• Harsha M

Crosschain Bridge

There are over 100 active public blockchains, many of which have their own unique applications, users, geographies, security models, and design trade-offs. Despite what individual communities believe, the reality is that the universe tends towards entropy, and the number of these networks will likely continue to increase into the future.

This type of market structure necessitates the need for interoperability between these distinct networks. Blockchain bridges enable interoperability between vastly different networks, such as Bitcoin and Ethereum, and between one parent blockchain and its child chain, called a sidechain, which either operates under different consensus rules or inherits its security from the parent blockchain.

There are many different designs for bridges, but they can generally be divided into two camps: more centralized bridges that rely on trust or federation, and so-called “trustless” bridges that are more decentralized. Centralized bridges rely on some type of central authority or system to operate, meaning that users are required to place trust in a mediator to use a given app or service. By contrast, trustless bridges are those in which users don’t have to place trust in a single entity or authority. Rather, the trust is placed in the mathematical truth built into the code. In a decentralized blockchain system, this truth is achieved by many computer nodes reaching a common agreement according to the rules written into the software.

Examples of crosschain bridges are - Binance smart chain bridge, Avalanche bridge, Polygon bridge, etc.

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