The Algorand Foundation has awarded Applied Blockchain a grant to develop the London Bridge, a trustless bridge that will connect Algorand with Ethereum.
In a press release shared with CryptoSlate, the Foundation said that the bridge will also enable Algorand’s integration with other blockchain networks and provide a significant influx of liquidity to the growing network.
Algorand’s liquidity challenges are about to be solved
Despite its low latency, high scalability, and low cost of transactions, Algorand has been struggling with attracting liquidity. With the majority of DeFi and NFT projects now in the Ethereum ecosystem, its’s users have been struggling with a lack of network effect.
To address this, the Algorand Foundation, a non-profit tasked with supporting the network’s development, has awarded a grant to develop a bridging solution that would connect the blockchain to Ethereum.
Applied Blockchain, a London-based software development company, has received the grant and
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