Injective Protocol announced on Monday September 13, through its Twitter account, that Injective Bridge is available and offers “perfect interoperability between chains”. In his opinion, users will be able to transfer assets through Ethereum and Injective, with low costs and, in addition, it will be “a future gateway to DeFi in Ethereum, Injective and Cosmos.
“Injective Bridge is now available on Injective Hub! You can now attach any ERC20 token to the Injection Chain using the cross-chain safe Peggy Bridge”, he said in an article posted on his website.
According to the company, the Peggy Bridge allows for ultra-fast transfers and is one of the cheapest solutions on the market today (average transaction cost of ~ $0.02 when a transaction takes place on the injection chain). All transactions are instantly confirmed due to the Tendermint-based Proof-of-Stake (PoS) consensus used by the Injective network.
As a bonus, the company noted that Peggy Bridge enables the fastest withdrawals compared to any other Ethereum scaling solution. Popular solutions on the market today typically take several days to retire, while Injective takes less than five minutes. Anyone can now benefit from Injective’s secure, high-performance, and fully decentralized network.
Similarly, he commented that the INJ-ETH bridge was designed with the end user in mind, so you will find a very intuitive user interface for transferring between chains. Many popular assets are already populated, but you can also add any custom ERC20 token address using the simple dropdown interface.
Some of the highlights of Peggy Bridge include the following:
• Easy to use – the entire bridging process can be completed with just a few clicks
• Ethereum Native – Use popular Ethereum tools like MetaMask when depositing and withdrawing from the bridge. Thanks to Injective’s key derivation mechanism, all Ethereum wallets will be supported!
• Fast lighting: transactions across the bridge only take a few minutes compared to days other solutions may take
• Low cost: Average transaction fees are around ~ $0.02
• Secure: transactions through the two-way bridge are secured by some of the best and most reputable crypto validators.
In addition, the company assured that the Injective Bridge will serve as a gateway to the innovative DeFi products that are being built in Injective, such as the exchange, relays, insurance funds, etc. Incentives are further amplified for developers to rely on Injective as they can use native Ethereum tools to access an entire Injective DeFi ecosystem while accessing the entire Cosmos network on top through IBC bridge integration. native that is about to start working. “This would allow Cosmos-based tokens to join Ethereum through Injective for the first time!”, he added.