Saw info on new project Snowbridge to bridge assets from

Question

Moonbeam & Moonriver Official

Dylan

Saw info on new project Snowbridge to bridge assets from

parachains to eth. But it seems like its just doing what Moonbeam already did with wormhole and axelar bridges?

#blockchain #cryptocurrency #english #moonbeam

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05.10.2023

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turrizt |NEVER DM YOU FIRST · Accepted Answer

yeap, I believe BridgeHub will be a game changer for the ecosystem, benefiting it as a whole. with it, we'll be able to bridge assets between Kusama <> Polkadot parachains. IMO, Snowbridge may not bring significant change since it's just another bridge that's emerging. It definitely needs to be battle tested to demonstrate its real value. for now, parachains can utilize Moonbeam's MRL feature to bridge assets from different EVM chains. Wormhole has already been battle tested. If you check the Uniswap report, you'll find both Axelar and Wormhole included. I'm uncertain how Snowbridge will alter the dynamics, but it's positive to see more options becoming available. projects within the Moonbeam ecosystem can choose their preferred bridge. they could potentially switch to Snowbridge if desired, but this might lead to fragmentation of assets and liquidity, having multiple bridged representations of assets within the ecosystem. however, this approach can also be seen as not putting all your eggs in one basket, thereby diversifying the ecosystem

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Saw info on new project Snowbridge to bridge assets from

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