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An Ethereum (ETH)-based altcoin is skyrocketing after gaining support from South Korea’s second-largest crypto exchange.
In a new announcement, crypto trading platform Bithumb says that it is now supporting the interoperable cross-chain bridge Across Protocol (ACX), triggering rallies for the digital asset.
News of the event caused ACX to surge, as it went from a March 21st low of $0.275 to a peak of $0.462 just a few hours later, a rise of nearly 68%. It has since retraced and is trading for $0.319 at time of writing, a 10% gain during the last 24 hours.
In its whitepaper, Across Protocol says it is the only cross-chain platform powered by intents.
Explains Across Protocol,
“Intents introduce a third party, a relayer (alternatively named filler, or solver), that does the job of delivering assets / executing user transactions quickly. An intent is a type of order where a user specifies an outcome instead of an execution path.
In practice, intents manifest as a combination of a cross-chain limit order and an action to execute, all encoded within a standardized order structure. Relayers compete on cost and speed to fill these orders, which can include on-chain actions as well as assets. Relayers deliver very quickly, without any messages.
From the user’s perspective, interoperability is solved. Their desired outcome is achieved.”
