Koii Labbs, Idexos launch middleware bridge aiming to replace CEXs
The multi-chain bridge aims to provide a decentralized alternative to centralized exchanges by enabling cross-chain transactions by self-custodied token holders. Attacks on bridge technology in 2022 led to the theft of $2.5 billion from decentralized finance (DeFi) protocols, according to a report by Token Terminal. While this could have been a setback for many projects and, thus, for the crypto space, it seems to be fueling infrastructure and security developments. At the ETH Denver 2023, Web3 protocol Koii Labs and software company Idexo announced a new middleware bridge to advance deployments on-chain with "just a few lines of code," Cointelegraph exclusively learned from the teams. The solution aims not only to improve security and speed up deployments, but also to create a path to replace centralized crypto exchanges with DeFi bridges. Through bridges, two or more blockchains can share data, such as smart contracts or tokens. Bridges connect different architecture and d...