Secret Network creates Plasm Network bridge on Testnet

Secret Network announced on Wednesday April 14, through its Twitter account, the creation of the Plasm Network bridge on Testnet, which, according to the company, provides another step towards connecting the worlds of Polkadot and Cosmos.

La imagen tiene un atributo ALT vacío; su nombre de archivo es Secret-1.jpg
Image about the Secret Network post on Twitter

Previously on its Crowdcast community, Plasm Network talked about building a bridge with the Secret Network that would begin to connect the worlds of Polkadot and Cosmos. Today, our teams are excited to announce that this bridge has become a reality on testnet!”, he said in an article posted on his website.

Plasm Network

The company explained that thanks to lead developer Hyungsuk Kang, Plasm Network has completed the construction of its bridge with Secret Network. This build begins on the Plasm Network testnet before being rolled out to the mainnet in the future. “Once the Kusama Network is ready, the bridge will be deployed on the Shiden Network, a sister network to the Plasm Network in Kusama. For the testnet implementation, Plasm Network will use the secret bridge (at the testnet level) to bring Plasm to the secret network and use it in SecretSwap, Secret’s first AMM, against SCRT and ETH assets”, he added.

In his opinion, Plasm developers will be able to move their assets to the Secret Network. The moment the Plasm Network becomes a parachain, the bridge will be implemented on the mainnet -Shiden Network first and Plasm Network later.

Also read: TrustSwap announced the launch of FlashDrop with Yield App

But what is its benefit?

According to the company, the greatest immediate benefit for users with this bridge is that they can obtain transactional privacy. Users, Secret Network noted, can convert Polkadot-based assets into Secret Tokens, which combine ERC-20’s scheduling ability with the privacy of coins like Zcash or Monero.

“Interactions with Secret Token contracts are encrypted and can only be viewed by the owners or holders of your display key. The bridge will also give users access to Secret DeFi, decentralized financial applications that preserve privacy built on the Secret Network, including SecretSwap”, he said.

And later?

Secret Network highlighted that after some extended testing on testnet, it will go live once Plasm becomes a parachain in Polkadot. “With the current EVM, we can also use this bridge between the Shiden Network and the Secret Network. This is great news for dApps creators who want to use Shiden (Plasm’s Canarian network) to implement their dApps”, he highlighted.

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