Uniswap Labs and Across team up and propose cross-chain bridge standard

Uniswap Labs announced this Thursday (11) a partnership with Across to develop a cross-chain bridge standard. According to the statement, this partnership promises to increase interoperability and efficiency in the blockchain ecosystem, opening doors to new possibilities for trading and transferring digital assets.

Through Across Bridge and UniswapX, these projects have set a new standard for interoperability between different blockchains. Now, with the proposal of this new standard, companies seek to create a unified framework so that blockchains become more interoperable.

The new standard provides cross-chain systems with a unified specification for cross-chain intent. This means that any application that facilitates intents can route user-requested actions to a shared fulfillment network, increasing efficiency across the ecosystem.

To begin the process of creating this standard, Uniswap Labs and Across jointly published an Ethereum Request for Comment (ERC) on the Ethereum Magicians forum. Additionally, both projects will propose the standard to the CAKE working group for discussion and review.

This is a crucial step towards creating an ERC around this new standard. UniswapX will be the first to adopt the new ERC as the project seeks support for cross-chain functionalities. The proposal is open for feedback.

Uniswap Labs focuses on cross-chain bridges

Cross-chain protocols take different approaches to connecting activities across blockchains. Currently, message-based designs have been popular, but are flawed due to slow completion of transfers and high costs.

Intention-based approaches offer an alternative solution. If a user wants to exchange USDC on Ethereum for WETH on an L2, they don’t need to take multiple steps or worry about how it will happen.

Intent-based systems simply allow users to specify the end state of the blockchain – and a network of fillers compete to carry out the user’s action as quickly and cheaply as possible.

Intentions have been highlighted as one of the main solutions to the problem of cross-chain interoperability. However, to date, each intent-based system has fulfilled its users’ intentions through its own networks.

This presents problems such as delays and centralization risks due to each system’s dependence on a small number of fillers.

“The standard for cross-chain intents establishes rules for independent intent-based systems to follow at the Ethereum application layer. The proposal seeks to establish an ERC standard to allow different intent-based systems to interoperate seamlessly”, highlights the statement.