IoTeX Launches Solana Bridge

DePIN company IoTeX has launched its Solana Bridge, aiming to enhance interoperability between the IoTeX and Solana ecosystems. This bridge, leveraging IoTube Bridge Architecture, enables asset transfers and data sharing, fostering collaboration and broader engagement. With a recent funding round of $50 million, IoTeX is focused on accelerating ecosystem growth, following previous initiatives like W3bstream and ioTube to strengthen its position in the DePIN sector.

How Solana Bridge Works

The Solana Bridge by IoTeX connects the two major DePIN platforms, facilitating cross-chain transfers and expanding the reach of Solana DePIN projects. Utilizing IoTube Bridge Architecture, the bridge ensures secure transactions through a two-thirds witness signature consensus mechanism. It supports elliptic curve signatures for different transfers, enhancing interoperability and accessibility for both ecosystems.

Previous DePIN Projects

IoTeX’s latest development, the Solana Bridge, builds on the integration of W3bstream into the Solana ecosystem. W3bstream, a Layer-2 protocol for decentralized data processing, enhances scalability and performance by offloading data processing from the main blockchain. With a focus on data integrity and trust, W3bstream is valuable for applications like supply chain management and IoT, reinforcing IoTeX’s role as a central platform for DePIN and expanding its ecosystem.