(Coindesk) Dfinity’s Internet Computer has opened an Ethereum bridge to facilitate cross-chain contract communication, asset transfers, and mirroring on the two chains.
The bridge, dubbed Terabethia, means that ERC20 tokens can exist natively on the Internet Computer network.
The bridge will also allow smart contracts of Internet Computer to hold Ether assets on Ethereum, including making calls to them.
The bridge paves the way for the upcoming Internet Computer integration with Ethereum, which is expected to boost liquidity for the users of the two networks in areas of decentralized finance and non-fungible tokens.
The Ethereum bridge comes when the Internet Computer token is down to about $27, from its $700 trading during May 2021 issuance. Alleged insider trading and exits by large investors have played a role in the plunge.
Launched this year with a focus on scalability, Internet Computer helps in the decentralization of web infrastructure, with its backers including Polychain Capital and a16z.
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