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- Arcadia, a security counseling organization and blockchain software development company, have joined forces for developing a cross-chain bridge.
- Both the organizations will develop a liquidity network layer for Casper Network, enabling the users to mobilize their virtual assets.
- Casper’s future-proof architecture assists in solving blockchain conflict by providing safety, decentralization, and scalability.
Collaboration For The Cross-Chain Bridge
Arcadia, a blockchain software development and security consulting organization, teamed up with DotOracle Network to create the world’s first cross-chain bridge on Casper Network, the initial proof-of-stake (PoS) blockchain built according to the Casper CBC (correct-by-construction) protocol.
People will be able to exchange virtual assets back and forth among Casper and MoonBeam Polkadot, Ethereum, Binance Smart Chain, Avalanche, Polygon, Fantom, and Tomochain thanks to a liquidity network layer built by Arcadia and DotOracle for Casper Network. It’ll be the first time Casper has ever used a bridge to interact with other chains.
Casper was created by Ethereum developers with the purpose of increasing global acceptance of blockchain, smart contracts, and decentralized apps (dApps). Its PoS protocol is based on the CBC method, which prioritizes enterprise-level safety while allowing for flexibility.
As a result, the Casper network is built to ensure that the ecosystem is constantly upgraded in response to the changing demands of users.
Casper’s future-proof design aids in resolving the blockchain conundrum by providing security, scalability, and decentralization without jeopardizing any of these critical features.
This is critical for ushering in a new age for Web3, and interoperability must be a priority, yet Casper has remained isolated.
In reality, fragmentation has been one of the key issues slowing down the development of blockchain technology worldwide.
Fortunately, the cryptocurrency community rapidly understood that interoperability should be one of the primary driving forces, and now we have a slew of fast-growing chains dedicated to making current blockchains more interoperable with one another and within their own environments.
Bridges, which are customized smart contracts that enable transactions across two independent blockchain systems, even if they use different architecture and consensus methods, are primarily responsible for this.
The Perks Of This Collaboration
DotOracle and Arcadia will work together to develop a liquidity network layer as a bridge. This channel will connect the Casper ecosystem to the DotOracle bridge, and Arcadia will deploy a unique frontend to support the DotOracle Network and act as a verifier.
DotOracle was created to assist the Polkadot ecosystem in integrating with other chains as well as the physical world. It serves two purposes: as an oracle for Polkadot and as a cross-chain liquidity network.
For those unaware, oracles provide verified data inputs to allow underpinning blockchains interface with the off-chain world. DotOracle bridges, on the other hand, enable users to transfer virtual assets from other blockchains to the Polkadot ecosystem via the MoonBeam Parachain.
This collaboration will offer perks to users like, foreseeable transaction fees, dynamic functions are fueled by Casper Network’s correct by construction specification, swift transactions with escalated block finality fueled by network’s Proof of Stake mechanism known as Highway, and will have enterprise-level safety.
DotOracle bridge operates as same as other famed cross-chain channels, like Binance Bridge, which links BSC with ETH, Solana, and Ethereum, are linked via Wormhole Bridge, etc.
Every transaction back and forth will be done via a decentralized network of verifiers, which will involve Arcadia.