cBridge to Enable Cross-Chain Bridging on Emerald Paratime

Celer has collaborated with the Oasis blockchain to incorporate cBridge into the Oasis Emerald ParaTime, an EVM-Compatible ParaTime on the Oasis blockchain that provides a smart contract atmosphere with entire EVM compatibility.

Users Can Now Connect the Following Tokens to Oasis

– Ethereum USDT, USDC, WETH, DAI

– Binance Smart Chain BNB, BUSD 

– Ethereum USDT, USDC, WETH, DAI

– AVAX (Avalanche)

Oasis is the world’s first scalable, confidentiality-enabled blockchain capable of supporting private DeFi and Data Tokenization. The system is expandable, flexible, and highly confidential, with a top-level architecture that divides consensus processes from parallel computing into mainly two layers: the Consensus Layer and the ParaTime Layer. This design enables the System to cover a wide variety of parallel compute environments (aka ParaTimes) that can be tailored to a variety of functionalities.

As Celer cBridge approaches $3.1 billion in total trading volume and $270 million in TVL, they are expanding their support for even more ecosystems, and promoting the Oasis blockchain from the start was a critical component of this attempt. Celer’s SGN (a Tendermint-based PoS side chain to Ethereum) will facilitate transactions and transfer of funds between Oasis as well as Ethereum, allowing BSC, Fantom, and Avalanche to benefit from fast final judgment, low prices, and safety based primarily on Eth layer-1.

This is only the beginning of a new collaboration with enormous potential. More tokens would be introduced as the integration advances. Celer will also allow Oasis to link closely to other DeFi ecosystems while maintaining full connectivity.

Celer cBridge-enabled assets such as DAI, USDC and USDT would be readily accessible for use on Oasis Dexes and lending protocols, with more information to come.

Allowing asset bridging on the Oasis platform is the very first step in Celer and Oasis’ shared vision. Moreover, the Celer Inter-Chain Message (Celer IM) Framework would provide a platform for Oasis customers and DApp developers to build inter-chain applications with efficient liquidity utilisation, cohesive reasoning, and shared states. It means users can take advantage of a multi-chain eco – system with a single exchange.

About Celer Network

Celer Network is the foremost inter-blockchain as well as cross-layer communication platform that enables cross-chain clement and bridging that is quick, safe, and low-cost. Celer’s core applications and middleware, such as Layer2, the Inter-chain Message Framework and cBridge, are all available. Finance has attracted significant blockchain contributing factors and a large number of end customers in the DeFi, blockchain integration, and playing games spaces to construct and use inter-chain native apps facilitated by the Celer tech suite.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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