Psychedelic has developed the Terabethia Bridge, which allows mirroring Ethereum tokens on the Internet Computer blockchain. This protocol, unlike competing solutions, avoids the cost of gas when transferring assets.
The developers chose Internet Computer for two reasons: the network is significantly faster than any of the existing blockchain solutions, and also has a low cost of data storage.
The speed of transactions will ensure zero commission for transfers of Ethereum mirror tokens. The Internet Computer blockchain will significantly save on infrastructure for smart contract developers who can easily interact with ETH and DeFi platforms through Terabethia.
This news stopped the drop in ICP quotes, the value of which has dipped 20 times since the first entry on cryptocurrency exchanges.
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