Umbria Network takes a lead in blockchain interoperability
LONDON , Nov. 22, 2023 (GLOBE NEWSWIRE) -- Google search data compiled by Online Blockchain plc (LSE:OBC) highlights a surge in interest for transferring cryptocurrencies to different blockchains since the start of October.
As crypto enthusiasts actively seek cheap and fast methods to ‘bridge’ assets across diverse blockchains certain search terms involving specific networks and assets have dominated Google queries and flagged Umbria Network (https://umbria.network/) as a leading solution.
The following are the most popular searches:
1. BSC to ETH Bridge
2. Bridge BSC to ETH
3. Polygon Bridge
4. BNB to ETH Bridge
5. Bridge BNB to ETH
6. Matic Bridge
7. ETH to BSC
8. BSC Bridge
9. ETH to BSC Bridge
10. BSC ETH Bridge
A notable trend is the interest in bridging between BNB Smart Chain (BSC) - previously Binance Smart Chain - and Ethereum (ETH). Crypto users are persistently searching reliable solutions to facilitate the smooth transfer of assets between these two prominent blockchain networks. Additionally, the search interest in Polygon and Matic bridges underscores their desire for scalability and cost-effective transactions. As the crypto community continues to expand and diversify, the demand for blockchain networks beyond Ethereum has increased. This shift underlines the growing prominence of interoperability solutions – bridges - as users look for efficient and cost-effective interaction across a spectrum of blockchain ecosystems.
Narni uses a novel liquidity provision protocol to greatly decrease the cost of transferring funds between chains in comparison to traditional validator-driven mint/burn, lock/unlock bridges. It also offers a remarkable improvement in speed-to-finality for cross-chain asset bridging. Additionally, there is no slippage. The bridge’s cost-effectiveness and speed alongside its simple interface improves the user experience and lowers the barrier to entry for engaging with DeFi applications making them much more accessible to a wider audience. Umbria’a Narni bridge uses crowd-sourced liquidity to facilitate bridging of cryptocurrency assets across chains and generates fee-based rewards to liquidity providers as an incentive for their liquidity provision. Online Blockchain acts as advisor, administrator and co-ordinator for the project.
“Umbria Network's Narni bridge emerges as a central player in the space, tackling blockchain interoperability challenges head-on and gaining attention for its fast and cheap cross-chain transactions,” said Clem Chambers, CEO of Online Blockchain plc. “We believe that with this bridge we are in a great position to contribute to the overall growth and maturation of the cryptocurrency ecosystem.”
- ends -
About Umbria Network
The Umbria Network Narni bridge is a capital-efficient, multi-chain asset bridge that enables the cheap and fast bi-directional bridging of crypto assets between the Ethereum Mainnet and a range of EVM-compatible blockchains (Polygon, Avalanche, Arbitrum, Binance Chain and Optimism).
It uses a novel liquidity provision protocol that greatly decreases the cost of transferring funds between chains in comparison to traditional validator-driven mint/burn, lock/unlock bridges. It also offers a remarkable improvement in speed-to-finality. The bridge facilitates cross-chain migration of assets by simultaneously holding multiple assets on multiple chains in liquidity pools.
The Narni bridge generates fee-based rewards to liquidity providers as an incentive for liquidity provision. There is no lock in period (assets can be unstaked at any time) and no impermanent loss.
Umbria Network won ‘Cryptocurrency Platform Provider of the Year’ in the MoneyAge Awards 2023 - https://moneyage.co.uk/awards/winners23.php
About Online Blockchain Plc
Online Blockchain PLC (LSE: OBC) is a UK-based incubator driving cutting-edge research and development in internet and information-based technologies for the next generation of customers. Established in 1996, OBC has remained at the forefront of the internet evolution, incubating successful online games and creating ADVFN, the leading global financial news platform for retail investors, listed on the London Stock Exchange. Led by a visionary team with over two decades of pioneering experience in technology, Online Blockchain focuses on technical innovation in the blockchain and AI space. The company's notable achievement includes the creation of Umbria Network, a widely acclaimed cross-chain bridge for digital assets.
For more information, visit: https://www.onlineblockchain.io
CONTACT: Francesca De Franco PR Consultant Online Blockchain plc 07941253135 francesca at onlineblockchain.io
