Easy2Stake, active validator on deBridge
Easy2Stake is proud to support deBridge with industry-leading blockchain infrastructure. deBridge.finance is described as a cross-chain interoperability and liquidity transfer protocol. It allows decentralized transfer of arbitrary data and assets between various blockchains. The cross-chain intercommunication of deBridge smart contracts is powered by the network of independent oracles/validators elected by deBridge governance, one of which is Easy2Stake.
What do cross-chain interoperability and liquidity transfer protocol mean?
Let’s say you’re in the situation where you want to perform a transfer of the asset from chain ETH to chain BSC, you have a limited number of options to do that — you have centralized bridges or Binance exchange, and with each of them you face limitations. One of the drawbacks is that centralized bridges are usually controlled by some authority, they can start using your private data, or they can even freeze the users’ funds.
The solution that deBridge is offering is a truly decentralized protocol that enables transfers of assets between various blockchains via locking/unlocking of the asset on the native chain and issuing/burning the wrapped asset (deAsset) on secondary chains or L2s.
A wrapped asset, or a wrapped token, is a cryptocurrency token pegged to the value of another crypto. The name is pretty intuitive, really, the original asset is put in a wrapper, a kind of digital vault that allows the wrapped version to be created on another blockchain. And thanks to the wrapped tokens there can be more bridges between different blockchains.
Cross-chain communication between different blockchains is maintained by elected validators who run the deBridge node to perform validation of cross-chain transactions that pass between smart contracts of the deBridge protocol in different blockchains.
Back to the example from above. If you want to transfer the asset from chain A (native chain of the asset) to chain B (secondary chain). Then the following steps are performed:
- If the transferred asset isn’t the native blockchain asset (i.e ETH or BSC) the approve method is called. Then the send method of the DebridgeGate contract is invoked. The transferred amount of assets is locked in the smart contract.
- deBridge validation nodes track events emitted by deBridgeGate smart contract and after a minimum number of block confirmations validators, such as Easy2Stake, submit the transfer identifier (submissionId) to the deBridgeAggregator contract in the target chain.
- If the submissionId collected the minimal required amount of confirmations from validators it is treated as confirmed and the wrapped asset is minted to the receiver address.
Present at LisCon 2021, CEO and Co-Founder Alex Smirnov, held a presentation about how the blockchain ecosystem will be moving towards a multi-chain future.
“We’re excited that Easy2Stake will support deBridge, providing developers with rapid access to highly available full nodes and validator nodes for running the infrastructure required to run their smart contracts on deBridge. We’re also excited to explore additional collaboration opportunities with Easy2Stake in the field of multi-chain liquidity and to work together to significantly accelerate our growth.”
The deBridge protocol is an infrastructure platform and a hooking service which aims to become a standard for:
- cross-chain interoperability and composability of smart contracts
- cross-chain swaps
- bridging of any arbitrary asset
- bridging of NFTs
Similar to SEPA Money Transfers or the Swift services in real life, deBridge performs the same kind of services on blockchain, and Easy2Stake is one of their active validators, focusing on running infrastructure. Our team has been supportive in joining the deBridge validator network from the very beginning, as we share the same vision for the multi-chain future. Easy2Stake will enable deBridge to leverage our industry-leading blockchain infrastructure to fuel the deBridge ecosystem’s success. We’re committed and confident to deliver exceptional performance to secure the deBridge network as a go-to cross-chain interoperability protocol.
Easy 2 Stake deBrige delegation address:
“We look forward to a long and prosperous future with deBridge, supporting their mission-critical infrastructure and delivering value for the community. deBridge is one of the fastest-growing cross-chain enablers in the market with a truly impressive growing volume of transactions as seen from successful testnet performance especially in the DeFi space. We hope to accelerate global adoption of the deBridge network and DeFi services, as well as scale both of our growing ecosystems together.” Liviu Nica, CEO Easy 2 Stake
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