pNetwork, a cross-chain composability system that allows assets and Non-Fungible Tokens (NFTs) to move freely between blockchains, has officially partnered up with Algorand, the pure proof-of-stake blockchain focused on the convergence between decentralized and traditional finance, to launch cross-chain bridges for the Algorand ecosystem.
pNetwork has received a grant from the Algorand Foundation for creating a pNetwork-powered bridge for Algorand to be connected with external assets and ecosystems. As the cryptocurrencies industry continues to evolve, the development of alternative financial platforms is on the rise. A critical component for these to succeed is assets’ liquidity, which in the decentralized scene is currently spread across multiple independent blockchain protocols. Similar to all blockchain-based networks, Algorand sits within its own ecosystem, natively difficult to interoperate with other protocols and assets such as Bitcoin or Ethereum.
pNetwork’s PNT-powered pTokens bridges are designed to solve this very problem: they provide a general-purpose, simple and secure foundation to make token movement across blockchains possible.