PlatON Cross-chain Bridge Update

Security and ease of use is one of the most talked aspect surrounding the crypto space, and yes this is a valid topic cause after all you are dealing with an industry that is worth more than a trillion dollar and rising. Individuals on daily basis interact with various protocols for various uses, some simply enjoy various yields by applying for a single asset stake or acting as liquidity providers while enjoying the juicy APYs that comes at the end of the day and this is all made possible with the help of smart contracts and capable developers who see the need to thrive for more and better performance and happy to say PlatON Network is one of the fews.

We have seen different types of project fold up, while others declaring bankruptcy over the past couple of months, with the major cause having to be security bridges and also mismanagement of community funds, the list goes on and while the entire space continue to look for means to curb this various acts, it all boils down to the various teams handling the said project. How interactive are they? Do they push new updates to existing softwares? Is the community and investors informed on the various happenings? Do they have a support team to answer to various queries when need be? These and many questions are asked on daily basis.

Prior to now we have discussed and extensively talked on some of the questions mentioned above and today we will be diverging into Cross-chain and what does this mean?

Cross-chain as the name signifies as to do with the movement from one chain to another, let's break this down further more, say you have a mobile set and you installed a particular game on it then the developers of the said game later made some additions and input by adding a cross-platform meaning the said game now support both mobile device and pc and users will be able to play together even though their device are not the same. This is similar to what Cross-chain brings and we are going to be talking on usdt and usdc as it relates to Cross-chain.

So PlatON Network is a network on its own meaning several projects needs it to run and based on experience and existing technology, most if not all usually develop their own token and in other to purchase any of this, individuals need to send fiat from their bank into the blockchain and this is one of many processes involve, upon receiving the desired amount, the next process would be how to move the purchased asset into the desired network in other to purchase the said coin and this is where Cross-chain comes in.

Cross-chain as to do with the movement of a said asset from one chain to the other via various DApps that have been developed over time, this is usually made possible with the help of liquidity providers who take the risk of providing their asset agasint other pairs with the potential of running at loss but again, with every risk comes a reward and this is accompanied by various APYs that rewards liquidity providers over time which in most time is worth the risk and more.

An example of a DApp that supports Cross-chain Bridge is Dipoleswap and this is available on PlatON Network.

To further improve it's performance, security, and ease of use, PlatON Network underwent an upgrade of its USDC and USDT contract and this was done on June 5th 2023, while also making preparations for existing users to easily migrate to the new contract or simply withdraw their asset which over they deem more favorable to them.

To read more about this upgrade then read the medium article here https://platon-network.medium.com/announcement-on-platon-cross-chain-bridge-update-14feda0c973f

If you have any question or input as it relates to the above then leave a comment or two below.