Plasm Network Partners with Secret Network to Launch the First Polkadot-Cosmos Cross-Chain Bridge

2021-4-15 00:01

Announced on Tuesday, the ‘bridge’ results from an ongoing partnership between Plasm Network (PLM) and Secret Network (SCRT), a Cosmos blockchain-based transaction privacy solution, which allows users to transact assets on any of the two networks. Built on Plasm testnet, the bridge will allow private transactions on Secret Network and access to decentralized finance, DeFi, provided on SecretSwap, the platform’s automated market maker (AMM).

“We’ve completed building our bridge with Secret Network,” the blog post reads. “This build will start on our testnet before deploying to mainnet down the road.”

Plasm Network users will be limited to enjoying “secret” transactions and DeFi products built on the Secret DApp hub at launch. By turning their assets to “Secret Tokens,” synthetic tokens on Secret built using ERC-20 standards and privacy features of coins such as Monero and Dash, users can enjoy encrypted transactions, “viewable only to address owners or holders of their viewing key.”

Notwithstanding, the bridge also brings DeFi to Plasm users through Secret DeFi, which allows the building of privacy-preserving DeFi apps.

The mainnet launch will follow the testnet launch once Kusama Network (KSM) is ready for launch and Plasm becomes a parachain on Polkadot. Kusama is a Polkadot parachain testnet unveiled by Polkadot’s co-founder Gavin Wood in 2019.

Speaking on the recent partnership, Plasm co-founder Sota Watanabe said,

“We have considered the light client implementation. And we are highly likely to take this approach after becoming a Kusama Parachain. The implementation we have today is an MVP [minimum viable product].”

Secret Network and Plasm partnership is the first time the Polkadot (DOT) and Cosmos (ATOM) blockchain has a direct connection. This is made possible through the Inter-Blockchain Communication protocol (IBC) on Cosmos, which allows direct communication between different blockchains.

“This is the first commercial trial that brings Cosmos assets to the Polkadot ecosystem and vice versa.”

“We would like to make the idea of ‘Cosmos vs. Polkadot' obsolete.”

The post Plasm Network Partners with Secret Network to Launch the First Polkadot-Cosmos Cross-Chain Bridge first appeared on BitcoinExchangeGuide. origin »

Bitcoin price in Telegram @btc_price_every_hour

Santiment Network Token (SAN) на Currencies.ru

$ 0.1264 (+0.00%)
Объем 24H $0
Изменеия 24h: 5.76 %, 7d: 3.92 %
Cегодня L: $0.1264 - H: $0.1264
Капитализация $0 Rank 6408
Цена в час новости $ 0.1272 (-0.63%)

network bridge plasm two cross-chain launch partners

Источник: bitcoinexchangeguide.com

network bridge → Результатов: 88


Фото:

Bancor (BNT), Polkadot (DOT) Join Forces to Build Cross-Chain Liquidity Bridge 

Bancor (BNT) has revealed that it’s making steady progress towards building a cross-chain bridge that will foster interoperability between Bancor and Polkadot (DOT). The project will make it possible for users to create pools, provide liquidity and carry out trustless cross-chain swaps between Polkadot and other ERC20 cryptoassets on the Bancor network, according to aRead More

2021-2-3 19:00


Web3 Foundation Is Funding a Project To Bring Bitcoin to Polkadot Via BTC-Parachain

The non-profit organization behind Polkadot, which is the Web3 Foundation, has decided to finance a new bridge that links the blockchain Polkadot network to Bitcoin (BTC). The London-based developer company Interlay is going to be funded by Web3 and build a BTC Parachain that brings BTC-backed assets onto the Polkadot network. The parachain will use […]

2020-3-6 21:23


LiquidApps releases customizable enterprise blockchain specific solution: LiquidChains

LiquidApps, creators of the DAPP Network, a platform that sits on top of base-layer protocols and universal middleware used across multiple blockchains, has announced the release of LiquidChains. A unique approach for enterprises and dApps looking to bridge public, permissioned, and private blockchains when deploying mission-critical blockchain applications; LiquidChains technology allows anyone to spin up […] CryptoNinjas: LiquidApps releases customizable enterprise blockchain specific solution: LiquidChains

2020-2-20 19:51


Ethereum Classic Ready to Be Tokenized on Ethereum (ETH)’s Blockchain, Become Cross-Compatible

Ethereum Classic (ETC) could soon be closer to Ethereum (ETH) once it becomes tokenized in this network. According to a recent blog post released by an Ethereum developer, they are working on a set of smart contracts deployed across two chains that will enforce consistency across these two chains. The project is called Peace Bridge […]

2019-3-6 19:46


Фото:

WBTC: Wrapped Bitcoin Project Aims To Bridge BTC And Ethereum

A gulf separates the Bitcoin (BTC) and Ethereum (ETH) networks. Although many investors hold both assets, they have so far been unable to use them together in any meaningful way. A new initiative now wants to enable traders to get as close as they can to using bitcoin on the Ether network, gaining access to […] The post WBTC: Wrapped Bitcoin Project Aims To Bridge BTC And Ethereum appeared first on Crypto Briefing.

2018-10-26 14:00


дальше еще 39 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Polkadot (DOT) and Kusama (KSM) Fall to Historic Lows, but Increase Decentralization

Despite the bearish price action, the Polkadot (DOT) network continues to grow rapidly. Today, data was published on staking improvements and the so-called Nakamoto coefficient. The latter measures the level of blockchain decentralization, which remains higher in Polkadot than in Ethereum (ETH), BNB Smart Chain (BNB), or Cardano (ADA).

TA – Polkadot Price Shows Strength, Eyes $10

The price of Polkadot (DOT) shows strength after bouncing from key support on the weekly chart against Tether (USDT). After Bitcoin (BTC) bounced from its monthly low of $19,000, this signaled a relief for other crypto altcoins including the price of Polkadot.