Celer launches cBridge mainnet, promising multi-chain compatibility
Layer-two scaling platform Celer Network has officially launched the mainnet version of cBridge, a multi-chain network that gives users the ability to more easily swap assets across multiple blockchains.
With cBridge, users can instantly transfer tokens across Ethereum, Polygon, Binance Smart Chain and Arbitrum networks without experiencing any liquidity bottlenecks, Celer announced Thursday. The company claims that cBRidge solves many of the existing challenges preventing the full integration of layer-two scaling solutions, including an overly complex user experience and the significant resources required to move assets across multiple chains.
Mo Dong, Celer Network’s co-founder, said the mission of his project is to democratize blockchain technology and make it more appealing to mainstream audiences:
”As an open-source platform with the mission to bring blockchain adoption to mainstream, our goal with cBridge is to deliver a high-performance and cost-efficient interoperable value transfer network with no compromise on the security or trust-free guarantee.”
The application of cBridge could become especially useful for DeFi users, who can leverage the technology to manage transfer and liquidity costs when moving their tokens. As Cointelegraph reported, the need to reduce transaction costs associated with DeFi has lured more developers to the Celer Network. So far, Celer applications and middleware have attracted more than one million users, primarily in the DeFi, gaming and interoperability niches.
Projects facilitating cross-chain integration have garnered more attention in 2021. Much of that has to do with the Polkadot ecosystem, which emphasizes interoperability and cross-chain transfers. News of Polkadot integration sparked a large rally in CELR, Celer’s native token, earlier this year.