Decentralized oracle service Umbrella Network officially launched on Ethereum on Friday, setting the stage for cross-chain transactions between the dominant smart contract platform and Binance Smart Chain, or BSC.
The cross-chain bridge connecting Ethereum and BSC was developed in-house at Umbrella Network, underscoring the need to transfer tokens and other crypto assets between the two networks. The cross-chain bridge also enables users to stake and farm crypto tokens on either blockchain. Umbrella said it’s planning future cross-chain integration with Polygon, Solana, Cardano and Avalanche, though no timetable was given.