Matrixswap is Maximizing Efficiency for its Users with its Cross-chain Bridges
In crypto, each blockchain features unique elements. Luckily, Matrixswap uses cross-chain bridges that connect Ethereum to Polkadot and Cardano chains, providing smooth interoperability between the networks.
As a fully decentralized virtual-AMM-based perpetual swaps trading protocol, Matrixswap understands the importance of trading when you want and how you want. This is one of the primary reasons it uses cross-chain bridges — to unlock liquidity from different blockchain networks, thereby empowering traders with maximum capital efficiency. Let’s take a look at cross-chain bridges, how they work, and why Matrixswap uses them.
What are cross-chain bridges?
Cross-chain bridges are digital pathways that allow data, money, and dApps to move seamlessly from one blockchain to another. You can also think of blockchain bridges as gateways through which blockchains can mix.
Why are cross-chain bridges important for Matrixswap?
The interoperability provided by cross-chain bridges allows the transfer of tokens, data, and even smart-contract instructions between independent platforms. This is vital for blockchains, as it essentially allows projects like Matrixswap to deploy digital assets hosted on one blockchain to dApps on another. It also means that Matrixswap can carry out fast, low-cost transactions on other chains and even run dApps across more than one platform.
How do cross-chain bridges work?
Though different chains have different protocols, rules, and governance models, bridges provide an inter-communicative and compatible way to interoperate securely on both sides.
Matrixswap utilizes trustless bridges in which users don’t have to place trust in a single entity or authority but rather trust in the mathematical truth built into the code. The Matrixswap bridge protocol wraps the following components, each with separate functions, to make trustless bridges work:
– Ethereum Bridge Parachain Collator Node
– MatrixSwap on MoonRiver
– Relayer Service
– Ethereum Full Node
Matrixswap also features a customized DEX aggregator (Nebuchadnezzar), connecting high-volume AMMs across DOT, ADA, and MATIC networks.
What value do cross-chain bridges bring to the community?
Matrixswap aims to allow anyone in the world access to futures trading without any barriers or restrictions. And since Matrixswap is fully decentralized, everyone can benefit from the project’s transparency, security, and low fees. Cross-chain bridges also allow users to trade or swap a greater number of cryptocurrencies on Matrixswap compared to other AMMs or DEXs.
Cross-chain bridges enable users to:
– Deploy digital assets on one blockchain to dApps on another.
– Conduct fast, low-cost transactions of tokens hosted on non-scalable blockchains.
– Implement and execute dApps across more than one platform.
With DeFi skyrocketing since early 2020, the demand for cross-chain composable systems in the DeFi space is currently at an all-time high. In DeFi, cross-chain bridges enable users to enjoy the best of all blockchain networks without having to choose a particular network. Matrixswap features several cross-chain bridges which connect Ethereum to Polkadot and Cardano networks. The project believes that DeFi should be precisely decentralized, which is why Matrixswap utilizes trustless bridges rather than centralized ones.
For more information about Matrixswap, as well as more details about how it uses cross-chain bridges, check out our links and social media low:
Connect with us!
Source: Read Full Article