cBridge, a multi-chain network that allows users to make instant and low-cost value transfers into Ethereum and its Layer2s, has recently announced that its total cross-chain transaction volume and assets bridged have surpassed $1B.
cBridge is a solution developed by Celer Network, a layer-2 scaling platform that brings fast, secure and low-cost blockchain applications on Ethereum as well as other blockchains to mass adoption.
Since cBridge was rolled out in July this year, it has experienced steady and rapid progress. In particular, it hit a daily peak of $25 million in assets bridged last November 17. According to the company, this recent growth might be the result of the introduction of layer two rollups such as Arbitrum and Optimism in the month of September.
Thanks to cBridge, the process of bridging operations is much cheaper in terms of gas fees than manual transfers.
Celer has recently launched cBridge v2.0 beta in order to accelerate blockchain adoption by expanding its bridging initiatives, which is going to connect Ethereum with other L1 chains, including Solana and Cardano, as well as more L2 platforms.
Dr. Mo Dong, Celer’s co-founder, said:
“Reaching $1 Billion in transactions is an amazing testament to the effort our team put into designing what we believe is the best cross-chain bridge. cBridge 2.0 is built to provide a much simpler user experience with a highly scalable and deep multi-chain liquidity management system to support billion-dollar daily cross-chain transfer volume for the entire ecosystem.”