ViteBridge is our grand vision for a universal and decentralized cross-chain protocol. Today, we are launching ViteBridge 0.1 on the Vite Testnet. This marks the first milestone of achieving that grand vision.
Developing in phases, our plan is for each stage of ViteBridge to implement further decentralization of specific critical components, with the final form of ViteBridge allowing for fully decentralized and permissionless asset custody and cross-chain transfers.
ViteBridge 0.1, being the first deployable milestone in this progression, adds the following improvements over existing gateways:
The custody of original assets is shifted from single centralized custodians to multiple trusted custodians through the use of multi-sig wallets. This both improves security and acts as a stepping stone to adding threshold signature schemes (TSS) planned for future versions of ViteBridge.
ViteBridge 0.1 is now deployed on the Testnet of Binance Smart Chain, a major layer-1 supporting many popular tokens.
Our vision for ViteBridge will increase the safety of cross-chain solution on Vite, and pave way for growing total value locked (TVL) on the Vite network in the future. It will contribute to the decentralization of ViteX and bring more market participants into our ecosystem.
We are extremely excited about the Testnet launch and would like to invite our community to engage with the platform. There are two ways you could participate:
1. Follow the ViteBridge 0.1 Testnet Tutorial and test out the functionality.
2. Bug bounty on our code. More details here.
Have fun bridging!
ViteX Official: https://vitex.net/
Vite Forum: https://forum.vite.net
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