1/ Cross-chain interoperability is coming, so robust bridges are vital.
17 Jan 2024, 17:52
1/ Cross-chain interoperability is coming, so robust bridges are vital.
Today, bridges have two approaches they can take to serve users: using canonical assets or representative assets.
Only one of these methods is trustless. Learn more below 🧵
Same news in other sources
5Across ProtocolACX #504
17 Jan 2024, 17:52
5/ With intents, users can transfer value between chains at a high speed and low cost without taking on additional risk.
This is exactly how Across works, and it’s the key to its growing dominance in the cross-chain ecosystem.
5/ With intents, users can transfer value between chains at a high speed and low cost without taking on additional risk.
5/ With intents, users can transfer value between chains at a high speed and low cost without taking on additional risk.
This is exactly how Across works, and it’s the key to its growing dominance in the cross-chain ecosystem.
Across ProtocolACX #504
17 Jan 2024, 17:52
6/ This brings us to two conclusions:
Canonical asset bridging is the only secure way to transfer value, and intents designs are the best way to use canonical assets.
Learn more via our blog.
6/ This brings us to two conclusions:.
6/ This brings us to two conclusions:
Canonical asset bridging is the only secure way to transfer value, and intents designs are the best way to use canonical assets.
Learn more via our blog.
Across ProtocolACX #504
17 Jan 2024, 17:52
4/ Using canonical assets does not introduce new trust assumptions, but it can be costly and slow.
Many bridges use DvP mechanisms to transfer canonical assets, but there is a better method: intents.
4/ Using canonical assets does not introduce new trust assumptions, but it can be costly and slow.
4/ Using canonical assets does not introduce new trust assumptions, but it can be costly and slow.
Many bridges use DvP mechanisms to transfer canonical assets, but there is a better method: intents.
Across ProtocolACX #504
17 Jan 2024, 17:52
3/ Bridges that use representative assets do not require external capital as users simply lock up their assets and mint a new one, and they can do so at high speed.
But these solutions introduce trust: the user trusts that they’ll be able to retrieve their native assets.
3/ Bridges that use representative assets do not require external capital as users simply lock up their assets and mint a new on
3/ Bridges that use representative assets do not require external capital as users simply lock up their assets and mint a new one, and they can do so at high speed.
But these solutions introduce trust: the user trusts that they’ll be able to retrieve their native assets.
Across ProtocolACX #504
17 Jan 2024, 17:52
2/ Bridges that use canonical assets require external capital to fill orders quickly.
The bridge can only function if LPs commit capital to liquidity pools.
2/ Bridges that use canonical assets require external capital to fill orders quickly.
2/ Bridges that use canonical assets require external capital to fill orders quickly.
The bridge can only function if LPs commit capital to liquidity pools.