The bridge allows users to transact Ethereum native assets at faster speeds with lower cost and store them directly on-chain.
On Wednesday, Psychedelic, a Web 3.0 development studio building solutions for the Internet Computer, launched Terabithia, a cross-chain contract communication and asset mirroring protocol. Beginning with the Internet Computer (ICP) and Ethereum (ETH), users will have the ability to mirror and use any ETH tokens, fungible and nonfungible, on the Internet Computer blockchain and vice versa, effectively turning ICP into a layer-two scaling solution for ETH.The protocol attempts to tackle the problem of Ethereum network congestion and high gas fees. The Internet Computer, meanwhile, uses a „reverse gas model” where developers supply the funds needed to run the applications or contracts that use their gas, known as „cycles.”When asked about the technological capacities of the Internet Computer network,
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