What are Blockchain Bridges and why are they great?

You know, the most famous public blockchains are Ethereum and Bitcoin. As you know, these are public blockchains: everyone has open source access to them, in short, they are transparent.

Also, even if we can access it and read the recorded information, only minors (those who make the consensus work, such as Proof-of-work or Proof-of-stake, for example) can therefore record news. data on the ledger that is the blockchain, therefore.

This is what makes this technology is extremely effective. The fact that each person has a very specific function and that only miners can validate new blocks.

However, this compartmentalization can ultimately have negative repercussions. For what? Because this somehow isolates the blockchains from each other. They cannot communicate with each other, this is what we must understand.

This is why so-called “inter-chain” infrastructure solutions make perfect sense. Projects like Polkadot, Cosmos or Avalanche will then allow the blockchains to communicate with each other.

This is also why the so-called solutions “bridge”, inter-chain solutions are gaining so much popularity lately.

So, in practical terms, when we say that it allows blockchains to communicate, it then allows us to move digital assets from one blockchain to another. This also makes dapps and related services much more flexible, regardless of the blockchain.

Understanding bridges in blockchain.

If we follow logic, Blockchain bridges then allow what is called interoperability between different networks. Bridges can then link blockchains as different as Bitcoin or Ethereum.

This interoperability is extremely practical, such as the transfer of tokens, data and even instructions on smart contracts between different platforms, for example. You can also use and move cryptos hosted on one blockchain to other dapps on another blockchain. So super practical.

Crazy, right? Unexpected even, we want to say.

For example, if we have expensive or slow transactions, we can then move our crypto assets to other blockchains, which are more scalable.

This is also valid for a so-called parent blockchain and a blockchain that results from it, which we call a sidechain, which can work with other consensus rules or which will benefit from the security of the parent blockchain as is the case with those based on Ethereum.

Although some blockchain bridges are centralized and governed by an actual company behind it, other bridges are entirely decentralized, such as Ren3 protocolEg.

For example, the Ren Virtual Machine (RenVM) is adaptable in a large decentralized network that will establish consensus (in the same way that Ethereum is supported by thousands and thousands of nodes).

Lock and Mint: The nerve center of decentralization

When a user wants to transfer assets from one blockchain to another, they will have to use a bridge. Please note that in technical terms, assets are not moved randomly or anywhere.

Here is the journey of these assets (in summary) which is done in a two-step process.

• First: Assets are locked or “frozen” on the blockchain they are in using a smart contract (or other mechanism).
• Second: Once these assets are locked, new corresponding tokens are created on the new blockchain. When a user wants to recover their initial assets, they will request that the assets they own will be burned to then unlock the original assets.

It is this process widely used in this type of procedure (this is the case for example, with the wrapped bitcoin, wrapped bitcoin). This prevents assets from being used on both chains at the same time.

Thus, this process allows to "move" in an imaginary way all assets from one blockchain to another, without an intermediary. RenMV allows in its current beta version, for example, to transfer BTC tokens, bitcoin cash BCH and even dogecoin on Ethereum and Binance SmartChain without any problem.

Wrapped bitcoin and similar projects like imBTC or HBTC work on the same principle and then allow you to use bitcoin on the Ethereum network and to be able to make them grow on decentralized applications like Aave, Compound or even MakerEg.

The bridges that connect the sidechains

We have seen the bridges that connect two different blockchains like Ethereum with Binance Smart Chain for example. Now, let's see the bridges that connect the sidechains. Parent blockchains can operate differently from their "child" blockchains. And to be able to communicate with each other, they must use a bridge.

For example, xDai is a sidechain based on the Ethereum blockchain and xDai is secured through the work of validators different from the miners who operate on Ethereum. Thus, two points were created, such as the xDai bridge and OmniBridge for example. These are the bridges that will connect the xDai sidechain to the Ethereum network and then allow tokens to be easily transferred from one chain to another. OmniBridge therefore allows us to lock any ERC20 tokens on Ethereum and immediately create an equivalent token on the xDai sidechain.

We see the same principle with Axie Infinity who created a sidechain linked to Ethereum to facilitate transfers of game assets, calls ronin.

What are the benefits of Blockchain bridges for DeFi users?

• Interoperability : Very clearly, this is the first big advantage. Blockchains become interoperable with each other. For users, this allows them to switch from one blockchain to another with ease.
• Maximize the potential of these cryptos. Bridges make it possible to transfer assets like bitcoin that have no use on the blockchain to transfer them to a blockchain with several options and uses on decentralized applications. We can therefore make the most of our cryptos, even bitcoin.
• One more great scalability. This is a strong innovation and it brings more liquidity (notably for wbtc) and more solutions. Developers are no longer obliged to develop new programs, but simply seek to implement bridges to make their blockchain more interesting.
• A Efficiency : Generally speaking, users are the big winners because they can use different blockchains easily and have the choice regarding transaction fees for example. The field of possibilities is ever greater and the barriers between blockchains ever lower. This can only improve the user experience overall, right?

So that’s it for this little article from the section Educations, hoping this helped you see things more clearly.

Understanding the concept of bridge and its importance always means better understanding the world of blockchain and cryptocurrencies in more depth.

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Note: All information on zonebitcoin should not be considered investment advice of any kind. No responsibility can be taken for all zonebitcoin articles.

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