Konomi Chooses Darwinia As Bridge Between Polkadot and Ethereum Assets

As the blockchain ecosystem continues to advance, it is evident that interoperability between networks will play a vital role in widespread adoption. This will be the only way to unlock the full value that blockchain technology enables. Currently, the majority of the DeFi ecosystem is built on top of Ethereum, the largest smart contract platform. However, a massive increase in transactions has taken a toll on the network’s ability to process everything in a cost-effective manner.

Alternative and complementary smart contract platforms like Polkadot plan to offer a solution to this, extending a bridge between networks that allows for synthetic Ethereum-based assets to be easily utilized on a more effective platform. As a decentralized money market and liquidity protocol built on Polkadot, Konomi Network has tapped Darwinia to act as the bridge between network assets, creating a much more all-encompassing decentralized market.

Full Interoperability

Konomi is still setting the groundwork of its ecosystem, planning to launch live on the Polkadot mainnet in Q3 of 2021. The platform is available to test in its beta platform on a testnet, showing users a real-life example of some aspects of the cross-chain exchange. As a money market and liquidity provider, Konomi will be able to offer users substantially higher returns based on a reduction of transaction costs and instant finality. This will promote Konomi as the all-in-one marketplace users can go to exchange crypto assets. Until Proof-of-Stake fully launches on Ethereum, ushering in much faster and cheaper transaction costs, more users will opt for platforms that utilize Polkadot, where they can potentially save hundreds if not thousands of dollars in platform transaction fees.

Darwinia Enables Broader Cross-Chain Use Cases

All you need to know about Darwinia

As an open cross-chain bridge protocol based on Substrate, Darwinia focuses on the construction of future Internet of Tokens. TG: http://t.me/DarwiniaNetwork