Etherlite Bridging More Blockchains

Ethereum may be one of the most popular blockchains in the world, but it’s far from the only one. EtherLite is a recently launched Ethereum fork that attempts to address some of the issues affecting mainnet performance, such as Slow and expensive transactions. ETL is the newest native blockchain token, and the price has yet to catch up as it has depreciated by 30% in value in the past 30 days. Meanwhile, the price of Ether, the native cryptocurrency of the Ethereum network, is currently a significant physiological milestone for the second largest cryptocurrency, despite the current 5 leanings.

Blockchain Bridge

While Ethereum is moving from a Proof-of-Work (PoW) model to a Proof-of-Stake (PoS) consensus algorithm, EtherLite has chosen the Getgo-Stake approach. Its users are already deploying ETL rewards that they can withdraw on a frequent basis weekly. It is designed for interoperability and is compatible with the Ethereum network. However, EtherLite does not want to stop there and is also considering bridging other blockchains. Blockchains are usually set up in isolation and a bridge enables different networks, for example Ethereum and EtherLite to interact with each other, for example to move tokens or smart contracts.

In a recent Bitcoin.com podcast, EtherLite head of communications, Jean Auditor, discussed the project’s roadmap. She said that EtherLite is “not trying to kill off other blockchains” and instead is interested in offering “alternative blockchains.”

The way that the EtherLite team sees it, more blockchains translates to less congestion on these networks. Besides, users tend to have biases toward their favorite blockchain anyway, Auditor said. She added that EtherLite will be able to bridge to more blockchains, making it easier for their users to use ETL on multiple blockchains.

According to the EtherLite Twitter account, the blockchain has supported more than 70,000 transactions so far. The project is slowly but surely gaining popularity. Most recently, the cryptocurrency exchange Changelly Pro announced that its users now have access to the EtherLite ETL and promoted the platform for decentralized application creation (Dapps). If more developers flock to EtherLite to build, the ETL token could benefit.