The digital asset space is incredibly innovative, constantly finding new use cases and growing wildly in popularity over the last few years.
However, some kinks still need to be ironed out to promote a more accessible space that tends to newcomers and ensures the masses adopt it.
There are currently at least 1,000 blockchains, and while that is impressive, the ability to connect from one blockchain to another is sorely missing from plenty of blockchains.
Connecting blockchains is essential as trading one digital asset for another takes considerable fees and many cumbersome hoops to jump through. In short, interoperability is one of the most significant factors in pushing digital assets and blockchains from tech enthusiasts to everyday users.
One way that helps solve this issue is what is known as a blockchain, crypto, or digital asset bridge. These digital asset bridges, also known as cross-chain bridges, connect two blockchains. The linking of two blockchains allows users to send digital assets from one chain to the other quickly and easily.
Zignaly, a pioneer in social investment and advocate for blockchain composability, has recently announced its development on the “The Bridge.” The project claims it to be “nothing less than the world’s greatest crypto bridge.”
Users who frequently interact with bridges are aware of their shortcomings. Most suffer from significant security issues, a slew of bugs that put assets at risk, and other stability problems. Through a combination of help from digital asset users and industry peers and its extensive experience using bridges, Zignaly plans to build the ultimate solution in The Bridge.
The Bridge will be powered by ZIG, Zignaly’s native token. This ambitious project aims to create a cross-chain bridge that makes trading and transferring digital assets from one chain to another as simple as possible. Not only will this apply to holders of ZIG, but the entire digital asset space.
Initially, The Bridge started as an ERC20-to-BSC bridge for the ZIG coin. However, as time went on, it developed into something much more, supporting four chains; ERC20, BSC, MATIC, and SOL chain. This comprehensive support ensures that through Zignaly’s new cross-chain bridge, numerous projects will be able to create a version of their token on different blockchains, adding liquidity to The Bridge.
With expanded composability, and robust security and reliability, this accessible bridge will provide users with a feeling of safety and trust while also implementing much-needed flexibility into the digital asset ecosystem. This will all be wrapped up in a simplified user interface.
The Bridge roadmap has three core phases:
- Testing – The first phase will allow ZIG holders to access the bridge. Those who participate in testis will be awarded APRs on leading farming platforms and DEXes.
- Adoption – The second phase will onboard ZIGPad partners to The Bridge and provide access to ZIGPAD launch partners, helping them build up their community and reduce research and development costs.
- Full Composability – Finally, Zignaly will open The Bridge to all projects across the industry. With the bandwidth Zignaly holds, chains will be added rapidly.
Zignaly’s chain-agnostic approach to the Bridge is the core focus of its strategy. The platform is committed to designing The Bridge to be compatible even with blockchains of the future.
Source: Bitcoinist News