Apex, a true Node-as-a-Service provider, will build a fully insured bridge from Avalanche to the XRP Ledger (XRPL), to go public by the end of August 2022. ApexBridge is fully insured by UnoRe, a decentralized insurance and reinsurance platform, and powered by Catoshi’s revolutionary Bridging Technology.
ApexBridge will facilitate a fast and safe transfer of XRP tokens from the XRP Ledger (XRPL), an open-source, public and decentralized blockchain, to Avalanche and other EVM (Ethereum Virtual Machine) networks. Apex and Catoshi will collaborate to ensure the bridges reach the highest possible standard. Before going live, ApexBridge will undergo thorough audits by UnoRe and Certik, plus extensive penetration tests via Halbourne. The bridge will be open to all DEXs and DeFi protocols through API kits to XRPL to ensure seamless integration of its dApps.
Catoshi’s bridges are currently using a lock/unlock mechanism with node scripts. At present, the bridges are more centralized (this is the safest way to ensure fewer vectors of attack). In phase 2, we will be using the highest standard technology to decentralize the bridge in the most efficient and safest manner. Decentralization cannot be taken lightly and the team will ensure that this process is thoroughly tested and developed. When decentralized, the safety of the bridge will be of the standard of the current centralized model.
“The tripartite partnership of Catoshi, Apex, and UNO is starting to make real waves in the space. It’s incredible to see all our hard work and graft coming to fruition, culminating in XRP’s integration. It really legitimizes our efforts having such an established project connecting with us. As one of the big 5 projects in the space we believe this partnership will help drive us to the higher echelons of success in this space,” Joshua, CEO of Catoshi