The release of cBridge Version 1.0 includes a user interface as well as node software.
It has been announced that the mainnet version of cBridge, a multi-chain network that allows users to more easily transfer assets across several blockchains, has been formally released by layer-two scaling platform Celer Network.
Celer announced Thursday that its cBridge service allows users can instantaneously transfer tokens across the Ethereum, Polygon, Binance Smart Chain, and Arbitrum networks without encountering any liquidity constraints.
It is claimed by the business that cBRidge resolves many of the existing obstacles that have prevented the complete integration of layer-two scaling solutions, such as an overly complex user experience and the large resources necessary to move assets across numerous chain systems.
Celer Network’s co-founder, Mo Dong, stated that the project’s objective is to democratise blockchain technology and make it more appealing to a broader range of people:
”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 deployment of cBridge may prove particularly beneficial for DeFi customers, who may be able to use the technology to manage transfer and liquidity expenses when moving their tokens from one exchange to another.
Several developers have joined the Celer Network as a result of the desire to lower transaction fees related with DeFi, as reported by Cointelegraph. Celer apps and middleware have attracted more than one million users to date, with the majority of them concentrated in the DeFi, gaming, and interoperability markets.
In 2021, projects that facilitate cross-chain integration are expected to receive increasing attention. A large part of this can be attributed to the Polkadot ecosystem, which places an emphasis on interoperability and cross-chain transfers. The announcement of Polkadot integration resulted in a significant increase in the value of CELR, Celer’s native token, earlier this year.