Flare Networks Proposes Eccentric Bridge Solution for All Blockchains: Details
u.as we speak
07 Could 2022 16:33, UTC
Studying time: ~2 m
As soon as launched, the brand new system will introduce a general-purpose interoperability ecosystem for all blockchains with good contracts. It should additionally advance the safety and resource-efficiency of cross-blockchain bridges.
Here is how Flare’s Layercake can bridge 100 blockchains with 101 good contracts
In line with the official announcement shared by the Flare Networks crew, its engineers proposed LayerCake, a blockchain-agnostic interoperability answer that may change the sport within the cross-network bridge sphere.
Why Web3 wants LayerCake🍰:
1️⃣Bridge between any + all good contract chains
2️⃣Quick, decentralized, fully-insured bridges
3️⃣Zero collateral required from person; network-provided
4️⃣101 good contracts (not 5,000 bridges) to attach 100 chains
Full section: https://t.co/OddbKvHQ8r pic.twitter.com/4v6JmiwBSN
— Flare ☀️ (@FlareNetworks) Could 6, 2022
Flare Networks CEO Hugo Philion created an academic video to cowl the design of the upcoming system and the alternatives it unlocks for DeFi and Web3 as an entire.
LayerCase will bridge blockchains with an ecosystem of bandwidth suppliers. “Wrapped” asets will initially be minted on Flare (FLR) blockchain itself after which broadcasted to “goal” networks.
These bridges won’t maintain customers’ cash whereas each deposit to them shall be totally “insured” as bandwidth suppliers shall be required to stake liquidity within the quantity that matches the utmost capability of their chains.
As such, LayerCake infrastructure would permit seamless worth switch between all types of heterogeneous networks: Solana (SOL), Ethereum (ETH), Cardano (ADA) and so forth.
Why will it’s higher than all present options?
First, as defined by Mr. Philion, this design would permit bridging techniques to be decentralized and quick on the similar time. Sometimes, decentralized techniques work far slower than their custodial analogs.
For the primary time within the historical past of Web3 bridging ecosystems, the blockchains shall be interconnected by 100% insured techniques: this may eradicate the potential for hacks and assaults.
Final however not least, with this idea, the bridging ecosystems shall be scaled linearly, not quadratically (blockchain-to-blockchain) to keep away from scalability and interoperability bottlenecks.