With Celer Network’s competition (lately Binance Bridge) dropping off, Celer is poised to become the dominant crypto project. See what Joseph G Edwards has to say about it.
Celer is a layer-two scaling solution that aims to bring blockchain technology to the mainstream by eliminating the roadblocks facing other blockchain projects. These roadblocks include scalability, complexity, and unreasonable transaction fees which many Ethereum users are currently suffering from. Celer is a massive project, and to cover the entirety of it, we would need a series of articles. This is why we will be focusing mainly on one of its most used products that is only about to become more important, Celer’s cBridge.
The Binance Bridge developers have announced on their web page that the service will be discontinued starting from the 25th of this month. They have given other alternatives for users who rely on the bridge to move their assets between blockchains, Mainly Ethereum and Binance Smart Chain. Binance is currently the third biggest blockchain coming right after Ethereum according to Coingecko. Both blockchains hold a lot of value worth billions of dollars. Users will be looking elsewhere for a way to bridge their assets. This is where Celer comes in.
As a trader who constantly moves assets between different EVM-Compatible blockchains, I find myself keep coming back to Celer’s cBridge. There is simply nothing better out there to compare it with. The ease of use, the UI, the stability, and the speed at which transactions are processed are simply unmatched. I might seem bias towards the cBridge, but there are a billion reasons why my claims are valid.
Celer’s cBridge is currently processing around one billion in volume on daily basis. A figure which only seems to increase especially, since that the Binance bridge is shutting down in the coming days. Currently, the cBridge supports over 7 different EVM-compatible blockchains with over 640 billion total value locked on them. Which gives Celer the potential of becoming the Suez Canal of crypto.
Conclusion, Celer’s cBridge is a killer product that is enabling the internet of value to communicate with its different factions. The volume being transacted through it is increasing on daily basis and will only continue to do so, with other competitors shutting down. This positions Celer as the main hub for cross-chain liquidity movement and furthers its role and significance as a layer-two scaling solution.
Via this site
