On Wednesday, Psychedelic, a Web 3.0 development studio building solutions for the Internet Computer, launched Terabethia, a cross-chain contract communication and asset mirroring protocol. Beginning with the Internet Computer and , users will have the ability to mirror and use any Ethereum tokens, fungible and nonfungible, on the Internet Computer blockchain and vice versa, effectively turning the Internet Computer into a layer-two scaling solution for Ethereum.
The protocol attempts to tackle the problem of Ethereum network congestion and high gas fees. The Internet Computer, meanwhile, uses a “reverse gas model” where developers supply the funds needed to run the applications or contracts that use their gas, known as “cycles.”
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Read More:Terabethia cross-chain protocol bridges Internet Computer and Ethereum By Cointelegraph