Cryptocurrencies

Developers Eye Mid-September for Ethereum, Polkadot Bridge Proof-of-Concept

(Denys Nevozhai/Unsplash, modified by CoinDesk)

“Protocol of protocols” Polkadot is weeks away from the release of the first viable bridge to the Ethereum blockchain, according to a Thursday announcement from developer house Snowfork. The bridge will roll out in phases and should be production-ready by March 2021. 

  • Phase one of three slated for release mid-September will include “a working demo of two-way transfer of assets [and] state from Ethereum to our testnet chain and in reverse,” Snowfork developer Aidan Musnitzky told CoinDesk in an email.
  • In a blog shared early with CoinDesk, Snowfork claims its bridge will be able to read Ethereum’s state trustlessly and vice versa. The team has identified two technical solutions to do so.
  • The project’s announcement follows the deployment of Polkadot’s Rococo parachain testnet on Aug. 6.
  • Snowfork itself is an “agency” of designers and developers who have previously worked on interoperability projects between Cosmos and Ethereum, the group said.
  • Polkadot’s native asset, dot, also recently became available for those who participated in the network’s multiple public and private token sales since 2016. Dot subsequently broke the top 10 cryptocurrencies list when weighed by market cap at $5.5 billion, according to CoinGecko.

Read more: Polkadot Releases Rococo, Its Test Environment for Interoperable ‘Parachains’

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