockchains on the market today, the demand for cross-chain operability grows ever louder. While there are some projects in development, Wanchain stands out among the pack. Having just integrated Litecoin into its cross-chain ecosystem, Wanchain’s interoperability solution is miles ahead of competing ecosystems. Blockchain Needs Cross-Chain Support No matter how one wants […]