Cross-Chain Protocol AllianceBridge Secures Operations Integrity With Omniscia Audits
The newly announced AllianceBridge by AllianceBlock aims to decentralize cross-chain interoperability and token operations in a seamless fashion.
We are proud to announce that one of our partners, AllianceBlock has finally revealed their latest venture called “AllianceBridge”, a seamless and fully decentralized blockchain interoperability platform. The contracts subject to the new protocol were carefully examined by our team of security engineers, and tested multiple times prior to mainnet deployment.
The cross-chain protocol is already live and you can try it here. To learn more about AllianceBridge and how it works, check the tutorial the AB team has put together or read the official announcement here.
It is important to note that such a communication protocol between chains is something many projects are tackling nowadays, yet only few manage to deliver operating examples, with AllianceBlock being among the latter.
Key Features of the AllianceBridge
- Ethereum, BSC, Avalanche, and Polygon support, with more coming soon.
- Native SDKs
- Fast, Secure, and Fully Decentralized cross-chain swaps
- Cross-chain DeFi access
- In-house consensus mechanism build in partnership with Hedera Hashgraph
- 3 Major validators with the goal of 11 by Q4 2021
The multi-chain bridge works by leveraging wrapped token concepts, known as synthetic tokens, more specifically by outlining a thorough minting and burning mechanism that would support the entry and exit of a token that crosses protocols between two different chains.
The entire codebase has been written to resonate with the EIP-2535 standard. It is well documented and defined by the creators of the bridge. Omniscia pointed out any questionable areas that could potentially lead to misbehaviors of the system, which AllianceBlock alleviated accordingly.
“We’re always happy to see our partners pioneering new protocols while paying excessive attention to the security and integrity of operations. With this endeavor, we’re looking forward to strengthening our relationship with AllianceBlock which constantly strives to innovate in the web3 space” — Omniscia
Check out the final audit report here !
About Alliance Block
AllianceBlock is bridging the gap between decentralized finance (DeFi) and traditional finance (TradFi), by remedying issues that exist in both spheres and linking them more closely together. They see the future of finance as an integrated system in which the best of both worlds can work together to increase capital flows and technological innovation.
Building this future by bridging traditional finance with compliant, data-driven access to new decentralized markets, DeFi projects and ecosystem-scaling tools such as funding and interoperability. As such, they are building a next-generation financial infrastructure that aims to provide regulated financial entities around the world with the tools they need to seamlessly access the DeFi space.
“Our chain-agnostic and fully decentralized approach to creating the AllianceBridge means our protocol is positioned to soon become the industry standard. Whether you are a major chain wanting to improve your ecosystem or a young project wanting to extend its reach, it’s important that our solution works with security and integrity fully guaranteed. A stamp of approval by a reputable partner like Omniscia gives us exactly that.” — Rachid Ajaja — CEO, AllianceBlock
Omniscia boasts a decentralized team of experienced smart contract auditors & developers with deep expertise building and securing complex decentralized networks and applications. Our team provides line-by-line security audits ensuring smart contracts conform to the latest standards and are immune to both common and uncommon attack vectors, utilizing an extensive suite of public and proprietary tools in the process.
To learn more about Omniscia, our approach, and stay up-to-date with our activities, feel free to connect with us via:
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