Following over three months of downtime, the Ronin Bridge is finally back up and running. Meaning, users can once again transfer their compatible tokens between Ethereum Mainnet and the Ronin Network.
Ronin arrived at its turbulent period back on March 23, when its validators were left wanting. Consequently, seeing its mighty coffers drained of an inordinate amount of funds. As a result, Ronin disabled its bridge as the beleaguered company looked to shore up its security.
Now, after months of painstaking development and multiple audits, the Ronin Bridge has resumed operations. Users of its flagship outing, Axie Infinity, can once again move tokens on and off of the chain.
The Ronin Bridge is open!
• All user funds are fully backed 1:1 by the new bridge.
• The bridge has undergone an internal audit and two external audits.
• We are still on track to release Land Staking this week.
— Ronin (@Ronin_Network) June 28, 2022
In addition to increasing the number of validators and strengthening the overall security, Ronin has also introduced further safety measures. It has put a cap on daily transactions, and introduced a human overseer to green light large transfers, while backing all funds using the bridge 1:1 to guarantee peace of mind.
Now, with all that ugly business out of the way, Axie will power ahead with additional innovative features, with the first being the incredible opportunities afforded by LAND staking, heading this way any day.
Read the full disclosure from Ronin >> Here
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Reposted from: nftplazas.com