L2 protocols Connext and Nomad introduce new modular blockchain interoperability stack

2022-1-25 20:18

Connext, a level-2 interoperability protocol for Ethereum, today announced that it has formed a new partnership with Nomad, an interoperability protocol without header verification, to accelerate the adoption of trustless, fully generalized cross-chain communication.

This partnership enables the world’s first modular interoperability stack that provides users a fast, cheap, and trust-minimized way to bridge assets between chains.

Overview of Nomad

Nomad is an implementation and extension of the Optics protocol short for “OPTimistic Interchain Communication.” It is a new design for cheap, fully generalized cross-chain communication that can easily be deployed to any chain or L2 that supports user-defined computations.

As part of its protocol. Nomad utilizes an optimistic pattern. Messages that pass through Nomad have a latency of 35–60 minutes, within which fraud can be proven if message relayers are dishonest.

Particularly, Nomad is an ideal protocol for more generalized cross-chain operations that are typically performed by DAOs or other organizations, rather than end-users. For example, Nomad allows for migrating USDC from Ethereum L1 to other chains with lower trust assumptions than other bridges.

Modular Interoperability

Some of the inherent problems with building cross-chain communication systems include:

Trust-minimized: Do not involve trusted 3rd parties. Extensible: Can be quickly and easily deployed to new rollups/chains. Generalizable: Support sending arbitrary data across chains.

“Similar to the Scalability Trilemma, the Connext team proposed that it could solve this trilemma through a modular architecture where different communication protocols are layered on top of one another. Our work with Nomad is the first live example of the modular interoperability thesis in action!”
– The Connext Team

Connext + Nomad

Connext’s protocol enables trustlessly sending value and calling contracts across blockchains and L2s. However, unlike Nomad, Connext does not allow for fully generalized communication but it does have much lower latency.

Additionally, Connext doesn’t mint tokens on a destination chain — rather, it relies on liquidity minted by other bridging systems like Nomad, thus absorbing their trust/risk assumptions.

The synergies between Connext and Nomad run deep. By using madTokens (as opposed to assets created by Multichain, Celer, or other trusted systems), Connext significantly reduces the trust/risk requirements for its users on any given chain.

At the same time, Connext provides a way for Nomad users to have “fast liquidity” on a given chain, leveraging Connext’s low latency liquidity pools to allow end-users to do transfers in minutes rather than with a latency over 30 minutes.

Already Live on Moonbeam

Users bridging via the Nomad app will be dynamically routed to Connext or Nomad depending on available liquidity and the size of the user’s transfer.

Nomad is a new design for cheaper cross-chain communication without header verification

Further, Connext reports that whales and institutions will take the longer 35m Nomad bridging time, while end-users quickly trying to use Moonbeam apps will be routed via Connext. As liquidity on Connext grows, the use of Nomad can shift towards institutional capital and rebalancing Connext liquidity pools.

“The Connext ecosystem is already working on integrating Nomad into interfaces like xPollinate. We also plan to heavily advocate for and support Nomad’s growth as it rolls out to other chains and L2s. Longer term, our goal is to work closely with the Nomad team on shared offchain infrastructure and a combined onchain interface for developers. This would mean that, in a single integration, apps can leverage fast, limited Connext-style or slower, general Nomad-style communication depending a project’s context-specific needs.”
– The Connext Team

The post L2 protocols Connext and Nomad introduce new modular blockchain interoperability stack appeared first on CryptoNinjas.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Time New Bank (TNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.01 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0020147 (-100%)

interoperability protocol nomad new connext accelerate verification

interoperability protocol → Результатов: 126


Фото:

Ren Protocol to Wrap DigiByte’s DGB Coin to renDGB to Empower Ethereum and DeFi Protocols Interoperability

If the goal is blockchain interoperability and synergy, then the Republic Protocol’s work can’t go unnoticed. After launching the RenVM mainnet in late May 2020, today (July 27, 2020), the Republic Protocol (REN) shared its plans to wrap DigiByte’s native coin, DGB, to renDGB to enable interoperability with Ethereum’s ERC-20 and DeFi protocols.

2020-7-27 14:51


Фото:

Ren Protocol to Wrap DigiByte’s DGB token to renDGB to Empower Ethereum and DeFi Protocols Interoperability

If the goal is blockchain interoperability and synergy, then the Republic Protocol’s work can’t go unnoticed. After launching the RenVM mainnet in late May 2020, today (July 27, 2020), the Republic Protocol (REN) shared its plans to wrap DigiByte’s native token, DGB, to renDGB to enable interoperability with Ethereum’s ERC-20 and DeFi protocols.

2020-7-27 14:51


Real estate investment platform Realio (RST) to launch token on Algorand

Realio, a blockchain-based issuance and peer-to-peer trading platform focused on real estate private equity, today announced a partnership with Algorand, a proof-of-stake blockchain protocol. RST tokens will be made available for purchase as an Algorand Standard Asset (ASA); designed for interoperability with other supported blockchains and platform features such as RealioX.

2020-3-7 17:48


Syscoin Launches “Bridge” Feature Introducing Ethereum Interoperability

Syscoin has launched a new interoperability protocol called Syscoin Bridge, which enables ERC-20 tokens to cross back and forth between the Ethereum and Syscoin blockchains. Easing Ethereum’s Scalability Woes The Bridge protocol means that Ethereum developers can leverage Syscoin’s higher throughput and lower transaction fees for their dApps.

2020-1-29 14:55


Опубликована вторая дорожная карта проекта Libra

Libra Association опубликовала вторую дорожную карту по развитию программного обеспечения Libra Core. Roadmap #2 released. Catch up on progress against key Libra protocol priorities like addressing/interoperability, full nodes, reliability and testing, synchronization, and security.

2019-12-20 10:58


Akropolis and ChainX partner to advance cross-chain interoperability for Polkadot

Akropolis and ChainX partner to advance cross-chain interoperability for Polkadot - CryptoNinjas ChainX, an inter-chain crypto-asset financial blockchain, and Akropolis, a protocol that enables the creation of a distributed financial network, have formed a partnership which is meant to advance the asset management / Decentralized Finance vertical within the Polkadot ecosystem.

2019-6-24 14:46


Cosmos Code Review: Dammit, Time To Build

Let’s start this Cosmos code review with a look at the claims. Well, just this one really, because it’s kind of a biggie. “Cosmos solves today’s hardest blockchain problems.” Scalability — Tendermint BFT fixes this Usability — Cosmos SDK fixes this Interoperability — IBC protocol fixes this Only three items, but a lot to unpack […] The post Cosmos Code Review: Dammit, Time To Build appeared first on Crypto Briefing.

2019-6-10 17:00


Fusion chosen by Alprockz to accelerate adoption of Swiss Franc-backed stablecoin

CryptoNinjas Fusion Foundation, the non-profit open source organization building the next generation infrastructure for decentralized global finance, today announced that Switzerland-based Alprockz has selected Fusion’s protocol to accelerate the adoption of Alprockz’s Swiss franc-backed stablecoin, RKZ, and to facilitate financial system interoperability.

2019-5-7 19:31


Ferrum to use Fusion’s DCRM to accelerate adoption of its interoperability network

CryptoNinjas Fusion Foundation, the non-profit open source developer building infrastructure for decentralized finance, has announced that it has been selected by Directed Acyclic Graph-based (DAG) interoperability protocol, Ferrum Network, to serve as a technological pillar for Ferrum’s cross-chain interoperability network.

2019-4-28 15:45