INTRODUCTION
Interoperability and multichain features are much needed in the blockchain industry today as more and more chains are developed as we head into blockchain mass adoption. Interoperability concerning blockchain technology aids in resolving the issue of assets and data interacting across several chains. When two parties utilize the same blockchain platform, such as Bitcoin, exchanging data and value digitally is a simple process. However, the same is impossible when the parties use different blockchain platforms. This is where platforms like BIFROST come in. They serve to bridge the gap between chains like the legendary Bifrost bridge in Nordic myths of Thor and Asgard.
WHAT IS BIFROST?
BIFROST started as a middleware platform that enables developers to create Decentralized Applications (DApps) on top of multiple protocols. BIFROST is not restrained to a single blockchain and creates a new environment where developers can combine the best protocols.
Through Bifrost’s multichain technology, DApps are faster, cheaper, more transparent, and more flexible. Developers can use BIFROST to develop a substantially more scalable and flexible DApp by selecting the target blockchain on BIFROST. For further reading, you can check out this very comprehensive and insightful article: https://medium.com/bifrost/everything-you-need-to-know-about-bifrost-8f8943107ace
BIFROST’S ECOSYSTEM AND TESTNET
BIFROST has a growing multichain ecosystem that is in its early stages but already boasts of several decentralized web3 products. BIFROST provides a flexible and seamless blockchain payment environment, a crypto asset custody and management service, and both deposit and lending services across multiple networks. These products are BIFI, BIPORT, BIFI X, and ChainRunner Q to mention just a few. Please refer to this article for details: https://medium.com/bifrost/everything-you-need-to-know-about-bifrost-8f8943107ace
Currently, BIFROST’S Incentivized testnet(BIT) is live with over 150 active validators. The testnet will run for 4 weeks with exciting and interactive tasks for participants while they run their nodes in the background. I am very grateful to be a part of this group we were selected from over 10,000 submissions. My experience so far running a validator node has not been easy but has equally been very educative.
CONCLUSION
The BIFROST Network is a fast and scalable EVM-compatible blockchain that provides an all-in-one environment for developers to build multichain DApps and is on a steady trajectory to becoming blockchain space’s go-to multichain platform for web3.
Official Links
Website: https://thebifrost.io/
Discord: https://discord.gg/G95ZqmNG
Twitter: https://twitter.com/BIFROSTio
