Celer launches cBridge Mainnet, promises multi-chain compatibility

Layer 2 scaling platform Celer Network has officially launched the mainnet version of cBridge, a multi-chain network that enables users to more easily exchange assets across multiple blockchains.

With cBridge, users can instantly transfer tokens across the Ethereum, Polygon, Binance Smart Chain and Arbitrum networks without experiencing liquidity bottlenecks, Celer announced on Thursday. The company claims that cBRidge addresses many of the existing challenges that prevent full integration of Layer 2 scaling solutions, including overly complex user experiences and the significant resources required to migrate assets across multiple chains.

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Mo Dong, co-founder of Celer Network, said the mission of his project is to democratize blockchain technology and make it more attractive to key audiences:

“As an open source platform with the mission to bring blockchain acceptance into the mainstream, our goal with cBridge is to provide a high-performance and cost-effective interoperable value transfer network that works without compromising security or trustworthiness.”

CBridge’s app could prove particularly useful for DeFi users who can leverage the technology to manage transfer costs and liquidity when moving their tokens. As Cointelegraph reported, the need to reduce DeFi-related transaction costs has attracted more developers to the Celer network. To date, Celer applications and middleware have attracted more than a million users, mostly in the DeFi, gaming, and interoperability areas.

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Projects that support cross-chain integration received more attention in 2021. Much of this has to do with the polkadot ecosystem, which emphasizes cross-chain interoperability and transfer. News of the Polkadot integration sparked a major rally earlier this year at CELR, Celer’s native token.