The implementation of the Ad-Astra portal has elevated the Elrond blockchain (EGLD) to a higher level. Lucian Mincu, co-founder and CIO at Elrond Network, has already announced the commissioning of this inter-chain bridge in May. Today, the portal is being tested with new EVM (Ethereum Virtual Machine) compatible channels.
Binance Smart Chain, the first to be integrated
The Elrond protocol is constantly working to take its blockchain to the next level. It is intended to be highly scalable, fast and secure. The implementation of the Ad-Astra portal is one of the latest upgrades carried out by Elrond. In service since May, this bridge is currently available to integrate EVM-compatible channels. Binance Smart Chain is the first to be integrated.
BSC already ensures compatibility with the current Ethereum mainnet. It’s time to test it with the Elrond blockchain. The test consists of obtaining funds on the BSC testnet before linking them to the Elrond public testnet. They would then have to be reconnected. The participants will provide feedback on transactions, possible bugs, etc. The data obtained will optimize the performance of the portal.
Ad-Astra, an interoperability guarantor for Elrond
Users can very well move digital assets from one blockchain to another without a blockchain bridge. In this case, it would be necessary to go through many steps that generate costs. The user must first convert the crypto into fiat currency before exchanging the resulting sum into another token. This process is expensive in addition to taking time.
This is the whole point of an interoperability portal. The latter is even essential in the face of a constantly increasing demand for Web3 services. With Elrond’s Ad-Astra portal, users can easily manage multiple currencies. And this, even between blockchains with different protocols, rules and governance models. Concretely, this portal allows an exchange of information, smart contracts, cryptocurrencies or NFTs from one blockchain network to another.
The Elrond blockchain and its quest for scalability
The establishment of the Ad-Astra portal is part of Elrond’s ongoing quest to evolve its blockchain. The network wants to take the digital financial system to the next level. He wants to be one of the cornerstones of the Internet economy and wants to be one step ahead in this new financial era.
Elrond is a blockchain platform with a fragmented architecture. It uses the Secure Proof of Stake (SPOs) consensus algorithm. The development of the blockchain platform began in 2017. The Elrond mainline was commissioned in July 2020. The design of the structure of its structure allows high performance under high load conditions.
Since the beginning, the team ofElrond thought big. And the least we can say is that he lived up to his goals. The blockchain has continued to evolve. And with the Ad-Astra portal, it has been able to set up a robust, secure and resilient bridge. Through all these successful designs, Elrond is well on its way to accelerating the adoption of Web3 technologies.
Receive a digest of the news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss anything essential Cointribune!
The Cointribune editorial team unites its voices to express itself on topics specific to cryptocurrencies, investment, the metaverse and NFTs, while striving to best answer your questions.