Although the Avalanche blockchain established its own official Ethereum bridge in 2021, a third-party cross-chain bridge claims to lower transaction costs even more.
Umbria Network has released a new cross-chain bridge for Avalanche, a layer-1 proof-of-stake blockchain network, to help traders transfer liquidity between the Ethereum mainnet and the Avalanche blockchain.
Avalanche supports a variety of virtual machines, including WebAssembly and the Ethereum Virtual Machine, which allows separate sub-chains to use alternative methods of operation.
Connection to Avalanche is simple because to the support for many virtual machines. In 2021, the network unveiled its official Ethereum bridge, which allows ERC-20 and ERC-721 tokens to be transferred back and forth between the two blockchains.
However, in recent months, the network’s growth and native token, AVAX, have seen significant advances, prompting the establishment of third-party cross-chain bridges.
In comparison to the official Avalanche bridge, Narni, a new cross-chain bridge from the Umbria Network, promises to deliver a 90 percent lower transaction price.
The platform says that their proprietary technology, which combines single-asset liquidity pools and a custom oracle protocol to reduce bridging’s computational complexity, may save up to 90%.
Barney Chambers, co-founder and co-lead developer of Umbria, outlined the role of AVAX and cross-chain bridges, saying that the Avalanche blockchain permits decentralized applications that are not economically possible on Ethereum. He continued:
“Umbria is acting as the glue between all of the layer-1 and layer-2 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 have become a lifeline for the decentralized finance ecosystem, especially while the Ethereum gas fee issue persists and appears to be here to stay until Ethereum 2.0 is released. Popular blockchains featuring cross-chain bridge functionality include Avalanche, BNB Chain, Solana, and Tezos.
Cointelegraph was used as a source.