Nervos in the present day introduced that the Drive Bridge is now reside on the mainnet. The Nervos Community is a set of protocols and public blockchain ecosystem aiming to unravel the varied challenges dealing with blockchains like Bitcoin and Ethereum in the present day.
The Drive Bridge is at present linked to Ethereum via a cross-chain bridge and will probably be linked to Cardano and different EVM and non-EVM public chains sooner or later, similar 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 person 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 property to Nervos through 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 person or decentralized app (dApp).
When customers ship property from Ethereum utilizing the Drive Bridge person 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 protection and safety of property as they transfer cross-chain, the Nervos group fashioned 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 aimed toward creating Common Purposes that transcend particular person blockchains,” mentioned Kevin Wang, co-founder at Nervos. “With the latest launch of a few of our different multi-chain options, Polyjuice and Godwoken which have been examined throughout our latest Hackathon, and now the Drive Bridge, we’re making essential progress in our roadmap and transferring nearer to a really interconnected blockchain ecosystem.”
Earlier this 12 months, Nervos introduced it might hook up with Cardano, the newest challenge in an present analysis collaboration between Nervos and IOHK. As soon as accomplished, will probably 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 the 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 challenge 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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