Taking the crypto industry in a storm with its robust cross-chain swapping protocol hub, Swingby has announced its partnership with Bluzelle, a decentralized data storage channel for DApps. The integration will boost the risk management standards of Swingby’s highly-anticipated Bitcoin to Ethereum bridge named Skybridge. The project is scheduled for a big launch on December 28 by the team.
As per the official statement, Skybridge has been designed as a decentralized protocol that will facilitate seamless movement of digital assets across multiple blockchains such as Bitcoin, Ethereum, and Binance Chain. The first bridge will go live on December 28 and help BTC investors move their assets to Ethereum via WBTC and vice versa. The service will boost the popularity of DeFi and help improve Bitcoin’s accessibility in the fast-growing DeFi market.
The data from oracle networks like Band or Bluzelle will help to keep the following issues away from the Skybridge channel:
The partnership with Bluzelle oracle will help Swingby’s Skybridge execute Bluzelle and Band Protocol services to benefit the users. This will eliminate the risk of central point of failure, correct redundancy, and increase the manipulation cost of ingesting data. The teams will look forward to exploring more real-life cases for the development of DeFi. The Skybridge solution will make DeFi easy, simple, and secure for new customers and projects planning to enter the field.
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