A blockchain bridge is a protocol that connects two or more blockchains, enabling interactions and transfers of digital assets and information between them. It acts as a bridge, linking separate blockchain ecosystems, allowing for the exchange of assets and data between them.

Key Functionality:

  • Enables interactions between blockchains with different protocols, system rules, and programming languages
  • Facilitates the transfer of digital assets and information between blockchains
  • Solves the issue of interoperability, allowing different blockchain networks to communicate and interact with each other

How it Works:

  • A blockchain bridge creates synthetic derivatives that represent an asset from another blockchain
  • These derivatives allow for the transfer of assets between blockchains
  • The bridge ensures the secure and reliable transfer of assets, maintaining the integrity of the blockchain ecosystem

Importance:

  • Enables the creation of a decentralized application ecosystem
  • Facilitates the growth and adoption of blockchain technology
  • Solves the issue of interoperability, allowing different blockchain networks to interact and communicate with each other

Examples of Bridges: