Celer Network is excited to announce the successful implementation of bridging support for Ontology EVM. Users are now able to bridge USDT, USDC, ETH and WBTC via the Open Canonical Token Standard between Ethereum and Ontology EVM in a fast, secure and low-cost fashion.
Celer-bridged token addresses on Ontology EVM:
Ontology is a project designed to bring trust, privacy, and security to Web3 through decentralized identity and data solutions. It is building the infrastructure and delivering the tools for Web3. Ontology’s high-speed, low-cost public blockchain is designed to increase privacy, transparency and trust, aiming to be a public chain that puts the users’ security and privacy front and center, whilst also allowing for interoperability. Their recently launched Ontology Ethereum Virtual Machine (EVM) will increase Ontology’s functionality by adding an Ethereum account system, Ethereum transaction types, and Web3 APIs to the existing Ontology blockchain. This will reduce migration costs for developers, allowing them to enter EVM-based ecosystems on Ontology. With lower gas fees and faster block production, it promotes creating seamless connections between the Ontology chain and other EVM-based ecosystems, increasing cross-chain interoperability!
By following the Open Canonical Token Standard, Celer’s bridging support for the Ontology EVM has begun with USDT, USDC, ETH, and WBTC, and will extend to other tokens going forward, outlining a more secure and flexible approach to facilitate interoperability between Ontology and the broader blockchain space.
Celer will keep working with other core interoperability contributors to promote the open standard as a default deployment model. Massive efforts have been seen from different chains and protocols like Ontology in raising the awareness of phasing out bridging practices that come with innate vendor lock-in implications. What this will mean is a future blockchain space with not only just workable interoperability, but more decentralized, secure and upgradable cross-chain potential.
Ontology is a project designed to bring trust, privacy, and security to Web3 through decentralized identity and data solutions. It is building the infrastructure to provide trusted access to Web3, allowing individuals and enterprises to rest assured through regulatory compliant digital identity solutions.
The Ontology blockchain is a high-speed, low-cost public blockchain. It is designed to bring decentralized identity and data solutions to Web3, with the goal of increasing privacy, transparency, and trust. To achieve this, users and enterprises are provided with the flexibility to build blockchain-based solutions that suit their needs, while also ensuring regulatory compliance. Through Ontology’s Ethereum Virtual Machine (EVM), Ontology ensures frictionless compatibility with Ethereum, the first step in creating the Ontology Multi-Virtual Machine and further interoperability for the chain.
Learn more about their decentralized data and identity solutions on their website and official Twitter account. You can also chat with them on Telegram and keep up-to-date with the latest news via their Telegram Announcement account.
About Celer Network
Celer is a blockchain interoperability protocol enabling a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, privacy solutions and more across multiple chains. Developers can build inter-chain-native dApps using the Celer Inter-chain Message SDK to gain access to efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, all from a single chain.
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