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Celer Network has been revolutionizing the blockchain industry by offering its interoperability technology to enable a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, and more, across numerous different chains. The project also keeps connecting to other projects, integrating its cBridge, and granting its new partners the ability to transfer tokens from chain to chain directly.
The latest such partnership came when Celer Network partnered with Kava in order to grant it access to cBridge and allow Kava’s users to bridge USDC, USDT, WETH, DAI, and WBTC between Ethereum and Kava.
Celer and Kava team up
Blockchain technology is on its way toward reaching Web 3.0 — a decentralized version of the internet that will run on blockchain technology. However, in order for Web3 to become reality, blockchain technology first needs to master interoperability and cross-chain transactions of data and money alike.
Celer Network is one of the leading projects that are trying to achieve this by developing its own cross-chain tech called cBridge, which can be integrated into other chains, thus granting them access to the multi-blockchain network. This network is growing larger with each such partnership and integration, and Kava just became the latest project to join it.
In doing so, Kava users will be able to bridge tokens securely, quickly, and at an extremely low cost. Not only that, but Celer will also help Kava with its continued evolution, turning it into a more open, optimized Layer-1 blockchain and joining the collective effort to enable Web3.
What is Celer’s cBridge?
The cBridge can be described as a multi-chain network that offers cheap, instant valua transfers. It currently supports over 130 tokens, and it managed to establish over 720 bridges, connecting 33 different blockchains. The bridge makes Celer Network one of the crucial projects for establishing interoperability, and therefore, for reaching Web3.
For the moment, the bridge only supports a handful of cryptocurrencies, including USDC, USDT, WETH, DAI, and WBTC. However, this is far from being the full extent of its abilities and potential. In time, Celer plans to extend the feature to offer NFT bringing, passing of generic messages, and more, which will enable more secure and flexible approach to facilitating interoperability between Kava and the rest of the blockchain space. At least as far as the connected blockchains go.
Of course, Kava itself stands to contribute significantly to the Web3, since it is a secure, lightning-fast Layer-1 blockchain that combines Ethereum’s development potential with the speed and interoperability of Cosmos, all in a single, scalable network. With that said, it is not surprising that it attracted Celer Network’s attention and interest, as fast and scalable networks are needed in order to set up a good, reliable foundation for Web 3.0, and avoid the issues that the crypto industry is facing today due to the problems of older blockchains.
To learn more visit our Investing in Celer Network guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.