2022-3-31 17:03 |
Thea, a token bridge and innovative interoperability layer, is now available on the Polkadex testnet, Invezz learned from a press release. It will connect the Polkadex blockchain to Ethereum (ETH/USD) seamlessly and trustlessly before adding support for more blockchains.
Blending CEX and DEXIn line with Polkadex’ ethos to provide a CEX-like experience in a noncustodial DEX, Thea will be similar to deposits and withdrawals on CEXs. Existing Polkadex validators operate Thea, acting as a decentralized group of relayers rather than current centralized token bridges.
The validators are powered by multi-party ECDSA (Elliptic Curve Digital Signature Algorithm) technology. This makes Thea bridges as decentralized as the Polkadex network itself. They have no central point of attack.
Polkadex CEO Gautham J. said:
Bringing liquidity in the way users do in CEXs without compromising security of those assets is critical to the user experience of a DEX. It shouldn’t be complex or expensive. Thea is a leap in cross-chain interoperability which represents our commitment to user experience while bridging from Ethereum.
A giant step forward in user experienceApart from being a leap forward in interoperability, Thea is a massive improvement in user experience in terms of token bridges. It’s faster, easier, and cheaper than current bridges with just one transaction needed.
In the near future, Thea will power trustless, cross-chain deposits and withdrawals to and from Polkadex. This will enable ETH and ERC-20 asset holders to gain effortless access to a non-custodial orderbook exchange with support for 500k transactions per second and high frequency trading.
Currently, Thea is live on the Polkadex testnet. It will launch on the Polkadex mainnet later this year.
The post Thea token bridge launches on Polkadex appeared first on Invezz.
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