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Monday, September 26, 2022

Bridge Network, The Cross-Chain Communication Protocol, Brings In $3.8M

Launched out of Barbados, Bridge Network is among the first financial decentralized projects from the island and has secured $3.8M from major tech venture capitalists. They include MEXC Global, FTX Ventures, Blockfinex, Grit Capital, Abed Group, and Master Ventures.

Bridge Network was founded by Kimberly Adams, a Barbadian-Guyanese entrepreneur. It is a middleware tech platform providing interconnectivity to blockchains and permits users to move digital assets across multiple blockchain ecosystems. With more than 100 blockchains ruling the cryptocurrency market, and rising numbers, Bridge Network has a promising future ahead.

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Adams said that with the rise in the use of blockchain technology, and as new networks solve multiple problems, the greatest issue facing companies like Bridge Networks is the capacity to better transact among networks.

Bridge Network Among First Bridging Infrastructures Allowing Token Issuers To Go Multichain

All blockchains have their individual standards which each digital asset is forced to follow. With the help of Bridge Network, non-fungible tokens, cryptocurrencies, and other digital assets can move freely across networks regardless of the blockchain infra on which they are built.

To put it in simple terms, if an NFT or token is launched on Ethereum, but prefers to make it accessible on Avalance, token issuers can include that token to the Bridge Network without permission in minutes and users can start bridging immediately.

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This project has the overwhelming support of the world cryptocurrency community and also the regional and local communities. Ever since this Network was launched as a trial version, it has logged in over a million transactions.

Angel investor and crypto lawyer, Lily Dash says that Adams is among the finest of the Barbadian-Guyanese businessmen and a genuine representative of what talent and innovation in the Caribbean can achieve. This Network can solve a major problem seen in all cross-chain settlements and can turn into viable support to the multi-trillion dollar industry.

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