Celer Network plan to launch cBridge 2.0
Celer Network plan to launch cBridge 2.0 in phases with testnet starting in October. cBridge is a major upgrade to the rapid success of its blockchain interoperability service powered by the Celer State Guardian Network.
Version 2.0 will bring a number of improvements and additions to all cBridge participants including users, liquidity providers (LPs), node operators, and stakers. Improvements are powered by an extension of the Celer State Guardian Network (SGN), the specialized Proof-of-Stake chain essential to Celer’s layer 2 scaling architecture, to support different bridging operation models that cater toward L
cBridge 2.0 will also extend to even more tokens and chains, as well as offering an insured bridge node service to slash a node’s bond to cover the opportunity cost of initiating transfers if a bridge node was not available.
For LPs and node operators, LPs no longer have to run a cBridge node in order to provide liquidity by using Celer’s SGN as a node itself. The simplified liquidity provider experience will offer high liquidity efficiency, incentivized liquidity rebalancing, and high-quality-of-service node scheduling.
cBridge 2.0 Launch Plan
Celer is planning to launch cBridge 2.0 in phases. The phase one testnet is expected to launch in October, with at least two security audits on the system and smart contract.
As well as the aforementioned features, 2.0 introduces cross-chain messaging, enabling applications beyond simple asset transfers, including cross-chain DEXs and NFT cross-chain minting.
Following the testnet and audits, Celer will launch a $1 million bug bounty program alongside a gradual mainnet rollout as part of phase two.
About Celer Network
Celer Network is the most advanced layer-2 scaling platform to build fast, easy-to-use, low-cost and secure blockchain applications at internet scale. Celer was founded by experienced entrepreneurs with PhDs degrees from MIT, Princeton, UC Berkeley and UIUC and has a fast-growing all-star team with years of engineering, product, user growth and marketing experience from tech giants like Google, Amazon, Cisco, Oracle, HP and more.
