Nervos is making moves to rapidly expand its DeFi ecosystem, as the network recently announced the launch of Force Bridge to Binance Smart Chain (BSC).
Following the completion of the bridge connecting the two blockchain networks, Kevin Wang, co-founder of Nervos revealed what’s next on the list for growing the interoperability of the ecosystem.
DeFi expansion
The completion of the bridge marks a big milestone in Nervos’ DeFi expansion, unlocking new possibilities given BSC’s Total Value Locked (TVL)–the biggest of any blockchain outside of Ethereum.
The bridge is enabled through a Force Bridge–allowing seamless transfer of tokens across the networks.
The #CKBxBSC bridge is live!#BSC assets can be moved to #Nervos via the Force Bridge (https://t.co/GSYQhStMFU) #Developers building on @BinanceChain will also be able to port their dApps to Nervos
More on what this means for our #DeFi ecosystem
— Nervos (@NervosNetwork) January 13, 2022
With the completion of the cross-chain bridge, dapps such as YokaiSwap, the first decentralized exchange (DEX) built on Nervos, will gain access to liquidity through the BSC ecosystem.
It also means devs building on BSC can port their dapps to Nervos and gain access to projects, tools, and resources available in a “burgeoning network focused on DeFi development.”
Cross-chain bridge between Nervos and Cardano
“The bridge to Binance Smart Chain is an exciting development as we build out our DeFi ecosystem, but it’s only one of many bridges to come,” Kevin Wang, co-founder of Nervos told CryptoSlate.
“We’ve been working closely with IOHK, the developers of Cardano, on UTXO research and a cross-chain bridge between our networks is in development. The bridge, currently in testnet, will enable users to use $CKB and $ADA interchangeably, as well as create their own tokens across both blockchains. We’re planning to deploy the Nervos x Cardano bridge in the near future,” he revealed.
Cross-chain bridges, powered by Nervos’ trustless ForceBridge, play an important role in the network’s multi-chain strategy.
“We want to bridge to all of the top ecosystems and enable blockchain interoperability,” Said Wang, adding that he doesn’t believe blockchain is a “winner take all” space.
“We can work together for the betterment of the technology and the future of the industry. Our bridge with Cardano is just one example of that ethos put into action,” he concluded.
The post Nervos ecosystem is expanding: Force Bridge to BSC is live, cross-chain bridge to Cardano is coming appeared first on CryptoSlate.
Check live crypto rates here
Start trading today – See our list of exchanges
It?¦s actually a cool and helpful piece of information. I am glad that you shared this helpful information with us. Please keep us up to date like this. Thank you for sharing.
Good day! I know this is kind of off topic but I was wondering if you knew where I could locate a captcha plugin for my comment form? I’m using the same blog platform as yours and I’m having difficulty finding one? Thanks a lot!
I consider something genuinely interesting about your web site so I saved to bookmarks.
buy phenergan nz
Simply wanna comment on few general things, The website layout is perfect, the content material is real great. “Some for renown, on scraps of learning dote, And think they grow immortal as they quote.” by Edward Young.
I’d have to examine with you here. Which is not one thing I usually do! I take pleasure in reading a post that may make folks think. Additionally, thanks for permitting me to comment!
Some genuinely good content on this internet site, thanks for contribution.
I have recently started a web site, the information you provide on this web site has helped me tremendously. Thank you for all of your time & work.
Way cool, some valid points! I appreciate you making this article available, the rest of the site is also high quality. Have a fun.
Great post. I was checking continuously this blog and I’m impressed! Extremely helpful information particularly the last part 🙂 I care for such information much. I was looking for this certain info for a very long time. Thank you and best of luck.