Celer cBridge – The Fast and Low-cost Value Transfer Network – Now Live on Mainnet

By July 22, 2021Binance
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SINGAPORE, SINGAPORE / ACCESSWIRE / July 22, 2021 / Celer Network, the leader in Layer-2 scaling solutions, has announced that its multi-chain network, cBridge v1.0, is now live on the mainnet. This milestone enables users to utilize cBridge to instantly transfer tokens across Ethereum, Arbitrum, Polygon (previously Matic), and Binance Smart Chain at a low cost and latency.

At its core, cBridge expands on Celer's existing State Channel technology and tackles a few of the major challenges preventing us from reaching a sustainable multi-chain and multi-layer-2 future, namely the overly complex user experience and the significant time and money investment required to move assets between multiple chains and layers. Especially for the much anticipated Ethereum layer2 rollup chains like Arbitrum and Optimism, Celer cBridge allows users to deposit into and withdraw out of those rollup chains at a fraction of the cost, within minutes instead of having to wait for several days.

Additionally, cBridge allows direct interoperability and value transfer between different layer-2 rollups and sidechains on Ethereum as well as any EVM supported chains. This enables a much more connected Ethereum layer-1 and layer-2 future that would otherwise be siloed and segregated from each other.

With many more side chain and layer-2 chain integrations coming in the near future, this interoperability solution bridges the integration gap that has long existed within the pioneer blockchains and fulfills this dire need for the nascent layer-2 chain ecosystem.

The mainnet launch of cBridge v1.0 comes with both the user facing interface and the node software.

From the user's perspective, cBridge can be used to instantly transfer tokens cross-chain and cross-layer between any two of these networks: Ethereum, Arbitrum, Polygon or Binance Smart Chain. In so doing, cBridge keeps the liquidity flow between these loosely coupled networks without long delays or a trust-based custodian.

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