KEY TAKEAWAYS
- Chromia has completed significant upgrades to its bridge code, aiming to increase Total Value Locked (TVL) and expand asset support on its mainnet.
- The enhancements facilitate the integration of major assets like stablecoins, tokenized Bitcoin, and Ethereum, improving ease of integration and security.
- Chromia partnered with Quantstamp for a comprehensive security audit, ensuring the new bridge functions are secure and reliable.
- The complete audit report is available on Chromia Filehub, reflecting Chromia’s commitment to transparency and community engagement.
Chromia has announced the completion of significant upgrades to its bridge code, marking a milestone in its development roadmap. These enhancements are designed to increase Total Value Locked (TVL) and expand asset support on Chromia’s mainnet. The announcement was made here.
TVL, or Total Value Locked, is a crucial metric that measures the total value of assets within a decentralized application, protocol, or blockchain. It serves as an indicator of ecosystem health, reflecting user confidence and platform maturity. A higher TVL can attract more projects and users, fostering innovation and engagement within the ecosystem.
With the bridge enhancements, Chromia aims to integrate major assets such as stablecoins, tokenized Bitcoin, and tokenized Ethereum into its mainnet. The upgrade improves both the ease of integration and security, simplifying the process for developers to manage these assets within their applications. While the full impact may take time to materialize, this advancement is expected to enhance Chromia’s utility and support its long-term growth objectives.
Collaboration with Quantstamp for Security Assurance
In its commitment to quality assurance, Chromia partnered with Quantstamp, a leader in blockchain security, to conduct a comprehensive audit of the new bridge functions. Quantstamp, established in 2017, has a track record of safeguarding billions of dollars in digital assets and working with prominent entities in the Web3 space.
The collaboration with Quantstamp is based on trust and proven results. The firm previously audited Chromia’s core bridge functions and the FT4 Token Protocol, providing detailed insights and recommendations. The new bridge functions underwent rigorous review, ensuring that these enhancements are secure and reliable for the community.
Transparency and Future Prospects
In line with its transparency commitment, Chromia has made the complete audit report available on Chromia Filehub. This allows the community and developers to examine the new functionalities and the security measures implemented.
With the completion of these bridge enhancements, Chromia is poised to support a diverse range of assets and increase its TVL, driving the platform towards a more interconnected and robust ecosystem.
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