Bridge 3.0 Brings a Deeper Integration With the AllianceBlock Cross-Messaging Protocol
Early last year, the Bridge integrated the AllianceBlock Cross-Messaging Protocol and enabled NFT Bridging. With today’s version 3.0 release, AllianceBlock Bridge introduces the migration of the ERC-20 bridge to the protocol and refinements to the user experience in bridging ERC-20 and ERC-721 tokens on the platform.
Check out the latest 3.0 update at https://alliancebridge.io!
Highlights
- Bridge 3.0 introduces several new changes, including migration of ERC-20 token bridging to the AllianceBlock Cross-Messaging Protocol, bridging of NXRA tokens, payment of fees in network-native tokens, and several UX improvements.
- The Cross-Messaging Protocol is a chain- and data-agnostic base layer protocol that allows for transmitting any type of data. The protocol enhances the Bridge’s functionality and enables greater interoperability for AllianceBlock solutions.
- Future developments include support for ERC-1155 tokens, non-EVM networks, auto-claim functionality, and an updated Bridge SDK for developers to utilize the Cross-Messaging Protocol in their applications.
Since the initial release in 2021, the vision for the AllianceBlock Bridge has been to make it easier for blockchain builders to adopt a cross-chain strategy and enhance interoperability across different networks for their solutions and platforms. The release of the AllianceBlock Cross-Messaging Protocol in 2022 enhances the Bridge’s functionality by introducing NFT Bridging, which allows users to bridge ERC-721 tokens across the supported networks. The Bridge also steadily added support for eight networks, including Ethereum, BNB Smart Chain, Polygon, Avalanche, Energy Web, Optimism, Moonbeam and Arbitrum.
Today’s Bridge update introduces many enhanced functionalities and opens the doors for enhanced flexibility for future interoperability upgrades, including support for more token standards and networks.
What’s New on Bridge 3.0
ERC-20 Bridging Through the Cross-Messaging Protocol
The Bridge’s initial design included ERC-20 bridge contracts deployed on all supported networks. These contracts handled the locking, burning and minting of tokens and sending messages to each other that the bridging request was eligible and valid. For further decentralization, the Bridge also utilized the Hedera Consensus Service for the validators, which validates and signs the bridging requests between the networks.
The Cross-Messaging Protocol is a chain- and data-agnostic protocol that allows transmitting any type of data or metadata across the networks it is deployed on. The protocol acts as a cross-chain messaging base layer on which a dApp can build on top of to support multiple networks in their applications. The ERC-20 and ERC-721 bridge contracts will now only handle locking, burning and minting bridged tokens, with the Cross-Messaging Protocol managing the transmission and sending of messages across networks. The protocol works with the Hedera Consensus Service for the validators to ensure that the data and metadata sent between different blockchain networks are validated and signed.
This integration unlocks a wealth of possibilities for the AllianceBlock Bridge, allowing any token standard to be bridged across multiple supported networks in addition to ERC-20 and ERC-721 tokens. This also makes it easier for the Bridge to support more networks, including non-EVM-compatible ones, in the future. Wherever the AllianceBlock Cross-Messaging Protocol can be deployed, the Bridge can support bridging tokens to and from that network.
Bridging NXRA Tokens
This update to the Bridge also supports bridging the AllianceBlock Nexera Token (NXRA) across the eight supported networks. The NXRA token is the utility token across the AllianceBlock ecosystem and is deployed on all networks using the same contract address. The new Bridge platform design enables this flexibility, making it easier for users to verify using the correct NXRA tokens across the networks currently supported.
Fees in network-native tokens
This update also introduces support for network-native tokens used as fees for Bridge transactions. Users can now use the native token on the source and destination networks to initiate bridge or claim transactions.
For example, if you’re bridging an ERC-20 token like NXRA from Ethereum to Arbitrum. When initiating the bridge transaction on Ethereum, users only need NXRA and ETH to make the bridging request. On Arbitrum, you only need ETH (on Arbitrum) to claim the NXRA tokens. This makes it more straightforward for users when bridging their tokens across networks.
Automatic refresh on the claims page
After initiating the bridging transaction from the destination network, users are automatically led to the claims page. When switching to the destination network, the claims page will automatically refresh to check for new claims. Users can now easily see whether their bridged tokens are available for claiming, provided standard bridging transaction times.
The Interoperability Potential of the AllianceBlock Cross-Messaging Protocol
The AllianceBlock Cross-Messaging Protocol envisions introducing greater interoperability for AllianceBlock Bridge, all solutions within the AllianceBlock ecosystem, and beyond. At its core, the protocol allows transmitting data and metadata across different blockchain networks, including bridge transaction requests, messages, etc. For greater decentralization and added transparency, it continues to use the Hedera Consensus Service for the validators, who observe, validate and sign the transmission payloads between the networks.
The protocol is chain-agnostic, which means it can be deployed on different blockchain networks, including EVM and non-EVM-compatible ones. As mentioned, it is also data-agnostic, meaning there is no restriction on any data or metadata payload it can process. As long as platform dApps and smart contracts are deployed on both the source and target networks that can encode, decode, encrypt or decrypt and package these into a payload, the protocol can transmit and run them by the validators and deliver them to their intended destination.
In simpler terms, it can be compared to a highway bridge. The highway road itself is the AllianceBlock Cross-Messaging Protocol, the source and destination networks are on the opposite sides of the bridge, the platform dApp contracts the senders and receivers of the packages, and the validators are the toll networks. The data are any kind of package vehicles that passes through. The messages can be encoded like motorcycles or encrypted like delivery trucks where their packages are secured. The validators then act as the toll network, which would note and sign off on passing the vehicles across the bridge, and only the senders and receivers can seal or open the packages.
For the Bridge, this means that in addition to the current EVM-compatible networks it supports, it can support bridging to non-EVM ones in future releases. It can also add support for more token types and specifications in addition to ERC-20 and ERC-721 tokens. Utilizing the Hedera Consensus Service for the protocol also adds a level of decentralization, security and privacy, as validators can know when other validators signed a transmission but don’t need to know the contents of the payload or even who the other validators are.
For the AllianceBlock ecosystem, this is important, especially since the introduction of the AllianceBlock Nexera Protocol and MetaNFTs, which heralded the next era for all AllianceBlock solutions and protocols. The flexibility of the Nexera Protocol will allow for greater interoperability across AllianceBlock solutions and power new use cases that were not possible before or were too complicated to develop. MetaNFTs are NFTs that act as a data container and introduce mutable, composable and extensible data and metadata. As the AllianceBlock Cross-Messaging Protocol can transmit data and metadata, it is a strategic development to enable the bridging of MetaNFTs in future releases. Nexera Protocol and the Cross-Messaging Protocol will enhance AllianceBlock solutions’ interoperability and make it easier for builders, developers, and users to participate in the AllianceBlock ecosystem.
AllianceBlock MetaNFTs will serve as a digital passport for the whole AllianceBlock ecosystem, containing properties like reputation points, liquidity positions, etc. And with Nexera ID’s identity verification functionality, zero-knowledge proofs (ZKP) for verified credentials and encrypted KYC reports can even be attached to a MetaNFT.
For example, in the future, users can participate in Fundrs capital-raising rounds regardless of where they have staked their NXRA tokens. A Seeker project going live on Arbitrum can let Funders who staked in Ethereum, Polygon or Avalanche participate in their round. If the Seeker project requires verified KYC reports, Funders who already underwent KYC on Avalanche can use their MetaNFTs to participate and comply with this requirement.
This cross-chain flexibility makes it easy for businesses and users in the ecosystem to utilize AllianceBlock solutions and platforms while supporting multiple networks and relying on a decentralized network of validators through the Cross-Messaging Protocol without thinking about it.
The benefits extend beyond the AllianceBlock ecosystem, especially for builders and developers who build on top of the AllianceBlock Cross-Messaging Protocol for their solutions and platforms. Builders can quickly build solutions supporting multiple and different blockchain networks, both EVM and non-EVM, for a cross-chain strategy. Developers can also easily adopt the Cross-Messaging Protocol using the upcoming updated Bridge SDK, relying on the protocol as a base layer to transmit arbitrary messages to and from multiple networks.
The Cross-Messaging Protocol brings unprecedented user-friendliness and improved user experience for builders, developers and users alike who can build, develop, and participate across multiple networks more quickly, easily and seamlessly.
What’s Next
Integrating the Cross-Messaging Protocol into the Bridge is ongoing, with future deployments introducing support for bridging ERC-1155 tokens. ERC-1155 tokens build on top of ERC-20 and ERC-721 token specifications, with the added capability of representing multiple tokens simultaneously, which can be fungible or non-fungible.
The Cross-Messaging Protocol will also support non-EVM networks such as Solana and Starkware, allowing for bridging ERC-20, ERC-721 and future token specifications to those networks.
An auto-claim functionality is also in development for ERC-20 and ERC-721 tokens, which means tokens on the destination network are automatically claimed and sent to the user’s wallets. The Bridge contract on the source network will compute and process fees for claiming on the destination network. This functionality removes a second step on the destination network for users, making it easier for them to receive their tokens when bridging.
AllianceBlock will also release an updated Bridge SDK for developers, which includes the Cross-Messaging Protocol. The updated SDK will allow developers to utilize the protocol as a base layer for building cross-chain platforms and applications and take advantage of its chain- and data-agnostic messaging functionality.
The version 3.0 release of the Bridge is just the beginning of how the AllianceBlock Cross-Messaging Protocol will be integrated into the platform and across AllianceBlock’s solutions. With the Cross-Messaging Protocol’s flexibility, AllianceBlock is well on its way to promoting greater interoperability across our end-to-end solutions infrastructure and unlocking more possibilities for our ecosystem, partners and clients.
About AllianceBlock
AllianceBlock is an infrastructure provider for decentralized tokenized markets. It empowers businesses with liquidity provisioning and allows them to compliantly issue, manage, and trade tokenized, digital assets including real-world assets (RWAs).
The AllianceBlock ecosystem of partners, clients, and ventures consists of top stakeholders from the financial industry, as well as the decentralized finance (DeFi) sector. Their unique product suite complies with global regulations and seamlessly integrates with legacy systems.
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