AllianceBridge Enables Applications On Different Blockchains Interact With Each Other

AllianceBridge is a fast, secure, decentralized, and open-source interoperability solution that helps DeFi overcome the limits of a fragmented blockchain space. It is completely chain-agnostic and is built for blockchain interoperability. It can be used natively on the target blockchains and can drive the mass adoption and seamless, inter-blockchain compatibility features that DeFi seeks but has so far been unable to achieve.

AllianceBridge has successfully built out, tested and audited its seamless and fully decentralized blockchain interoperability platform and is now available on mainnet since July 12, 2021. Unlike most bridges that have a centralized relayer and/or have direct control over tokens (eg. using pools on each network so that they don’t need to wrap the tokens to bridge); AllianceBridge does everything completely decentralized, using the Hedera Consensus Services.

AllianceBridge is governed by a set of validators. It has a novel synchronisation mechanism based on Hedera Hashgraph Consensus Service. This allows the validators to synchronise in a decentralized way instead of a heavy and slow “gossiping” protocol.

AllianceBridge is a key element in this mission. It can help bring about the seamless interoperability currently enjoyed by traditional finance without having to rebuild existing platforms, systems, and services from scratch. It currently helps connect between Ethereum, Binance Smart Chain (BSC), Avalanche, and Polygon — the leading blockchains and protocols of the DeFi space — and can be extended to other chains. In the past, applications built on these platforms worked on the base platform only. So, Ethereum-based apps worked on the Ethereum blockchain only, and BSC applications worked on the BSC only.

Now, all of the products, services, and investment opportunities built on these different platforms, such as cross-chain swaps, staking, yield aggregation, liquidity pooling, lending and investment protocols and more, can all communicate with each other and build on top of each other using AllianceBridge, which is something that was never possible before

ABOUT AllianceBlock
AllianceBlock is building the first globally compliant decentralized capital market. The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that automates the process of converting any digital or crypto asset into a bankable product.

RESOURCES
Medium