The new bridge provides new interoperability and easy transfer of assets between known chains.
Allbridge, a trusted bridging infrastructure provider, has introduced revolutionary interoperability to the Stellar ecosystem with a new cross-chain bridge. The new bridge offers a seamless transfer of digital assets between Stellar and other well-known networks such as Ethereum, Solana, Celo and Polygon.
The new bridge to the Stellar network is a purpose-built integration of the existing Allbridge bridging solution. It will provide Stellar users with the ability to securely and efficiently use assets across multiple blockchain networks.
Through strategic integration with both Ethereum Virtual Machine (EVM) compatible chains and non-EVM compatible chains such as Solana, this bridge provides developers running on the Stellar network with the ability to connect their decentralized applications (dApps) to other networks and therefore reach a wider coverage. audience.
“At Allbridge, we are committed to increasing cross-chain interoperability between different blockchain ecosystems,” said Andrey Veliky, co-founder and CEO of Allbridge. “The latest integration with the Stellar network is the result of our hard work, meeting the expectations set by the Bridge Bounty program. With this new bridge, we are bringing access to the Stellar ecosystem to countless DeFi users, allowing them to experience the vast ecosystem of Stellar apps and services.”
Ultra Stellar, a key player in the Stellar ecosystem with over nine years of experience, has played a key role in integrating this new bridge into Stellar. The Ultra Stellar team provided important support by providing engineering resources, hosting services, and continuing to offer transaction signing services for validators.
The ability to connect different crypto ecosystems will be fundamental as the DeFi capabilities of the Stellar network are expanded with Soroban, a smart contract platform on Stellar. Through open source development, ongoing expansion, and potentially significant funding, developers using Soroban will gain new opportunities to innovate and build financial applications that are available locally and relevant globally.
Developers, builders, and entrepreneurs in major blockchain ecosystems now have the ability to seamlessly interact with the Stellar network and incorporate it into their platforms or development plans. To support this innovation, the SDF announced the creation of the Soroban Adoption Fund. worth $100 million, which includes the Stellar Community Fund, as well as grant programs spanning many disciplines. This initiative aims to encourage developers to harness the power of Stellar’s own smart contract platform, Soroban.