Blockchain is a circulate daybook technology that uses cryptanalysis to provide assurance and integrity to data and transactions. Blockchain networks enable many types of services, including secured databases, immutable ledgers, decentralized applications, decentralized finance, non-fungible tokens ( NFTs ) and cryptocurrencies.
Reading: 6 best cross-chain bridges in 2022
There are many blockchain networks and cryptocurrencies that use different blockchain technologies, including Bitcoin, Ethereum, Avalanche, Polygon, Solana and Arbitrum. Enabling interoperability and change across different blockchain networks is an sphere where cross-chain bridges — sometimes besides referred to as blockchain bridges — play an increasingly crucial function .
What is a cross-chain bridge?
A cross-chain bridge enables an exchange of information, cryptocurrency or NFTs from one blockchain network to another. It enables the flow of data and tokens across what would otherwise be siloed sets of data on different blockchains .
With decree currency there are many established ways for individuals and businesses to exchange money, creating a globally available and interoperable arrangement of fiscal payments. Those systems include fiscal institutions, banks and accredit cards that handle alien change. In the world of blockchains, a cross-chain bridge serves a reasonably analogous determination .
Exchange across unlike blockchains for cryptocurrency is possible without a cross-chain bridge, but it is expensive and more time-consuming. Without the use of a cross-chain bridge, users have to first convert a cryptocurrency token into a decree currency, which often involves fees. They then use currency to get the other desire type of cryptocurrency, incurring more fees and taking time .
One characteristic of a cross-chain bridge is that it enables users to exchange one cryptocurrency for another without first gear changing it to fiat currentness. Cross-chain bridges are n’t limited to barely cryptocurrency value transfer either. An effective cross-chain bridge can besides enable the transfer of fresh contracts and NFTs from one blockchain environment to another .
There are respective approaches to enabling transfers with a cross-chain bridge. One coarse approach is using a cloaked token issued by the cross-chain bridge provider chopine. With a envelop keepsake, the value of one token from a specific blockchain net can be encapsulated inside another token. Wrapped tokens are typically based on the ERC-20 technical foul stipulation for an Ethereum net. For model, WBTC is a Bitcoin token wrapped with an ERC-20 Ethereum bright contract .
Another approach to enabling cross-chain bridge transfers is by using a liquid pool. With a fluidity pool, a cross-chain bridge provider holds inventory — or pools — of diverse coins where one can be exchanged for another .
Cross-chain bridges can besides be a lucrative target for hackers. In February 2022, cross-chain bridge chopine Wormhole was the victim of an assail in which the terror actor stole 120,000 wrapped Ethereum tokens — worth an calculate $ 320 million at the time of the larceny .
Learn more about how cryptocurrency cyber attacks are on the arise .
Best cross-chain bridges
For Bitcoin, which is possibly the most long-familiar cryptocurrency, the most common bridge is with the use of Wrapped Bitcoin ( WBTC ). Wrapped Bitcoin is sometimes referred to as a blockchain bridge, as it enables Bitcoin as an ERC-20 token — a token specification that is supported on many other blockchains .
While Bitcoin is well known, the Bitcoin blockchain does n’t have the lapp smart abridge features that are the foundation garment of the Ethereum-based blockchain. Smart contracts enable decentralized finance, decentralized apps and NFTs. Users looking to use Bitcoin across other blockchain networks will beginning need to covert to Wrapped Bitcoin. This was originally run as a blockchain bridge by BitGo, and in 2022 is supported and available via a growing collaborator network of exchanges .
Cross-chain bridge providers frequently support multiple types of blockchains, though specific subscribe varies from supplier to supplier. support for bringing smart contracts, tokens and NFTs from the Ethereum mainline to different blockchain networks is among the most common have across cross-chain bridges .
When choosing a cross-chain bridge, users should be sure the specific blockchain network — equally well as token or NFT — they are looking to bridge is supported. Different networks besides have varying fees, which can be explosive and change promptly .
hera are some popular cross-chain bridges :
The Binance Bridge has an expansive set of options for bridging a growing tilt of cryptocurrencies. The visualize is associated with the Binance Smart Chain blockchain project, which rebranded as BNB Chain in February 2022. however, Binance Bridge is not limited to that single blockchain .
Supported blockchain networks: Ethereum, Solana, BNB Chain and Tron .
Supported cryptocurrency tokens: View the full list of cryptocurrencies here .
Website: hypertext transfer protocol : //www.bnbchain.world/en/bridge
The Celer cBridge uses the Celer State Guardian Network to enable liquid across different blockchains.
Supported blockchain networks: Ethereum, Astar, BNB Chain, Avalanche, Polygon, Arbitrum, Fantom, Metis Mainnet, Oasis Emerald, Celo, Aurora, Harmony, Moonbeam, Moonriver, Optimism, Boba Network, OKExChain, Heco, Clover, Gnosis Chain, Milkomeda Cardano and Shiden .
Supported cryptocurrency tokens: Tether, USD Coin, Ethereum, MetisDAO, Kromatika, Binance USD, Thales, Domi Coin, Dodo, Unified Society, Lyra, JPEGvault, Immutable X, dForce, xToken, Wootrade, Perpetual Protocol, Mask Network, Izumi Finance, MCDex, PolkaEx, CEC Energy Chain, PerlinX, Reef Chain, Boba Network and Standard Protocol .
Website: hypertext transfer protocol : //cbridge.celer.network
This platform was developed by the Germany-based Tixl constitution, which rebranded as the Autobahn Network in March 2022. Cross-Chain Bridge has support for bridging both tokens and NFTs across multiple networks .
Supported blockchain networks: Avalanche, BNB Chain, Polygon, Ethereum and Fantom .
Supported cryptocurrency tokens: Bridge, Bulk Token, Candle, DAEX Token, GamyFi Platform, TribeOne, Moonie NFT, Polychain Monsters, Realm Token, Autobahn Network, UnitedCrowd Token, Unobtanium, Upfire, USD Coin, Tether and Wrapped Ethereum .
Website: hypertext transfer protocol : //crosschainbridge.org
Umbria Narni Bridge
The Umbria Narni Bridge enables blockchain asset transfer using fluidity pools, where assets are held across multiple chains .
Supported blockchain networks: Polygon Mainnet, Ethereum Mainnet, BNB Chain, Avalanche. Plans to support Fantom, Ronin, Solana, Cardano, Immutable X, Worldwide Asset Exchange, Gnosis, KuCoin Community Chain and Huobi Eco Chain .
Supported cryptocurrency tokens: Ethereum, Polygon, USD Coin, Tether USD, Umbria Governance Token and Wrapped Bitcoin .
Website: hypertext transfer protocol : //bridge.umbria.network
once known as Fantom Anyswap, Multichain positions itself as a cross-chain router protocol, enabling the flow of data and assets across different blockchain networks. No other cross-chain bridge service supports as many token types as Multichain .
Supported blockchain networks: Arbitrum, Astar Network, Aurora, Avalanche, BNB Chain, Bitcoin, Blocknet, Boba Network, Celo, Clover, ColossusXT, Conflux eSpace, Cronos, Ethereum, Fantom, Fuse, Fusion, Gnosis, Harmony, Huobi, IoTex, KCC, Litecoin, Metis, Milkomeda, Moonbeam, Nebulas, OEC, Oasis Network, Optimism, Polygon, REI, Shiden Network, Syscoin NEVM, Telos, Terra, Velas and XRP .
Supported cryptocurrency tokens: View the full list of tokens here .
Website: hypertext transfer protocol : //multichain.org
wormhole locks in an origin token with a fresh shrink, wrapping the coin in a Wormhole minted nominal on the target blockchain .
Supported blockchain networks: Solana, Ethereum, Terra, BNB Chain, Polygon, Avalanche, Oasis and Fantom.
Supported cryptocurrency tokens: USD Coin, Tether, FTX Token, Ethereum, Serum, MakerDAO, TerraUSD, Binance USD, Huobi Global, OKEx, Frax Protocol Token, Huobi BTC, Synthetix, Shiba Inu, Axie Infinity, SushiSwap, Decentraland, Sandbox and Uniswap .
Website: hypertext transfer protocol : //portalbridge.com/ # /transfer