Impel's R3 Corda | XDC Network Bridge

To access Impel's R3 Corda | XDC Network Bridge click here to request for access.

What is a bridge?

Blockchain protocols and other related distributed ledger technology platforms tend to be silos to themselves, unless a software bridge is created to connect the two platforms, so digital assets can be moved back and forth allowing for interoperability.

101 Blockchains does a deepdive into blockchain bridges with there article titled "What Are Blockchain Bridges And How Do The Work?".

What is the XDC Network?

The XDC Network is an enterprise-grade, EVM-compatible Layer 1 network equipped with interoperable smart contracts. A highly optimized, bespoke fork of Ethereum, the XDC Network reaches consensus through a delegated proof-of-stake (XDPoS) mechanism, which allows for two-second transaction time, near zero gas fees, and over 2,000 transactions per second (TPS). Secure, scalable, and highly efficient, the XDC Network powers a wide range of novel blockchain use cases. Learn more at https://xdc.org

Impel's CEO and Founder Troy S. Wood wrote a deepdive article called Everything you need to know about the XDC Network, a quite helpful and informative write-up that paints the big picture of the network and its ecosystem.

Who is R3 and what is their Corda platform?

R3 exists to help organizations shape the future of regulated markets by leading the future of digital finance by powering multi-party solutions that deliver digital trust and unlock greater potential for regulated businesses everywhere.

The R3 team first developed Corda - a purpose-built, private DLT platform that is not only sustainable by design, but has facilitated hundreds of networks across financial services. Building on Corda’s success, we then launched Conclave, a confidential computing platform for secure, multi-party data sharing that works with or without Corda.

R3’s Corda is a scalable, permissioned peer-to-peer (P2P) distributed ledger technology (DLT) platform that enables the building of applications that foster and deliver digital trust between parties in regulated markets.

Impel's R3 Corda | XDC Network Bridge

Impel’s R3 Corda bridge provides not only interoperability, but a settlement vehicle for making payments on contracts and settling debt obligations. Rather than using traditional banking systems that take much longer to process payments, entities can settle in seconds using digital assets via Impel's bridge to Corda's CorDapps (Corda Distributed Applications).

The bridge allows digital assets "cryptocurrency" such as a stablecoin like Fathom FXD or other digital assets like XDC, the native coin to the XDC Network to move from the XDC Network's public blockchain to R3's private DLT platform.

With this unique bridging technology, data can be recorded privately on the Corda platform, while limited data sets are transferred to the public XDC Network's blockchain DLT, thereby mitigating institutional risk, and turning Corda into a hybrid network. By extension, this shared ledger will connect the XDC coin and XRC-20 tokens (Layer 2 projects) with every other Corda CorDapp on their private network platform.

To access Impel's R3 Corda | XDC Network Bridge click here.

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