Plasm and Secret Network launch the bridge MVP connecting Polkadot (DOT) and Cosmos (ATOM)

Plasm and Secret Network launch the bridge MVP connecting Polkadot (DOT) and Cosmos (ATOM)
фото показано с : invezz.com

2021-4-14 14:10

Cosmos (ATOM) and Polkadot (DOT) have finally connected to one another thanks to a bridge MVP created by Plasm and Secret Network — the two projects based on Polkadot and Cosmos. The two projects launched the very first iteration of a bridge that connected the two ecosystems yesterday, April 13th.

Benefits of the bridge

According to their recent announcement, the bridge was launched on Plasm’s testnet, and it now allows users to quickly transfer assets from Plasm to Secret and vice versa. Furthermore, the users can also do this privately, and even use SecretSwap, which is the first AMM exchange on Secret Network.

Access to Secret Network’s privacy layer is a great boon for Plasm users. It is based on hardware, with secret nodes and validators using the trusted execution environment (TEE) to perform operations that require privacy. Meanwhile, these operations are completely untraceable, even for the nodes themselves.

For now, the Plasm team said that they are focusing on becoming one of the first Kusama parachains. As soon as this is done, they will implement the bridge on the mainnet, and make it more and more decentralized and trustless as they go along. Eventually, Plasm hopes to become the gateway that other Polkadot projects will use to reach Cosmos.

The interoperability solution with the most potential

As mentioned, the bridge — at least its current implementation — is based on Secret Network’s SecretBridge framework. It uses multisignature custody, and it has dedicated validators that are performing conversions. Of course, this is not the only bridge out there — there are plenty of projects developing their own interoperability solutions.

However, this one offers the most prevalent architecture, meaning that it has the most potential to someday become the main model for interoperability solutions. It is a light client model, where one blockchain is capable of independently evaluating transaction proofs from another blockchain. It can then make that data available to smart contracts, and remove any need for intermediaries.

The launch marks the first time that Polkadot and Cosmos are connected, and the concept could easily be expanded to include more Cosmos blockchains.

The post Plasm and Secret Network launch the bridge MVP connecting Polkadot (DOT) and Cosmos (ATOM) appeared first on Invezz.

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cosmos bridge two polkadot connected plasm projects

Источник: invezz.com

cosmos bridge → Результатов: 11


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