Speaking of cross chain bridge, it is actually a blockchain technology that can help encrypt currency, intelligent contract instructions and blockchain data transmission. We know that there may be different protocols, rules and governance models between the two blockchains. The role of cross chain bridge is to connect these different protocols.

1、 What is a cross chain bridge?

You may need a cross chain bridge to transfer tokens from one blockchain to another.

Let's explore more.

2、 What is a cross chain bridge?

One of the main problems of blockchain is the lack of operability. Cross chain bridge is a tool for porting assets from one blockchain to another. Because blockchain assets are often incompatible, bridges generate synthetic derivatives that represent assets of another network.

According to the target blockchain, a Solana coin will be "packaged" into tokens through the bridge. If you use the bridge to transmit it to the Ethereum wallet, you can send it to the Ethereum wallet.

In this case, it has been converted into Ethereum wallet. ERC-20 token (an alternative universal token standard on the Ethereum blockchain) The "bridge" version of Solana will be sent to the Ethereum wallet. The bridge supports the new market and promotes the future of multi chain, but there are also security risks, as demonstrated by the huge vulnerability of 326 million dollars spent on the new wormhole bridge in February 2022.

3、 Why use cross chain bridge?

Transferring assets from one blockchain to another has broad advantages. First of all, the blockchain you transfer assets to may be cheaper and faster than it. This is undoubtedly the case with Ethereum. High transaction costs and low throughput make it difficult for beginners to participate in decentralized banking (DeFi). If investors migrate assets to the second layer network, that is, faster blockchains above the Ethereum blockchain, such as Arbitrum or Polygon, investors can trade ERC-20 tokens at a small part of the cost without giving up their exposure to Ethereum tokens.

Other investors can take advantage of the bridge to make full use of the market limited to different blockchains. For example, Orca, which supports the packaging version ETH, is only available on Solana. Bridges are becoming easier to use.

Many bridges. DeFi The protocol includes a built-in bridge that allows users to exchange tokens between protocols without leaving the website. Therefore, it is easier to transform tokens by bridging.

"Speaking of cross chain bridge, it is actually a blockchain technology that can help encrypt currency, intelligent contract instructions and data transmission between blockchains. We know that there may be different protocols, rules and governance models between the two blockchains. The role of cross chain bridge is to connect these different protocols. Users can conduct asset transactions faster and easier through cross chain bridge, which will greatly reduce Low operation difficulty and low transfer cost on these non expandable blockchains.

"Speaking of cross chain bridge, it is actually a blockchain technology that can help encrypt currency, intelligent contract instructions and data transmission between blockchains. We know that there may be different protocols, rules and governance models between the two blockchains. The role of cross chain bridge is to connect these different protocols. Users can conduct asset transactions faster and easier through cross chain bridge, which will greatly reduce Low operation difficulty and low transfer cost on these non expandable blockchains.

summary

To sum up, due to the potential security problems at this stage, cross chain bridges need to be further improved to enhance users' confidence in asset security when using cross chain bridges.

From the user's perspective, in addition to security, it should also provide a smooth cross chain experience, including one key cross chain, convenient cross chain speed, direct conversion to original assets, etc. Multi chain ecology is an irreversible trend in the future. Cross chain bridges are also the underlying core infrastructure. We look forward to the development of cross chain bridges in the future.