Decimal Wiki

Blockchain bridge: Difference between revisions

[checked revision][checked revision]
No edit summary
m (CryptoUser moved page Commoninfo:blockchain bridge to Blockchain bridge)
 
(2 intermediate revisions by 2 users not shown)
Line 1: Line 1:
{{#seo:
{{#seo:
                     |title= Blockchain Bridge
                     |title= Blockchain bridge — Decimal Wiki
                     |titlemode= append  
                     |titlemode= append  
                     |keywords= Blockchain bridge
                     |keywords= Blockchain bridge
                     |description= Blockchain bridge
                     |description= Blockchain bridge
                     }}
                     }}
<div class="mikio-article-content">
'''Blockchain bridge''' is a link that provides connection and interaction between two [[blockchain]]s.
<div class="mikio-tags">


Bridges, by connecting two blockchain networks, help decentralized applications ([[dApps]]) to utilize the advantages of both systems. For example, a dApp hosted on [[Ethereum]] and linked to the [[Decimal blockchain]] can utilize the functionality of Ethereum [[smart contract]]s as well as the scalability of [[DecimalChain]].


</div>
Thanks to blockchain bridges, any [[data]], information, and tokens can be transferred between two blockchain platforms.
'''This is an old version of the document!"'
-----
<span id="blokchejn-most"></span>
= Blockchain Bridge =
<div class="level1">
"A 'blockchain bridge' is a link that provides communication and interaction between two blockchains.
Bridges linking two blockchain networks help [[commoninfo:dapps|dApps]] take advantage of both systems. For example, a DApp hosted on Ethereum and linked to the DecimalChain blockchain can use the functionality of Ethereum smart contracts, as well as the scalability of DecimalChain.
Thanks to blockchain bridges, any data, information and tokens can be transferred between two blockchain platforms.
'''Blockchain bridges are regulated by the Mint-and-Burn protocol. The token transfer does not take place literally; rather, when a token is needed to transfer from one blockchain to another, it is burned on the first, and an equivalent token is minted on the other.'''
</div>
<span id="kak_rabotajut_blokchejn-mosty"></span>
= How blockchain Bridges Work =
<div class="level1">
As for public and private blockchains, blockchain bridges are divided into two categories - "Trustless" and "Federated".
The 'Trustless-bridge' works more or less like a public blockchain network where anyone can join the platform without any permission. Just like Ethereum miners, users get an incentive to confirm transactions.
Similar to a private blockchain, a 'Federated-bridge' requires a user to meet certain criteria and requirements set by the federation in order to be part of the bridge.
</div>
<span id="preimuschestva_blokchejn-mostov"></span>
= Advantages of blockchain bridges =
<div class="level1">
The emergence of decentralized finance can significantly reduce the gap between cryptocurrency and the traditional financial system. Moreover, according to experts, [[commoninfo:defi|DeFi]] solutions are able to close the issue of cryptocurrency integration into the financial world even faster than the leaders of the payment industry, such as PayPal or Coinbase.
Blockchain bridges help reduce network traffic by distributing it across other, less loaded blockchains, thereby solving scalability problems.
Instant payment processing is also a very useful blockchain bridge application.
Ultimately, teams do not need to limit themselves to one blockchain if they want to strengthen the community of one with the performance of the other.
</div>
<span id="itogi"></span>
= Results =
<div class="level1">
The existing bridges have been functioning in their current form for too little time, so they are still at the stage of adoption.
Given the relative immaturity of this nascent field, it is inevitable that some bridge implementations are experiencing problems.
Nevertheless, it seems inevitable that with the current focus on scalability and interoperability, bridges will become an integral part of the blockchain landscape of the future.
</div>
<div style="clear:both">


Blockchain bridges are governed by the [[Mint-and-Burn]] protocol. [[Token]] transfer does not happen literally; instead, when a token needs to be transferred from one blockchain to another, it is [[burning|burned]] on the first one, and an equivalent token is [[minting|minted]] on the other.


</div>
== How blockchain bridges work ==
When it comes to public and private blockchains, blockchain bridges are divided into two categories — '''Trustless''' and '''Federated'''.
</div>
 
[[commoninfo:dapps|DApps]]  
A '''Trustless bridge''' operates more or less like a public blockchain network where anyone can join the platform without permission. Similar to Ethereum [[miner]]s, users are incentivized to confirm transactions.
[[commoninfo:defi|DeFi]]  
 
[[Category:Commoninfo]]
Similar to a private blockchain, a '''Federated bridge''' requires users to meet specific criteria and requirements set by the federation to be part of the bridge.
 
== Advantages of blockchain bridges ==
The emergence of [[DeFi|decentralized finance]] can significantly bridge the gap between [[cryptocurrency]] and the traditional financial system. Moreover, according to experts, DeFi solutions are capable of addressing the integration of cryptocurrency into the financial world even faster than payment industry leaders such as [[wikipedia:PayPal|PayPal]] or [[wikipedia:Coinbase|Coinbase]].
 
Blockchain bridges help reduce network congestion by distributing traffic to other less congested blockchains, thereby addressing scalability issues.
 
Instant payment processing is also a valuable application of blockchain bridges.
 
Ultimately, teams do not need to limit themselves to one blockchain if they want to enhance the performance of one community with the capabilities of another.
 
== Perspectives ==
Existing bridges have been functioning in their current form for a relatively short period, so they are still in the adoption stage.
 
Considering the relative immaturity of this emerging field, it is inevitable that some bridge implementations face challenges.
 
However, it seems inevitable that with the current focus on scalability and interoperability, bridges will become an integral part of the future blockchain landscape.
 
== See also ==
* [[Cross-chain]]
 
[[Category:Commoninfo]]
[[Category:Blockchain]]

Latest revision as of 21:05, 8 February 2024

Blockchain bridge is a link that provides connection and interaction between two blockchains.

Bridges, by connecting two blockchain networks, help decentralized applications (dApps) to utilize the advantages of both systems. For example, a dApp hosted on Ethereum and linked to the Decimal blockchain can utilize the functionality of Ethereum smart contracts as well as the scalability of DecimalChain.

Thanks to blockchain bridges, any data, information, and tokens can be transferred between two blockchain platforms.

Blockchain bridges are governed by the Mint-and-Burn protocol. Token transfer does not happen literally; instead, when a token needs to be transferred from one blockchain to another, it is burned on the first one, and an equivalent token is minted on the other.

How blockchain bridges work

When it comes to public and private blockchains, blockchain bridges are divided into two categories — Trustless and Federated.

A Trustless bridge operates more or less like a public blockchain network where anyone can join the platform without permission. Similar to Ethereum miners, users are incentivized to confirm transactions.

Similar to a private blockchain, a Federated bridge requires users to meet specific criteria and requirements set by the federation to be part of the bridge.

Advantages of blockchain bridges

The emergence of decentralized finance can significantly bridge the gap between cryptocurrency and the traditional financial system. Moreover, according to experts, DeFi solutions are capable of addressing the integration of cryptocurrency into the financial world even faster than payment industry leaders such as PayPal or Coinbase.

Blockchain bridges help reduce network congestion by distributing traffic to other less congested blockchains, thereby addressing scalability issues.

Instant payment processing is also a valuable application of blockchain bridges.

Ultimately, teams do not need to limit themselves to one blockchain if they want to enhance the performance of one community with the capabilities of another.

Perspectives

Existing bridges have been functioning in their current form for a relatively short period, so they are still in the adoption stage.

Considering the relative immaturity of this emerging field, it is inevitable that some bridge implementations face challenges.

However, it seems inevitable that with the current focus on scalability and interoperability, bridges will become an integral part of the future blockchain landscape.

See also

Retrieved from "https://decimalchain.com/wiki/en/Blockchain_bridge?oldid=2309"