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XP Network Cross-Chain NFT Bridge Now Live on Elrond Devnet

XP Network Cross-Chain NFT Bridge Now Live on Elrond Devnet
  • XP networks cross-chain NFT bridge is now live on the Elrond public devnet
  • NFT can now run on various networks such as Ethereum, and Binance Smart Chain

XP network’s latest cross-chain NFT bridge is now live and available on the Elrond public devnet. As a result, this technology allows NFT to run between test networks of Elrond, Ethereum, Binance Smart Chain, Huobi ECO (HECO) Chain, and the XP Network on Polkadot, with Cardano, Solana, Avalanche to name a few. Indeed, this is a very great creation made by XP networks.

This made the XP Network CEO and Co-Founder Nir Blumberger, react:

The Elrond design stands out because it integrates tokens directly into the protocol, which makes minting and transferring NFTs a lot more efficient. This looks like it can be very attractive to our users, so we’re doubling down on the integration efforts with Elrond, as part of our strategy of positioning the XP Network as the epicenter of a multi-chain NFT ecosystem.

Furthermore, this partnership between Elrond and XP network demonstrates the interoperability of the Ethereum Virtual Machine-based chains and WASM-VM-based chains to go live in no time. If it does, the token transfers between these networks will all be seamless.

On the other hand, these achievements made by Elrond and XP network made the crypto world proud once again. Through this, bridging one crypto network to another will become more efficient than ever.

Elrond, the internet-scale blockchain is designed to bring a 1000-fold cumulative improvement in execution speed. To achieve this, Elrond introduces a novel Adaptive State Sharding mechanism and a Secure Proof-of-Stake (PoS) algorithm. These two key innovations allow linear scalability with a fast, efficient, and secure consensus mechanism.

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A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.