The second level scaling platform, Celer Network, officially launched cBridge mainnet, a multi-chain network that enables users to more easily exchange assets between multiple blockchain networks.
With cBridge, users can instantly transfer tokens across the Ethereum, Polygon, Binance Smart Chain and Arbitrum networks without experiencing a liquidity squeeze, Celer announced on Thursday. The company says cBRidge solves many of the existing challenges that currently prevent full integration of second tier scaling solutions, including an overly complex user experience and the significant resources required to move assets through multiple chains.
Mo Dong, Celer Network Co-Founder said that his project’s mission is to democratize blockchain technology and make it more attractive to the general public:
“As an open source platform with the mission of making blockchain technology suitable for the masses, our goal with cBridge is to provide an affordable, high-performance interoperable value transfer network without compromising security or the guarantee of free trust.”
Implementing cBridge could be particularly useful for DeFi users who can leverage the technology to manage transaction costs and liquidity when moving their tokens. As Cointelegraph reported, the need to reduce DeFi-related transaction costs has drawn more developers to the Celer network. To date, Celer’s applications and middleware have attracted more than a million users, mostly in the niches for distributed finance, video games and interoperability.
Projects that enable cross-chain integration attracted attention in 2021. Much of this has to do with the polkadot ecosystem, which emphasizes interoperability and cross-chain transfers. Polkadot integration news triggered a huge increase in CELR, Celer’s native token, earlier this year.