On Wednesday, May 4th, a representative of the Stellar blockchain revealed that the network will now support a DeFi bridge. Users will now be able to bridge Stellar tokens with Polkadot and Kusama tokens on the decentralized platform.
In a video podcast this week, Sam Conner invited Torsten Stuber, the CTO of Pendulum, to demonstrate how bridging can be done on the platform. The process was smooth and was completed within seconds. The DeFi platform also supports swapping from crypto to fiat and vice versa.
The bridge will serve as a reliable alternative for atomic swaps. Atomic swaps allow tokens to be transferred from one chain to another. However, Atomic swaps have some limitations. Two or more participants are required for Atomic swaps to succeed, and transactions must co-occur.
Viewers of the podcast expressed their appreciation for the development. More tokens are becoming bridgeable, giving crypto users the option to alternate between different chains.
Stellar will act as the backing blockchain for the bridges, while Pendulum will serve as the issuing blockchain. Different cosigners will control the Stellar Bridge. Any of the cosigners can join and leave the network at any time. This will help maintain decentralization.
The Stellar x Dotsama Bridge can be integrated by any Polkadot or Kusama parachain. With the DeFi Bridge, users can freely transfer tokens from one blockchain to another without needing a second party.
The Polkadot x Kusama network is utilized by many mainly because of its parachains. The parachain on the Polkadot and Kusama networks allows external networks to interoperate via the bridge. The bridge is decentralized, and its smart contract can complete trustless transactions on the network.
Stellar was created as a reliable protocol for making retail and cross-border payments. Stellar holders will enjoy a better user experience with blockchain interoperability now on the protocol.