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crypto.news 2024-12-17 14:56:12

Nuffle Labs and Wormhole launch cross-chain restaking solution

Nuffle Labs, a universal restaking platform, and Wormhole, an interoperability protocol, have announced a new solution to connect different blockchain networks through native cross-chain restaking. This solution hopes to allow users to restake their assets without relying on token bridges, a process that often carries security risks. The integration uses Wormhole’s ( W ) messaging system and Nuffle Labs’ new Fast Finality AVS to enable secure interactions across various blockchain networks, according to a note shared with crypto.news from Nuffle Labs. You might also like: EU Parliament Member pushes for a strategic Bitcoin reserve and says ‘no’ to digital euro Restaking assets By incorporating EigenLayer’s restaking infrastructure, the system allows users to restake assets on any blockchain that supports Layer 1 (e.g., Bitcoin ( BTC ), Ethereum ( ETH )) or Layer 2 solutions (e.g., Polygon ( MATIC ), Arbitrum ( ARB )). This eliminates the need for users to move their assets between blockchains through traditional bridging methods, which are often prone to hacks. Restaking allows users who hold blockchain tokens to earn additional rewards by securing more than one protocol or service. For example, users can stake their Ethereum tokens to help validate transactions on the Ethereum network, and “restake” those same tokens to support additional networks or applications. “This is just the beginning for us,” said Altan Tutar, CEO and Co-Founder of Nuffle Labs. “By eliminating the risks associated with traditional token bridging, we’re enabling assets to be restaked from anywhere.” The blockchain sector has grown rapidly, with over 600 million users and a market value of $3.72 trillion in 2024, according to Nuffle Labs. This expansion has increased the demand for better ways to connect blockchain networks. Currently, more than 300 active blockchains operate independently, creating challenges for users who want to interact with multiple platforms. Nuffle Labs and Wormhole plan to launch a testnet in the coming months, enabling users to explore cross-chain restaking. Their goal is to create a system where assets can move seamlessly between chains, enabling activities like lending, borrowing, and restaking without restrictions. You might also like: Yeti Ouro sells out of stage 1 ahead of schedule, early investors enjoy over 40% gains

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