We are excited to announce that the cross-chain NFT bridge developed by XP Network is now LIVE on the Elrond public devnet.
In its current implementation, the bridge allows NFTs to flow between test networks of Elrond, Ethereum, Binance Smart Chain, Huobi ECO (HECO) Chain, and the XP Network on Polkadot, with Cardano, Solana, Avalanche, and others soon to follow.
Once in production, the XP Network multi-chain bridge will enable NFTs to flow seamlessly between all the aforementioned mainnets.
Elrond is the bridge design partner for XP Network and the first non-EVM blockchain integrated into their NFT bridge. This achievement demonstrates that interoperability between Ethereum Virtual Machine-based chains and WASM-VM-based chains is not only feasible but already close to going live.
The integration makes use of cross-chain bridge smart contracts developed by Elrond and is an excellent test of their capabilities to handle token transfers. Once deployed on our mainnet they assets and liquidity to flow to and from the Elrond Network in a seamless manner.
Try the XP Network NFT bridge: https://bridge.xp.network/
You can read more about our collaboration with XP Network in our original post: https://elrond.com/blog/elrond-bridge-polkadot-xpnetwork-nft-dapps/
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
XP.network is a no-code NFT dApps creation platform. It allows creating an NFT marketplace, a lending app that uses NFTs as collateral, and much more. Launch NFT dApps on several blockchains or migrate it from one to another: all without writing a single line of code. XP.network is a Polkadot parachain, which means full interoperability plus cheap and fast transactions. XP.network will support 10+ blockchains, including Ethereum, Diem by Facebook, BSC, Binance, Solana, and Elrond.