Celer Network Launches cBridge for Fast and Low-Cost Transfers

Celer Network’s multi-chain platform cBridge has just gone live on its mainnet. Users can now utilize the newly-launched network to instantly transfer tokens across  Ethereum, Arbitrum, Polygon, and Binance Smart Chain at a low cost and latency. 

cBridge uses Celer’s existing State Channel technology and aims to take down major challenges preventing a sustainable multi-chain and multi-layer-2 future. It targets issues such as complex UI and UX as well as the high time and cost required to move assets between multiple chains and layers. It especially looks at the anticipated Ethereum layer2 rollup chains i.e. Arbitrum and Optimism. For these, cBridge lets users deposit and withdraw directly and at a fraction of the cost, as well as reducing the time required.

To add to this, what makes cBridge exciting is that it allows direct interoperability and transfer of value between different layer-2 rollups and sidechains on Ethereum, along with any EVM-supported chains. This feature brings Ethereum layer-1 and layer-2 together for a more connected future.

Further, the mainnet launch of cBridge version 1.0 will come with both a user-facing interface and node software. Users can instantly transfer tokens cross-chain and cross-layer between any of two networks: Ethereum, Arbitrum, Polygon, or BSC. At the same time, cBridge will keep the liquidity flow between these without delays or the need for a trust-based custodian.

Suggested use-cases for Celer’s cBridge include:

• Instant and low-cost multi-hop value transfer between different layer-2 networks, without needing the underlying layer-1 blockchain.
• Immediate enter and exit from layer-2 through Ethereum layer-1 without a waiting period.
• A two-way bridge between layer-2 on one blockchain and an entirely different layer-1 network on a different blockchain.

Dr. Mo Dong, Co-founder of the Celer Network, noted that the platform will continually support projects built using Celer Network Solutions. He added, ”As an open-source platform with the mission to bring blockchain adoption to mainstream, our goal with cBridge is to deliver a high-performance and cost-efficient interoperable value transfer network with no compromise on the security or trust-free guarantee.”