Long Beach (CoinChapter): Polkadot announced they will be introducing Bridges in order to connect blockchain networks within its ecosystem. According to the team, the highly-anticipated Web 3.0 will drive the internet to adopt decentralized blockchain technology.
As such, Polkadot will develop bridges to external networks. This will allow both cryptocurrency and blockchain enthusiasts to enjoy a fully decentralized network. Parity Technologies and Web3 foundation are the head developers of the project’s plans.
The Polkadot team stated that the main focus for developing bridges is to enhance blockchain interoperability and diversity. Along with the Web 3.0 rollout there are plans on connecting blockchains from its own networks to external ones such as Bitcoin and Ethereum. Bridges creates a common interoperable rule to ensure tokens or information is transferred fast and securely.
Web3 has already created multiple grant programs that birthed massive bridges within the ecosystem. These include the likes of Snowfork, ChainX, Interlay, and Bifrost. All of these programs will improve decentralized internet services. Additionally, they will connect blockchain networks as the goal of Polkadot is to create a multi-chain world.
Polkadot Also Plans To Introduce Bridge Modules & Contracts
Polkadot also plans to introduce bridge modules and contracts. These will create parachains that will serve as adaptors to external blockchain networks.
The modules include non-parachain blockchains that can either be integrated as an extension to the technology software or a community-controlled parachain. These modules will work as ‘virtual parachain networks’ that will tune the external blockchain’s operations to the Polkadot network’s benefits.
According to the team, the substrate-chain building framework will enable developers to create blockchains with its security and consensus. Parity Technologies are also developing an inter-connected bridge that will join several substrate-based chains together.
The bridge will entail a two-way communication network between Substrate-based chains and a Polkadot parachain. Additionally, the bridge will facilitate users’ interactions within the Polkadot network with those within the Kusama network.