ContractLand Shares Two New Services Terra Bridge and Terra Chain for Instant Cross-Chain Exchanges
ContractLand recently announced the introduction of Terra Chain blockchain protocol and Terra Bridge.
ContractLand is a framework designed to provide a fast and secure means of transferring assets between different blockchain protocols. It also serves as a decentralized cryptocurrency trading platform.
Terra Chain is a high-performance application-specific blockchain protocol that emphasizes scalability. It is different to existing DApp blockchains in that it focuses on one application domain instead of supporting arbitrary logic execution.
Additionally, Terra Chain operations of the proof-of-action consensus algorithm. The blockchain can comfortably handle up to 300 transactions per second. Because of the inbuilt on-chain order matching protocol, decentralized exchanges based on this mainnet can be entirely hosted on-chain. Such exchanges are renowned for their reliable security mechanism and resistance to government control.
The role of the Terra Bridge is to enable communication between different blockchain networks. It also facilitates the communication of smaller side-chains within a multi-chain blockchain protocol. For instance, this bridge can enable a user to transfer Bitcoin to Ethereum free of charge.
Similar to the Terra Chain, the Terra Bridge is decentralized and runs on the proof-of-action consensus. Thus, this bridge enables decentralized exchanges to run seamlessly on various blockchain protocols other than their native networks.