Celer Network’s cBridge and Celer IM Launches Cross-Chain Bridge with BNB, BUSD, MATIC, and AVAX Tokens on ConenSys zkEVM Test Network
It is reported that the Celer Network tweeted that the cBridge and Celer inter-chain messaging technology (Celer IM) now supports the ConenSys zkEVM test netwo…
It is reported that the Celer Network tweeted that the cBridge and Celer inter-chain messaging technology (Celer IM) now supports the ConenSys zkEVM test network, and the seamless cross-chain bridge of BNB, BUSD, MATIC and AVAX tokens has been launched.
Celer cBridge and IM have supported the ConenSys zkEVM test network
Analysis based on this information:
Celer Network, a platform that provides layer-2 scaling solutions for fast blockchain transactions, has tweeted about the recent launch of its cross-chain bridge with BNB, BUSD, MATIC, and AVAX tokens, enabled by the cBridge and Celer inter-chain messaging technology (Celer IM). The launch is reportedly possible thanks to the support of the ConenSys zkEVM test network, which has established itself as a popular Ethereum Virtual Machine (EVM) compatible platform.
The cBridge and Celer IM are crucial features of Celer Network’s layer-2 scaling solutions. Celer IM’s API allows developers to integrate its technology into their decentralized applications (dApps) easily. The cBridge, on the other hand, is used to transfer tokens across multiple blockchains. This transfer is made possible through cross-chain bridges that enable seamless transactions of digital assets from one network to another.
The launch of Celer Network’s cross-chain bridge with four major tokens is a significant milestone for the platform. Binance Coin (BNB) is the native token of Binance, one of the world’s largest cryptocurrency exchanges. Binance USD (BUSD) is Binance’s stablecoin, pegged 1:1 with the US dollar. Polygon (MATIC) and Avalanche (AVAX) are layer-1 protocols that offer scalability solutions for Ethereum-compatible dApps. Consequently, this cross-chain bridge between these tokens supported by Celer IM and the cBridge could enable faster and cheaper transactions for users of these digital assets.
The inclusion of ConenSys zkEVM in the launch is also noteworthy. The ConenSys zkEVM is a zk-rollup technology that aims to improve Ethereum’s scalability by bundling several transactions into a single block. It provides fast and low-cost transactions by compressing many operations into one on-chain transaction. Hence, using this test network for the cross-chain bridge potentially enables faster and cheaper transactions for users.
In conclusion, Celer Network’s latest announcement of the launch of a cross-chain bridge between BNB, BUSD, MATIC, and AVAX tokens on ConenSys zkEVM is a significant step for the platform. It highlights the potential of cBridge and Celer IM technology for facilitating faster and cheaper transactions across multiple blockchains. The launch has been enabled by the support of ConenSys zkEVM, a popular Ethereum-compatible network that is growing in prominence for its scalability solutions.
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