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Celer Network Unveils cBridge 2.0 Testnet

UTC by Steve Muchoki · 2 min read
Celer Network Unveils cBridge 2.0 Testnet
Photo: Unsplash

With the new cBridge 2.0 testnet, Celer network users can expect more features including updated liquidity management services.

Celer Network, a layer-2 scaling platform, has today launched its cBridge 2.0 testnet. cBridge is a multi-chain network that helps users transfer digital assets at low cost and lightning speed across the Ethereum ecosystem. 

With the new cBridge 2.0 testnet, Celer network users can expect more features including updated liquidity management services. Additionally, users can expect to get a simpler experience with the testnet than the initial one. 

“In the first phase of cBridge 2.0, Liquidity Providers (LPs) no longer need to run a cBridge node. LPs can easily delegate their liquidity through the shared pool and allow Celer State Guardian Network to use,” the company noted in a blog post.

Further, the new cBridge 2.0 testnet just unveiled will offer an integrated liquidity mining farming experience to users. A better way for users to start farming without any additional steps of staking LP tokens.

In a bid to ensure a successful pathway towards the mainnet launch in the near future. Celer network has announced a $4000 feedback and bug bounty reward program. Moreover, cBridge 1.0 could not have surpassed the $500M total cross-chain volume without the feedback from users.

“To show our continued appreciation, we launched a $4,000 campaign and will select the best 20 feedbacks every week for the next two weeks and will reward each selected feedback provider with a $100 reward. Winning feedback and winners will be announced in a weekly summary blog and shared how we intend to improve based on the feedback!” the company further explained.

cBridge 2.0 is ostensibly a stepping stone towards the result, a seamless mainnet without security flaws. Moreover, cross-chain protocols have been breached recently by attackers who exploited weak security systems. Just to mention, the poly network was compromised, whereby the hacker siphoned nearly $1 billion in digital assets. However, the attacker was human and returned poly network customers’ money.

To avoid instances of system compromise, the firm has hired three different auditing companies. “Although smart contracts are not the only mission-critical component in multi-chain systems, it does not mean it is not important. To that point, we have partnered with three top auditing firms to run independent auditing for the smart contract components of cBridge 2.0,” the company noted.

During the testnet period, the firm has scheduled several features for users to experience. Among them is the upgraded SGN web app to help validators and stakers manage their operations.

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Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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