Umbria Launches AVAX Cross-Chain Bridge Solution, Claims Tech Is 90% Cheaper Than Alternative – Technology Bitcoin News

The Umbria team announced Tuesday the official launch of the Narni cross-chain Avalanche Bridge. Umbria states that this bridge is 90 percent cheaper than the Avalanche-approved bridging solution. It allows users to send ether from the Ethereum blockchain to the Avalanche.

Narni Cross-Chain Bridge Adds Avalanche Solution

Avalanche’s price has risen 33.4% over the past week. AVAX also made it into the Top Ten Crypto positions by market capitalization this week. Avalanche has 169 protocols that defi with total value locked of $10.97 million. Avax value has increased, and Umbria Network revealed this week the Narni cross chain Avalanche bridge.

Cross-chain transfers between Ethereum and Binance Smart Chain or Polygon were already possible with the Narni bridge. Furthermore, Narni’s new bridge to Avalanche is cheaper than the official AVAX bridge. Umbria estimates that the transfer cost of Narni leveraging Narni costs $2.43, while $27.62 for the official AVAX bridge. Umbria’s estimated rate of 91.20% is cheaper. A Narni transaction takes three minutes, instead of 10 minutes with the AVAX bridge.

“Onboarding new crypto users to Avalanche can be difficult due to the technical challenges and knowledge required, the lengthy transaction times and the prohibitive costs. Our bridging protocol removes these barriers, which ultimately increases access to Avalanche projects from Ethereum,” Barney Chambers, the co-lead developer and founder of Umbria Network explained during the announcement.

Cross-chain bridge technology has seen a tremendous increase in the past 12 months. The aggregate value of cross-chain bridges using Ethereum amounts to $25.45 Billion. In addition, the TVL increased by 14.7% over the past 30 days. Dune Analytics data shows that Avalanche bridge metrics have $6.1 billion TVL. Polygon is the basis of Umbria, which offers both a decentralized exchange platform and a stake pool.

How do you feel about Narni’s bridge, which adds Avalanche support to cross-chain transfer? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for Bitcoin.com News, with over 5000 articles on disruptive protocols.