Starbridge, a new project that will connect Stellar (XLM) and the Ethereum blockchain, has been announced. With the project, it is aimed to establish a connection between Stellar and investors in the DeFi ecosystem on the Ethereum network.

There are great developments in the adoption and usage areas of DeFi tokens in the Ethereum network, and thanks to the connection bridge to be created, the usage areas of XLM and the demand for the coin may increase. With the Starbridge project, a link will be created between the Stellar Blockchain and the Ethereum network.

   "Introducing Starbridge – a trust-minimized integration between Stellar and Ethereum.
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 gives a breakdown on the design and development behind the new project."

As it is known, Stellar is used in some financial systems and these assets can be exchanged for fiat currencies on exchanges. With the new connection, users will have the opportunity to move their assets to the Ethereum network and to migrate their assets from the Ethereum network to Stellar.

Stellar BlockChain

According to the developers' statement, two types of assets, local assets and wrapped assets, will be used for double-sided transactions in the Starbridge project.

When a local asset is sent to the Stellar Blockchain, that asset will be locked in a contract. The developers stated that with a large number of operations, decentralization will be created on the network and each operator will be provided with a unique key. It will be possible to revert the processes that could not be completed or failed in the design of the bridge to be created.

The XLM dev team said the Starbridge project is still in development and will strengthen Stellar's role in the global financial system.

Stellar price is $0.219183 at the time of writing and the last 24-hour trading volume is $232,874.138. XLM price is up 3.1% in the last 24 hours.