Connext. Progress and changes.
About half a year has passed since the last article about Connext, so it makes sense to go through the changes in it.
Why NEAR should partner with Connext
Let's start with the fact that NEAR is a relatively closed ecosystem, no matter how they claim otherwise. There is no deep integration with other blockchains, so you constantly have to use crutches even for simple operations. That is why I believe that partnership with Connext will be the key in solving this problem. To avoid only negative points about NEAR, we shouldn't deny, the design of their ecosystem is the best among blockchains.
Connext SWOT analysis
We have already reviewed Connext several times (Ambassador Program, Amarok Update and Next token, Connecting Blockchains with Connext, Comparison Connext with Axelar), so to understand what is happening, I recommend you to read previous articles.
Connecting blockchains with Connext
Connext is a L2 communication protocol which allows you to send values and invoke contracts across Ethereum compatible chains and L2, with possible plugin support for non-Ethereum systems. Unlike other approaches, Connext does this without compromising economic security by introducing third-party validators — instead, it has the same trust considerations as the underlying network or networks.
What is Connext? Amarok update and NEXT token.
We’ve already talked about Connext and its Ambassador Program in past articles and videos. In a nutshell: Connext is a decentralized protocol that allows developers to build scalable and secure cross-chain bridges without having temporary layers. In addition, it works in a similar way as L2 systems, which gives it versatility.
Comparison Connext with Axelar Network
Connext Network and Axelar Network are quite similar. In order to understand their pros and cons let’s compare them.