pNetwork deployed on Algorand
pNetwork deployed on Algorand, firstly in 2021 as both companies reach a partnership agreement. pNetwork and Algorand partnership will bring cross-chain capabilities to the Algorand Network and its ecosystem.
Fast forward, pNetwork has launched its cross-chain protocol to the Algorand network. Being one of the most promising networks, various projects are building their dApps around Algorand. As such, the cross-chain capability that the pNetwork protocol provides will enable users from other networks like Ethereum, Binance Smart Chain, Polygon, and more to interact with dApps in the Algorand Ecosystem.
Furthermore, the Algorand cross-chain bridge launch is powered by pNetwork v2. pNetwork v2 is an open-source protocol for cross-chain routing between blockchain ecosystems and scalability networks empowering cross-chain applications. It enables users and smart contracts on any blockchain platform to send and receive assets and data messages cross-chain.
pNetwork Supported Chains
To date, pNetwork supports 15 different blockchain networks, including various Layer 1 blockchain ecosystems and Ethereum Layer 2. With the new addition of Algorand, users and dApps can now interact with other networks and various dApps in their chosen ecosystem.
The first pNetwork-powered cross-chain bridge to launch connects the Bitcoin and Algorand networks. This enables Bitcoin (BTC) to be seamlessly moved to Algorand. This bridge is LIVE, and users can start moving BTC to the Algorand Network and interacting with its ecosystem.
Having cross-chain support for Algorand is a big step toward pNetwork’s mission of connecting all networks. This will help users to move liquidity and assets seamlessly to different ecosystems. The pNetwork believes that users and projects should be able to connect with different ecosystems with the click of a button.
ABOUT pNetwork
The pNetwork is the underlying architecture for pTokens, a cross-chain system enabling assets to move frictionlessly from one blockchain to another, and pNetwork Portals, powering cross-chain interoperability between smart contracts. Currently, pNetwork enables transparent interaction among major blockchain protocols, including Bitcoin, Ethereum, as well as Binance Smart Chain, and Dogecoin. Operating the pTokens bridges and pNetwork Portals.
ABOUT Algorand
Algorand (ALGO) is both a digital currency and blockchain platform. The Algorand platform design to process many transactions quickly, similar to a major payments processor like Mastercard or Visa. Algorand can host other cryptocurrencies and blockchain-based projects, making it a direct competitor to Ethereum. ALGO, the platform’s native currency, use to secure the Algorand blockchain and pay processing fees for Algorand-based transactions.
RESOURCES
Medium
