XP Network to Develop Elrond-Polkadot Bridge to Build NFT dApps

If you want to construct a non-fungible token decentralized application (NFT dApps) on numerous chains, there is good news. A new platform under development by XP Network has a unique design that enables anyone to do so. This permits applications to be created by using a no-code graphical interface that can be easily fielded or transferred to numerous chains like Polkadot, Facebook’s Diem, BSC, Ethereum, and Elrond. 

Polkadot-centric XP Network seeks to build a link between Elrond and Polkadot as the first step towards mutual partnership. This will permit the two-way passage of the surge in properties between the mainnet and the parachain of the XP Network’s Polkadot, eventually leading to the full-scale operation of NFT dApps.

This platform will work according to the three basic tenets: An equivalent wallet will be formed when Elrond receives the smart contracts of XP Network. Following this, assets are created, and their exchange rates are withdrawn from an oracle. The blockchain that initiates makes a trial. On succeeding, a similar test is initiated on the side of Elrond. A genuine business deal is triggered when both trials test positive. At this point, the new custodian receives the assets which are released. However, if Elrond’s test fails, the deal is canceled, and the two parties regain their initial assets. The coming weeks will see the availability of the pre-commit version of the link.

The construction of the premier link is profound because it enables faster interoperability between the Polkadot and Elrond ecosystems. Integrating the XP Network mainnet onto the XP Network will accelerate the number of NFT-centric dApps on the blockchain, making it more popular for users. 

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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