Blockchain News

Cross-Chain Bridge for ORE Network Launched by pNetwork

pNetwork has announced the launch of a cross-chain bridge in collaboration with ORE Network. The bridge enables users to move their ORE tokens from the network to Ethereum through the decentralized application of pNetwork.

The update follows the announcement made earlier to share the launch of a bridge connecting ORE Token to the Ethereum blockchain.

With the recent update in place, it further expands to enable the activity of moving tokens seamlessly across the ORE Network directly in the decentralized application. Users only have to select units in the From and To section of the dashboard subject to the minimum swap amount of 100 ORE.

It takes approximately 5 minutes to conclude the transaction, with a 0.1% fee applied. Both factors are tentative and can be changed based on the prevailing conditions.

Launching a cross-chain bridge is in tune with the mission of the platform to facilitate interoperability activity and the vision of a decentralized future. Anyone can use the platform by accessing the easy-to-use interface.

It currently works cross-chain with Algorand, Ethereum, and EOS, to mention a few, to connect the Web2 identities with Web3.

The native token of the ORE network is $ORE, responsible for running the economic mechanism and functionalities of the network. The native token has been built sustainably to facilitate cross-chain operations for billions of users.

Today’s announcement has added another list that already includes Ethereum <> BSC and Ethereum <> Polygon.

pNetwork is alone responsible for powering the cross-chain movement of pTokens from one blockchain to another. pNetwork currently allows for a transparent interaction among many major blockchains like Ethereum, Bitcoin, Dogecoin, and Binance Smart Chain.

In other words, pNetwork is operating pNetwork Portals and pToken bridges while also being home to the pNetwork DAO and PNT, the governance token of the ecosystem. Other features of pNetwork that match its current stance are NFT portability and Interblockchain communication.

NFT portability refers to moving or playing with NFTs seamlessly on any marketplace without worrying about being restricted on that platform alone. Inter Blockchain communication does have any prerequisites and trusted components for access. Reasons for choosing pNetwork are its security, scalability, and transparency.

A combination of Trusted Computing and Multi-Party Computations makes pNetwork secure for all users. The factor that makes it possible is the expense a hostile element has to bear when making attacks on the network.

It is easy to become a validator on pNetwork. Responsibilities include overlooking the management and processing of a transaction related to collateral.

pNetwork is designed to handle bridges in a large number, making it one of the most scalable solutions in the ecosystem. As a result, users can access the connection across all the blockchains. Apart from pTokens and Portals, one can also explore Network, Technology, and PNT involved in pNetwork.

Edward Nash

Edward Nash is an editor and analyst with over 10 years of financial market experience. Prior to joining CoinNewsSpan, he worked in several famous financial institutions. He has been active in the cryptocurrency market since 2011, specializing in technical analysis of current crypto trends and offering analytical opinion-based pieces.

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