- Tezsure has launched Plenty, the bridge that connects the Tezos and Ethereum blockchains.
- Thanks to Plenty, the transfer of tokens between Ethereum and Tezos was almost an hour, while now it is less than five minutes.
- At the moment the USDC, DAI, USDT and BUSD stablecoins and the WBTC, WETH, LINK and MATIC tokens can be transferred.
The future of cryptocurrencies will not be based exclusively on a single network, but will be about a connection between blockchains and that is what he worked on texture, the team of developers behind plenty a bridge decentralized platform that connects two very powerful blockchains: Ethereum and Tezos.
As we already know Ethereum is one of the most important blockchains on the market, while Tezos has gained traffic and exposure in recent months and what Plenty does is streamline shipping between both blockchains.
Thanks to this bridge, sending tokens from one block chain to another is quick and easy. Before the transfer was almost an hour, while now it is less than five minutes. This will make it much more usable.
What digital assets can be transferred? USDC, DAI, USDT and BUSD stablecoins. Also the popular WBTC, WETH, LINK and MATIC. In the future they could add more tokens as well as more bridges. It is already planned to merge Tezos with Avalanche, Polygon and Binance Smart Chain.
How does Plenty work?
The bridge of Plenty is a decentralized protocol, which is supported by a strong federation (Signers Quorum) that guarantees the stability of the bridge, as reported by the company Tezsure. Knowing the risks to which the bridges are exposed (there are hundreds of cases of hacks to them), Tezos assures that it took all the necessary precautions to avoid any type of problem.
“Through the bridge, users receive tokens in the format
. , Tezsure acknowledged. The price parity of the original tokens is guaranteed.(bridge tokens) which are representations of ERC20 tokens on the Tezos blockchain. These tokens can be used in Tezos, and their value is linked to the original tokens”
What is the Signers Quorum or the Signers Quorum?
It is a group of trusted members of the Tezos community, which guarantees the stability of the Plenty bridge. “Those in the quorum interact with both the Ethereum and Tezos blockchains, and create transactions on the bridge based on user activity,” the task force noted.
The bridge starts with seven quorum members: Integro Labs, Codecrafting Labs, MIDL.dev, Baking Bad, Madfish, Tezos Ukraine, and Tezsure. Below is a description of each of them.
Integrated Labs: Famous on Tezos thanks to teztools.io and saving Hic et Nunc.
Codecrafting Labs: He developed Crunchy and also the NFT PFP on Tezos.
MIDL.dev: Infrastructure provider and prominent player in the Tezos community.
Baking Bad: He developed BCD, TzKT and Juster.
madfish: He created the Quipuswap and Temple wallet.
Tezos Ukraine: Support the growth of Tezos in Ukraine and Eastern Europe.
Texture: Developed Plenty, naan wallet and ctez.app.
A great adehsion for Tezos
Bernd Oostrum and Om Malviya, the co-founders of Tezos, were very happy with this new step for the company that bets big.
“The Ethereum bridge and upcoming chain bridges like Polygon, Avalanche and BSC are key to the growth of the entire Tezos ecosystem. More bridges allow users from other chains to easily migrate their assets and test all the innovation happening on Tezos”they stressed.
Tezos is a high-speed network with great payment processing power. In turn, its proof-of-stake (PoS) program prevents excessive electricity consumption. Its creators are very ecologically aware.
Tezos continues its expansion and this bridge could mean a takeoff for the network that has been working on a serious project for years.
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