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Allbridge, a reliable bridge infrastructure provider, has unveiled a groundbreaking cross-chain bridge, ushering in new functional compatibility within the Stellar ecosystem. This new bridge offers uninterrupted digital asset transfers between Stellar and other well-known networks such as Ethereum, Solana, Celo, and Polygon.
Seamless Multi-Network Asset Transfer
The newly introduced bridge to the Stellar network represents a purpose-built integration of Allbridge's existing bridge solution. It will empower Stellar users to safely and efficiently utilize assets across multiple blockchain networks.
Through strategic integration with both Ethereum Virtual Machine (EVM)-compatible chains and non-EVM-supporting chains like Solana, this bridge enables developers operating within the Stellar network to connect their decentralized applications (dApps) to other networks, thereby achieving a broader audience.
Andrey Veliky, Co-founder and CEO of Allbridge, stated, “At Allbridge, we aim to enhance cross-chain compatibility across various blockchain ecosystems. The latest integration with the Stellar network is the result of our hard work, meeting the expectations set by the Bridge Bounty program. With this new bridge, we provide countless DeFi users access to the Stellar ecosystem, allowing them to experience the extensive array of Stellar applications and services.”
Key Role of Ultra Stellar
Ultra Stellar, a pivotal player in the Stellar ecosystem with over nine years of experience, played a crucial role in integrating this new bridge into Stellar. The Ultra Stellar team provided vital support by offering engineering resources, hosting services, and continuing to offer transaction signing services for validators.
The ability to connect different crypto ecosystems will be pivotal as the DeFi capabilities of the Stellar network expand through Soroban, a smart contract platform on Stellar. With open-source development, ongoing expansion, and the potential for significant developer funding, those utilizing Soroban will gain new opportunities for innovation and the creation of locally accessible, globally relevant financial applications.
Unlocking Possibilities for Developers
Developers, builders, and entrepreneurs within major blockchain ecosystems now have the opportunity to seamlessly interact with the Stellar network and incorporate it into their platforms or development plans. To support this innovation, the Stellar Development Foundation (SDF) announced the creation of the $100 million Soroban Adoption Fund, which includes the Stellar Community Fund and grant programs spanning various disciplines. This initiative aims to encourage developers to harness the powerful capabilities of the Stellar smart contract platform, Soroban.
