Tag: crosschain

REN price gains 65% after Catalog launch brings a cross-chain DEX to its blockchain

[ad_1] Decentralized finance projects like Ren pumped in 2021, only to finish the year right back where they started as high fees on Ethereum (ETH) led to decreased activity for many protocols and DeFi took a backseat to more popular sectors like nonfungible tokens (NFTs).  Now, it appears as though that downtrend is in the process of reversing course after recent global events highlighted the benefits of DeFi and holding assets outside the traditional financial system. This week REN price climbed 69% from a low of $0.247 on Feb. 24…

Read More

Wormhole hack illustrates danger of DeFi cross-chain bridges

[ad_1] Solana has become one of the fastest-growing smart contract blockchain networks since it was first officially launched in March 2020.  The total value locked (TVL) on decentralized finance (DeFi) protocols on the network grew from nearly $152 million in March 2021 to $8.08 billion at the time of writing, as per data from DefiLlama. Simultaneously, the network has also been subject to several network issues and outages. Most recently, the Wormhole token bridge was hit by a security exploit on Feb. 3 that culminated in the loss of 120,000…

Read More

Cross-chain bridge tokens moon as crypto shifts toward interoperability

sysadmin

[ad_1] Interoperability is shaping up to be one of the main themes for the cryptocurrency market in 2022 as projects across the ecosystem unveil integrations that make their networks Ethereum (ETH) Virtual Machine (EVM) compatible. While this has been one of the long-term goals of the ecosystem as a step on the path to an interconnected network of protocols, it has also created a new decentralized finance (DeFi) market for multi-chain bridges and decentralized finance. Here are three of the top volume cross-chain bridges that the cryptocurrency community uses to…

Read More

Vitalik Buterin gives thumbs down to cross-chain applications

sysadmin

[ad_1] In a Reddit post on Friday, Vitalik Buterin, the co-founder of Ethereum (ETH), outlined critical security concerns surrounding cross-chain bridges in the blockchain ecosystem. As told by Buterin, storing native assets directly-chain (Ethereum on Ethereum, Solana on Solana, etc.) provides a certain degree of immunity against 51% attacks. Even if hackers manage to censor or reverse transactions, they cannot propose blocks to take away one’s crypto. The rule also applies to the Ethereum application. For example, if hackers launch a 51% attack (by controlling 51% of all circulating ETH…

Read More

Cosmos (ATOM) rallies after launching a cross-chain bridge and wrapped Bitcoin

sysadmin

[ad_1] Momentum for the top layer-one protocols has been on the rise throughout August as the highly anticipated rollout of the London hard fork on the Ethereum (ETH) network has done little to address the network’s high transaction fees and delayed confirmations.  One of the biggest beneficiaries of the quest to find a more welcoming smart contract environment has been Cosmos (ATOM), a project focused on interoperability that has set out to become the “internet of blockchains” thanks to its Inter-Blockchain Communication (IBC) protocol. Data from Cointelegraph Markets Pro and…

Read More

How cross-chain liquidity aggregation can shape the future of DeFi

sysadmin

[ad_1] As decentralized exchanges now represent a significant amount of crypto trading volume, it is vivid that these platforms will play a big role in the smart economy of the future. Automated market makers, in particular, changed the game by eliminating the need for order books entirely and replacing them with liquidity pools. This model was a win-win for both traders executing swaps and liquidity providers incentivized to supply their tokens and earn fees from traders. Even the sporadic liquidity issues on DEXes, brought about by a sometimes fragmented marketplace,…

Read More

C.R.E.A.M. launches Iron Bank flash loans, eyes cross-chain capital efficiency

sysadmin

[ad_1] In a press release today, C.R.E.A.M. Finance announced a new feature for (and, by proxy, an unofficial relaunch of) Iron Bank, the protocol-to-protocol lending platform designed for flash and undercollateralized loans.  C.R.E.A.M., which founder Leo Cheng describes as “the yolo-est Compound fork,” is a money market designed to cover assets that are “underserved” and allow for greater capital efficiency for decentralized finance (DeFi) power users, listing assets such as Yearn vault tokens and liquidity pool tokens. “We’re adding assets that people want to have, but others may be scared…

Read More