.FlareNetworks unveils next-gen blockchain interoperability solution LayerCake: details Flare $FLR
to cover the design of the upcoming system and the opportunities it unlocks for DeFi and Web3 as a whole.
LayerCase will bridge blockchains with an ecosystem of bandwidth providers."Wrapped" asets will initially be minted on Flare blockchain itself and then broadcasted to"target" networks.These bridges will not hold users' money while every deposit to them will be fully"insured" as bandwidth providers will be required to stake liquidity in the volume that matches the maximum capacity of their chains.
As such, LayerCake infrastructure would allow seamless value transfer between all kinds of heterogeneous networks: Solana , Ethereum , Cardano and so on.First, as explained by Mr. Philion, this design would allow bridging systems to be decentralized and fast at the same time. Typically, decentralized systems work far slower than their custodial analogs.
For the first time in the history of Web3 bridging ecosystems, the blockchains will be interconnected by 100% insured systems: this would eliminate the possibility of hacks and attacks. Last but not least, with this concept, the bridging ecosystems will be scaled linearly, not quadratically to avoid scalability and interoperability bottlenecks.
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