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Avalanche progress ignites third-party cross-chain bridges

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In 2021, Avalanche blockchain released its own official Ethereum bridge, but currently, a third-party cross-chain bridge seeks to minimize transaction expenses.

Umbria Network has added a new cross-chain bridge to Avalanche (AVAX), a Layer-1 proof-of-stake (PoS) blockchain network, to let dealers transfer liquidity across Ethereum mainnet and the Avalanche blockchain.

Multiple virtual machines, such as WebAssembly (WASM) and Ethereum Virtual Machine (EVM), are supported by the Avalanche blockchain, enabling distinct subs to use various methods of functioning.

Multiple virtual machine assistance makes it simple to connect to Avalanche. In 2021, the network unveiled its official Ethereum bridge, allowing the two-way transfer of ERC-20 and ERC-721 tokens between the two blockchains.

However, the network's expansion, combined with the significant gains made by its native token AVAX in recent months, has resulted in the development of third-party cross-chain bridges.

Narni, a new cross-chain bridge developed by the Umbria Network, claims a 90% lower transaction cost than the official AVAX bridge. The platform stated that its customized solution, which employs single asset liquidity pools and a unique Oracle protocol, decreases the computational complexity of bridging and hence reduces costs by up to 90%.

When explaining the function of AVAX and cross-chain bridges, Barney Chambers, Co-founder and Co-Lead Developer of Umbria, said that the Avalanche blockchain enables decentralized applications that are not financially feasible on Ethereum. He continued, saying:

“Umbria is acting as the glue between all of the L1 and L2 blockchains, enabling users to move their assets in a cheap and timely manner. At Umbria, we envision that, in the future, users will not even need to know what blockchain they are using.”

Cross-chain bridges are a lifeline for the decentralized finance ecosystem, particularly while the gas fee issue on Ethereum remains and appears to be permanent until the transition to ETH 2.0. Popular blockchains featuring cross-chain bridge functionality include Avalanche, BNB Chain, Solana, and Tezos.



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