What is Blocto?

Blocto is a cross-chain ecosytem that was created with the mission of bridging the gap between different blockchains. Imagine that you can now manage all your assets including your tokens or your NFTs across different platform – especially in just one place. Blocto can offers developers identity and payment service so they can easily work on without any barriers. With the state-of-the-art technology, Blocto aims to become the best crypto all-in-one platform to serve not only DeFi space but also the whole crypto industry. There are some critical problems with crypto wallet at this time, that is the reason why crypto wallet is one of the main products Blocto heavily focuses on.

Introduction

What is cBridge?

Similar to Hop Protocol, CELR cBridge is also a Liquidity Provider assisted Bridge that helps in Cross-Layer Transfer. But unlike Hop Protocol, cBridge doesn’t need to mint “synthetic tokens” (such as Hop tokens in Hop Protocol). Both Hop protocol and cBridge ensure L1↔L1 transfer and L2↔L2 transfer immediately(assuming the bonder/Liquidity Provider is willing to serve the request) from the user’s Point of view.

1. cBridge at its core consists of multiple Relay nodes and cBridge contracts.
2. The relay nodes provide liquidity for cross-layer transfer by charging a fee. The list of available nodes is updated here.
3. cBridge contract helps the user and the relay node to interact with each other trustlessly. It is made possible with the help of HTLC (Hashed TimeLock contract) based implementation of cBridge contract.

• From this graph we can conclude that the blocto bridge is more useful than the cbridge. Also we can see that cbridge supports more blockchains, but still blocto is more common among users: 727 transactions in blocto for ethereum blockchain vs 381 on cbridge and 255 for BSC on blocto vs 25 on cbridge. Although other blockchains are not as prevalent on cbridge, blockchains like Fantom, Polygon, Kava, etc. have only 2-3 transactions

• Here we can see that on both bridges, users are withdrawing tokens more FROM the FLOW blockchain rather than entering them INTO the blockchain

Several conclusions can be drawn from these two graphs:

• If the three most common tokens that users input/output through these bridges are: RLY, Blocto Token (BK), TeleportedTether Token (TTT).
• And the latter two withdraw more from the FLOW blockchain than they do input.
• RLY token is the most interesting for users. And for users in the FLOW network. 30M FLY amount injected vs. 1.4M outbound. And by the number of transactions we get a different picture: 300 transactions for output and 10 times less transactions for input

You can see that users of different bridges support different I/O tokens. So for the blocto bridge users use:

• TTT
• TeleportedSportium Token
• Starly Token
• REVV
• FlowToken
• Blocto Token

For the cBridge:

• RLY
• AVAX
• BNB
• BUSD
• FTM
• MATIC
• USDT
• BTC
• ETH