For the most part, they are kept separate from one other in order to facilitate inter-chain communication and the development of dApps and initiatives. Off-chain trades are made simple, quick, and safe via cBridge, the company’s asset bridge. Generalized off-chain smart contracts as well as payment transactions both fall under this category.
As part of the initial phase of Celer CBridge, tokens issued on Flow will be bridged by Celer CBridge so that Flow’s DeFi network may reach a wider audience. Celer will also back a wide range of cryptocurrency assets, including WETH, WBTC, and USDT, which will enable them to be infused into the Flow network.
On Flow, Dapper Labs is a major player. Basketball Topshot, CryptoKitties, and NFL All Day are all founded by them. Matthieu Jobbé-Duval, the company’s Chief of Financial Products, is ecstatic about the collaboration. “Celer cBridge’s implementation will enable dApps to connect their token across many chains at simultaneously, allowing them to optimize their impact as the Flow token network grows fast.”
Celer will facilitate NFT linking to extend Flow-issued NFTs, such as the abovementioned NBA Topshot, when the initial stage is complete. In addition, users will be able to draw in NFTs from elsewhere in the Flow network. RCRDSHP, a digital memorabilia portal for the music business, will be partnering with Celer as well.
Cheese inc., an NFT photography firm with a site for NFT picture galleries, will also be a part of the partnership. It will be the initial time that Flow and the many more than two dozen blockchains are connected via these two initiatives’ protocols.