In a bid to break down barricades within blockchain communities, cross-chain bridge deBridge is launching a groundbreaking feature that expedites interoperability between Solana and other blockchain platforms. The brainchild of Alex Smirnov, CEO and co-founder of deBridge, this feature marks a historical moment as Solana users will be able to integrate with Ethereum Virtual Machine (EVM)-based blockchains, such as Arbitrum, negating the need for security risk-laden derivative tokens or wrapped tokens.
Previously, Wormhole was the primary solution for seamless interoperability within the Solana ecosystem. Still, its applicability was often marred by liquidity constraints in Wormhole pools and high slippage during the switch of the wrapped assets. As a result, developers ended up dealing with non-liquid Wormhole assets. With the advent of deBridge’s new feature, these conundrums will become a thing of the past.
deBridge’s approach sets up EVM smart contracts to curate on-chain instructions, directly executable on Solana. Similarly, Solana programs can prepare messages for any smart contract on EVM chains. Far from being a pipe dream, this technology is made viable thanks to the company’s partnership with DLN Trade. Deemed a cross-chain exchange unicorn, DLN Trade’s decentralized order book enables direct trade from any asset on one chain to another, alleviating the hassle and risk associated with liquidity pools.
For the uninitiated, liquidity pools are baskets of tokens locked on decentralized exchanges to facilitate trading for tokens in the open market. However, DLN Trade harnesses peer-to-peer liquidity for conducting trades, eschewing reliance on a liquidity pool. The method eliminates the customary bottlenecks encountered in liquidity pools, staking the claim for deBridge’s solution in delivering a more streamlined and efficient cross-chain experience.
The potentiality belied in deBridge’s feature is immense; it facilitates Solana users’ interaction with applications on other blockchains and vice versa. The bridge it builds between different blockchain communities, once hindered by the intricacies of interoperability, is a testament to the strides made in cross-chain technologies.
However, the execution of such a massive undertaking will necessitate careful maneuvering in uncharted territories. The success of this feature will unquestionably rest on the ability to stave off security risks, with the potential to turn the very essence of cross-chain interoperability on its head. The promised land of a seamless blockchain milieu is tantalizingly close, and the crypto world will be watching keenly.
Source: Coindesk
