New Generation bridge, The Internet
of Etherium it’s all in Connext.
Good day, my dear readers! Connext is on our agenda today. And you know, I would say that this is a project, but it’s not….
Connext is a huge ecosystem consisting of both a bridge and a tool that allows you to create a cross-chain dApps (xApps). Who else can provide such opportunities today? Connext is the only one capable of such a thing.
Go Cross Chain, Not Multichain
We know that the main condition for using a multichain is the presence of an asset in both networks, but a cross-chain does not need it.
Let’s take an example of how cross-chain works, and why is it easier, more convenient and better?
For example, you decided to transfer USDT from the Ethereum network to the Optimism network, you use a cross-chain bridge, choose a transfer, specify the amount of USDT, the recipient’s wallet address.
After the transfer, the smart contract of the cross-chain bridge blocks your USDT in the Ethereum network, then the bridge transmits information about the number of blocked USDT and the recipient’s wallet address using Connext to the Optimism network. After that, the bridge smart contract in the Optimism network will unlock a similar amount of USDT and send it to the specified wallet already in the Optimism network. All this happens automatically.
Connext helps to transfer third-party data to the blockchain, since the blockchain itself is a closed ecosystem, information from outside does not directly enter it, so dApps deployed in the Connext ecosystem are more important than ever for the correct operation of smart contracts and cross-chain transfers.
Connext copes well with solving urgent problems and is already well known to many. By the way, this ecosystem is supported by very large projects, but more on that later. Now let’s talk about the Connext token.
$NEXT
NEXT is an ERC20 utility and governance token that powers fair utilization of the network.
Unlike other solutions in the interoperability space, where the security architecture relies on economic incentives (tokens of the protocol), Connext is secured directly by the chains underlying it. Thus, the purpose of $NEXT is to maintain operational fairness for routers
NOTE: Snapshots for the distribution of NEXT have already been taken and at this point the only way for community members to potentially earn more tokens is through Connext Contributor Program
$NEXT token information:
$NEXT
Standard: ERC20
Total supply: 1.000.000.000 $NEXT
Token address on Ethereum: 0xd63014F367aFe2eb006FD3dD6C02110A9dCE42dC
$NEXT listing is scheduled after the end of the first phase of the contributors program
Supported chains.
Currently, there are 17 networks in the Connext support list, but we all understand that this is just the beginning and the number of supported chains will increase.
Chain list: Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Gnosis Chain, Arbitrum, Optimism, Moonbeam, Moonriver, Fuse, Milkomeda Cardano (C1), Boba L2, Harmony One, Gather Network, Cronos, Evmos.
A Growing Ecosystem
The Connext ecosystem is developing and growing together with the following infrastructures: The Graph, Nomad, Bware Labs, Gelato.
You can find full list here
Featured on
Such giants as NASDAQ, Coindesk and The Block could not pass by such a large-scale project.
I strongly recommend visiting these resources.
Let’s summarize the results
Connext is a network for fast, trustless communication between chains and rollups. It is the only interoperability system of its type that does this cheaply and quickly without introducing any new trust assumptions. Connext is aimed at developers who are looking to build bridges and other natively cross-chain applications. To date, over $1.3b in transactions have crossed the network.
SOCIALS: Website | Documentation | Twitter | Discord | Github | Blog | Connext Contributor Program
Thank you for reading, dear readers!
