As you may have read my articles in the past, my methods of writing are straightforward, attempting to include more people, not just tech-savvy friends. I constantly look for ways to simplify complicated subjects in the crypto world for all my fellow readers, purposely trying to expand the audience's reach of the crypto realm. The cryptocurrency universe can be a frustrating dimension, especially for those far far away from nowadays maddening technology advances. The reality of Blockchain started relatively simple enough with Bitcoin behind the steering wheel, but soon enough everything became so tangled into various networks and overwhelming amounts of coins, tokens, NFTs, … each with a distinctive agenda and path. The fact that it is supposed to be uncentralized, but the same proud moment of quality adds to complications.

There are many avenues still in need of fixes or enhancements, but bridging across is the most urgent.

If I may, let us go back to the beginning of human civilization when it all started with creating roads and bridges. In this case, the whole point is to fashion a DeFi bridge, to not only improve the connection between blockchain networks, to also help them remain decentralized financing platforms.

Therefore, there is a need for a software protocol to expedite the transfer of crypto assets from one blockchain network to another or even several destinations. We wish for a liquidity connector that permits interoperability between DeFi platforms, an alternative solution to centralized schemes and KYC headaches.

Hence, a DeFi Bridge acts as an impeccable device to transfer digital assets among various reliable networks while protecting anonymity (without the KYC verifications) utilizing an on-chain non-custodial wallet, promising short waiting time for the transaction to happen with low manageable fees or better liquidity across different DeFi platforms. 

 Ethereum Layer 2 Solutions, Let’s Fix The Problem Attempts

As we mentioned in the last section, the Layer 1 blockchain lacked intractability, so it was time for producers to introduce Layer 2 as a secondary blockchain infrastructure. First, the Lighting Network emerged (a Layer-2 solution for the Bitcoin Blockchain) which became a pioneer for others like Polygon, the OPtimism, the ARBITRUM, the xDAI Chain, the Base, and the Aleph Zero.

To be honest it was a dream come true at the time and had many advantages for crypto lovers such as lower transaction fees, faster confirmations, scalability, improved privacy and anonymity, and also interoperability mostly introduced to promote cross-chain interoperability. But as it turned out, it wasn’t all sunshine and rainbows and some challenges emerged. As a matter of fact, safeguarding security was the main issue, mostly when interacting with the main chain. There were some vulnerabilities, and smart contract bugs. Not to mention it was risking the sacred decentralization factor. Plus it was very complex and it became hard for some users to keep up with chains and technologies. It didn’t pan out the way they hoped and it only handles a small fraction of the on-chain transactions.

In the meantime, the Layer-2 solution only serves a specific Blockchain Network. For example, we have one for the Ethereum network and another for Bitcoin, so in reality, the problem with bridging between different Base Networks wasn’t resolved.

The ACX Platform | Here comes Bridge Across With ACX

The biggest expectation with ACX protocol is DeFi Bridging, meaning transferring digital funds seamlessly from one network to another (such as sending money from Ethereum MainNet to Optimism or visa versa). A smooth ride of low fees, fast, & anonymous (KYC verification free) decentralized transactions through on-chain non-custodial wallets. The unique feature is ceaseless interoperability handled by intents (a unified interface for cross chain trade execution systems using the standardized ERC-7683 protocol created by Across Protocol & our well recognized Uniswap.)

Across Protocol in a Nutshell

As the latest cross-chain token bridge in the blockchain space, this protocol renders swift and safe interoperability between diverse blockchain networks, especially the Ethereum blockchain. The Across Protocol uses UMA's optimistic oracle for added security.

There is a single liquidity pool for capital and with ensured safety measures in place, with the help of UMA optimistic oracle, seamless, secure, fast, and cost-effective cross-chain transactions have been provided. UMA is a decentralized oracle intended to record massive data on the blockchain, with the exception of unverified ones. This oracle works like a lie detector, Its ability is to distinguish all types of data, assuming that false data will provoke disputes and make noises.

It works like this:

When a crypto user starts transferring assets through the Across Protocol Bridge, the relayers send the requested funds to the destination chain, yet rely on UMA's optimistic oracle to verify the order. They say it is like taking a loan while paying a small fee and the synchronism speeds up the work. UMA's optimistic oracle eliminates the on-chain validation requirement and according to the inventors, Across Protocol has a single liquidity pool and a competitive relayer landscape to optimize capital efficiency, while its coding is flawless and the whole operation is gas-efficient and safe.

P.S: Blockchain relayers are third-party services that facilitate the communication and transaction of data between different blockchain networks.

ACX Token | ERC-7683

The program has its own native token, ACX, to manage the protocol and keep the community motivated. It is an ERC-20 token and ACX holders can participate in the governance process as well as other advantages. Some of the common wallets for ACX tokens are: Metamask, Atomic Wallet, or MEXC Account Wallet.

Uniswap, Velodrome Finance, Coinbase, and Gate.io are some of the famous exchanges that already work with ACX tokens. Right now it is priced at $0.7387 yet there is a chance the price will increase.

There are so many exciting avenues to explore with Across V3, and the future of ACX seems promising. Standardized crosschain interoperability is really the next level. Another exciting part of this project, aka a standard crosschain token called ERC-7683, a co-developed standard token by Across Protocol and Uniswap Labs that supports seamless interoperability between Ethereum mainnet, L2 chains, rollups, appchains, and sidechains. The ERC-7683 token facilitates Defi tasks for users such as cross chain Intents, token swaps, NFT transfers, and crosschain deposits. If we get into it, may take a while to explain to its core, but there are many thrilling progress that may even reshape the future of crypto.

To Sum Up

You have to admit, that not everything about the decentralized network of Ethereum is appealing especially the unfair gas fees that sometimes make you forget about the whole transaction in the first place. And like everyone else I had my fair share of problems while transferring money,  waking up in the morning, and checking GWEI in Ethereum Gas Tracker to find a sweet minute to lose less money to gas fees. All I’m saying is if we could rely on a trustworthy, fast, and inexpensive method of DeFi bridging like the Across Protocol (ACX) platform, it’s a huge deal.

To summarize, BridgeAcrosswithACX has come with the following benefits for the Ethereum ecosystem:

• Uninterrupted interoperability (Using intents with the help of standardized ERC-7683 protocol)
• Bridging networks and a joint platform to synchronize fragmented Defi systems
• Fewer transaction fees
• Speeds Up transfer execution
• Substantial liquidity is available
• Anonymity of the transaction

Not to mention:

• OPtimism & Arbitrum reward programs

Premium DeFi staking on the in-house DeFi pools.