HomeCoinsEthereum (ETH)AirDAO launches Ethereum cross-chain bridge for its Layer 1 network

AirDAO launches Ethereum cross-chain bridge for its Layer 1 network

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AirDAO launches Ethereum cross-chain bridge for its Layer 1 network

AirDAO, the decentralized autonomous organization that governs the Ambrosius Layer 1 network, launched an Ethereum bridge for its blockchain ecosystem.

It’s the second cross-chain bridge enabled by AirDAO on the Ambrosius chain and will enable users to move supported crypto tokens from the Ethereum network to its own. The ecosystem already has a BNB Smart Chain bridge.

The cross-chain bridges are among a slew of new features released by AirDAO for the Ambrosius chain. The DAO has also enabled token swaps via a decentralized exchange called FirepotSwap and staking.

Cross-chain bridges have become targets of sophisticated cyberattacks in recent times. Hackers have stolen over $2.5 billion from cross-chain bridges in the last two years.

These incidents currently account for more than half of all DeFi-related crypto thefts, leading to debates about improving bridge security. Some of the major bridge hacks include the Ronin and Poly Network attacks that saw a combined total of over $1 billion stolen.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.



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