What is Connext Bridge?
The Connext Bridge was rebranded from the xPollinate Bridge, which was initially launched in 2021. Connext is the underlying interoperability protocol behind the Connext Bridge, also known as the Non-custodial Xchain Transfer Protocol (NXTP). Connext was developed with the idea of maximizing trustlessness and extensibility while being less generalized; and thus is primarily targeting the Ethereum Virtual Machines (EVM) ecosystem, including the Layer 2 roll-ups and zero-knowledge protocols. One can think of Connext as an evolution of atomic swaps, but applicable for more generalized message transfer and limited to the same pegged/wrapped assets on the bridge.
What is required for transactions through the Connext Bridge?
Connext calls its protocol “locally verified” type, where a simple set of two counterparties verify each other. This negates the need for trusting external verifiers (as per some other cross-chain designs), while also being relatively simple to roll out to multiple blockchains, as long as all are EVMs.
Connext also claims that its design is very capital efficient, with testings showing millions of dollars in volume being routed with only a liquidity depth of less than a million dollars.
Currently, twelve EVM chains are already supported, with plans for another ten more.
How secure is the bridge?
- The Connext “locally verified” protocol is trustless, in the sense that their security is backed by the corresponding blockchains involved in the swap.