Psy CEO Carter Feldman emphasizes the significance of cross-chain bridges in blockchain interoperability, particularly after launching a trustless Dogecoin to Solana bridge. While acknowledged for their role in enhancing crypto ecosystem integration, these bridges also pose vulnerability concerns. In an interview with crypto.news, Feldman highlighted the importance of cross-chain bridges and explained the benefits of Psy’s new bridge.
A trustless bridge from Dogecoin (DOGE) to Solana (SOL) was launched on May 22nd by Psy, offering a secure solution for transferring digital assets between blockchains. This innovative bridge avoids risks associated with traditional bridges that rely on multisig signers or centralized custodians.
According to Feldman, the new bridge verifies Dogecoin’s proof-of-work on Solana, providing cryptographic verification of each Dogecoin block header. Solana can verify Dogecoin’s state without relying on intermediaries, ensuring a secure and decentralized process.
Feldman elaborated on the rationale behind this project, stating that it brings proof-of-work security to proof-of-stake chains while demonstrating its compatibility without compromising security. He further explained how Dogecoin’s proof-of-work consensus contributes to a robust security layer that prevents manipulation and censorship.
In response to the question of why this bridge is so impactful, Feldman highlighted the bridge’s potential for growth by increasing accessibility and synergy between both ecosystems. It allows DOGE holders to utilize Solana’s DeFi, NFT, and gaming capabilities without selling their DOGE while enabling Solana developers to tap into Dogecoin’s vast user base and liquidity.
The CEO further elaborated on bridges connecting other chains, emphasizing that trust-minimized Bitcoin bridges are a future focus, with the technology already providing strong foundations for similar projects in the crypto world.