DeFi Mass Adoption Gets A Boost From LiquidApps – Ethereum Bridge Breakthrough
The DeFi movement has been getting more and more popularity this year, despite the global crisis and it just received another boost.
This time, the push comes from LiquidApps – an R&D company that’s focused on optimizing the development of decentralized apps.
The company was founded back in 2019 and it’s main focus revolves around boosting decentralized development.
DeFi exploded this year and the sector reached multi-billion dollars with new use cases pouring like there’s no tomorrow.
It’s important to mention the fact that second-layer solutions are vital for reaching the scale that cannot be hit with only base layer blockchains.
This is why cross-chain tech opens the door to a whole new perspective and new functionalities that mix the power of more blockchains together, driving massive opportunities.
LiquidApps boosts DeFi Mass Adoption
It’s been just revealed that the DAPP Network community has been able to successfully deploy a cross-chain communication channel. This allows both tokens and data to flow across blockchains, but the very first implementation involves Ethereum and EOSIO-based chains.
It’s important to note that the Ethereum bridge allows projects that are on other chains to plug into ETH-s liquidity and financial services ecosystem, according to the official press release.
ETH devs can also use the bridge with the goal of harnessing the DAPP Network’s Universal layer-two in order to scale dApps. More functionalities can be leveraged on layer-two and these include “reduced gas costs, customizable sharding, and innovative oracle, which are all offered on a free market basis.”
Cross-chain bridge uses a mix of DAPP Network services
The cross-chain bridge is using opportunities for accessing trustworthy external data, but also a cross-chain data transfer service that allows the flow of tokens and data between various chains. dApp devs will get the ability to connect actions, assets, and applications across the DeFi ecosystem.
“We were excited to see our vision come to fruition with the successful flow of tokens from Ethereum to EOSIO and back, and the role the DAPP Network community played in facilitating its success,” says LiquidApps CEO, Beni Hakak.
He continued and explained that this move would take them close to breaking the walls between chains, and it will give freedom to developers to boost the ecosystem.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.