Nervos immediately introduced that the Drive Bridge is now dwell on the mainnet. The Nervos Community is a group of protocols and public blockchain ecosystem aiming to unravel the varied challenges going through blockchains like Bitcoin and Ethereum immediately.
The Drive Bridge is at present linked to Ethereum by way of a cross-chain bridge and will probably be linked to Cardano and different EVM and non-EVM public chains sooner or later, comparable to Bitcoin, TRON, EOS, and Polkadot.
The Drive Bridge is a trustless cross-chain bridge that permits for seamless transactions between the Nervos ecosystem and different public chains, making it simpler for builders to increase their dApps and consumer base to the Nervos ecosystem.
At present, the bridge helps ETH and whitelisted ERC-20 tokens, together with Dai (DAI), Tether (USDT), and USD Coin (USDC), with extra tokens to return sooner or later. No CKB, the native token of the Nervos ecosystem, is required to switch belongings to Nervos by way of the Drive Bridge.
How the Drive Bridge Works
Whereas most cross-chain bridges require a number of steps earlier than an asset might be moved, Drive Bridge requires solely a easy contract deployment to start asset motion to a consumer or decentralized app (dApp).
When customers ship belongings from Ethereum utilizing the Drive Bridge consumer interface (UI), the asset will get locked right into a multi-signature pockets on Ethereum. Corresponding tokens are then minted on Nervos and despatched to the corresponding customers’ pockets addresses.
To make sure the security and safety of belongings as they transfer cross-chain, the Nervos group shaped a Drive Bridge committee to make sure that the good contract pockets is safe on Ethereum.
“The Drive Bridge performs an integral function in our suite of multi-chain options, that are geared toward creating Common Functions that transcend particular person blockchains,” stated Kevin Wang, co-founder at Nervos. “With the current launch of a few of our different multi-chain options, Polyjuice and Godwoken which had been examined throughout our current Hackathon, and now the Drive Bridge, we’re making necessary progress in our roadmap and shifting nearer to a very interconnected blockchain ecosystem.”
Earlier this yr, Nervos introduced it could hook up with Cardano, the newest venture in an current analysis collaboration between Nervos and IOHK. As soon as accomplished, it will likely be the primary cross-chain bridge to Cardano, permitting customers to make use of Nervos and Cardano’s native currencies ($CKB and $ADA, respectively) interchangeably, in addition to create their very own tokens (user-defined tokens) throughout each blockchains.
As Nervos strikes nearer in direction of its imaginative and prescient for an interoperable blockchain ecosystem—or Interoperability 2.0—customers from different chains will quickly be capable of use their wallets to commerce in the identical liquidity pool on CKB with Yokaiswap, the primary interoperable AMM, DEX, Yield Farming, and Staking platform within the Nervos ecosystem. Moreover, the venture is creating an replace to switch $CKB to Ethereum as wrapped $CKB (wCKB).
Kevin added, “Progress on the blockchain is an iterative course of. As we proceed to make headway on the Drive Bridge and our multi-chain options, we sit up for receiving suggestions from the group.”
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