SAN FRANCISCO--(BUSINESS WIRE)--The ContractLand core development team successfully developed a world-leading technology, where all ERC20-compliant tokens and Ether, can be transferred freely between Ethereum and Terra Chain. The team also announced that this technology would be advanced in a short term to support cross-chain transactions on other EVM-based public chains.
The ‘Terra Bridge’ technology is the key breakthrough for Decentralized Exchange (‘DEX’). It solves the two major problems of DEX. Current DEX lacks cross-chain transaction ability and only supports exchange of tokens issued on a single public chain, which leads to poor token liquidity. Secondly, the settlement of transaction is very slow due to performance limitations of public blockchains. With ‘Terra Bridge’, fast-settled and cross-chain trades could be achieved by transferring tokens issued on public chains to Terra Chain, where transaction processing is optimized.
“The completion of the Terra-Bridge is the first step in our vision to provide liquidity to digital assets globally in a decentralized manner. Building on this foundation, we look to add support for more networks such as Bitcoin and EOS to the bridge in our upcoming releases,” said Peter He, Co-Founder of ContractLand.
ContractLand aims to be a global provider for liquidity of digital assets, backed by Terra Chain, which is a high-performance blockchain developed by ContractLand for distributed transactions.
For more information, please visit ContractLand.io
About ContractLand
ContractLand aims to be a global provider for liquidity of digital assets. The core team of technology development consists of graduates from the University of Toronto, with Peter He leading the development efforts. Terra Chain is a high-performance blockchain developed by ContractLand for distributed transactions.