{"id":10827,"date":"2021-09-23T17:12:38","date_gmt":"2021-09-23T16:12:38","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=10827"},"modified":"2021-09-23T17:12:46","modified_gmt":"2021-09-23T16:12:46","slug":"bitfinex-debuts-the-first-l2-bridge-from-cefi-to-defi","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitfinex-debuts-the-first-l2-bridge-from-cefi-to-defi\/","title":{"rendered":"Bitfinex debuts the first L2 bridge from CeFi to DeFi"},"content":{"rendered":"\n
It will be possible to conduct ERC-20 token <\/a>transactions between centralized and decentralized exchanges using the bridge launched by Bitfinex.<\/h5>\n\n\n\n
\"Bitfinex<\/figure>\n\n\n\n

Investing in cryptocurrencies With the launch of its market-debut service, Bitfinex\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> will be able to connect its centralized platform to the layer-2 decentralized trading platform and subsidiary DeversiFi.<\/p>\n\n\n\n

When used in conjunction with the permissionless and privacy-centric experiences of DeFi<\/a>, the bridge will allow users access to the highly-liquid and accessible capabilities of CeFi. <\/p>\n\n\n\n

Transactions will initially be restricted to Tether (USDT), a stablecoin linked with the exchange, according to a press release from the business, but it is possible that the exchange may soon open its doors to other ERC-20 tokens as well.<\/p>\n\n\n\n

Ethereum<\/a>-based With the help of scalable technology from StarkWare, DeversiFi has created a trading platform for the cryptocurrency market. They built the first layer-2 bridge between Ethereum and the Polygon Network two months ago, with the goal of diverting users' attention away from the high gas prices that are often seen on-block.<\/p>\n\n\n\n

A significant increase in the number of layer-two platforms, such as Arbitrum <\/a>and Optimism<\/a>, has been observed during 2021, contributing to the widespread use of decentralized finance protocols.<\/p>\n\n\n\n

CEO and Co-Founder Will Harborne of DeversiFi shared the following statement:<\/p>\n\n\n\n

\u201cLayer-2 is the future of blockchain. Whether it's the Lightning Network for Bitcoin <\/a>or roll-ups such as DeversiFi for Ethereum, cryptocurrencies and DeFi are finally on the verge of becoming accessible to everyone.\u00a0<\/p><\/blockquote>\n\n\n\n

Paolo Ardoino, the Chief Technology Officer of Bitfinex, also stated his thoughts for future adoption following the launch:<\/p>\n\n\n\n

“I feel confident that there will be a ready uptake of this low-cost transfer mechanism among our customer base as interest in DeFi continues to grow.”<\/p>\n","protected":false},"excerpt":{"rendered":"

It will be possible to conduct ERC-20 token transactions between centralized and decentralized exchanges using the bridge launched by Bitfinex. Investing in cryptocurrencies With the launch of its market-debut service, Bitfinex will be able to connect its centralized platform to the layer-2 decentralized trading platform and subsidiary DeversiFi. When used in conjunction with the permissionless […]<\/p>\n","protected":false},"author":13,"featured_media":10829,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[729,4606,197],"class_list":["post-10827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitfinex","tag-cefi","tag-defi"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/image-240.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=10827"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10827\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/10829"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=10827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=10827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=10827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}