Bridge
Tool allowing crypto assets to be transferred from one blockchain to another.
Beginner-friendly explanation
A bridge is a gateway to move crypto assets between two different blockchains. It “locks” the original crypto and creates a copy on the new blockchain. Example: You can send ETH from Ethereum to Polygon via a bridge.
Intermediate-level insight
Bridges often use smart contracts to lock funds on the origin blockchain and issue equivalent tokens on the target blockchain. Some bridges are centralized, others decentralized. Example: The Polygon Bridge enables transferring USDC from Ethereum to Polygon within 8 to 15 minutes.
Advanced perspective
Bridges are critical security points. They must manage: deposit validation, wrapped token issuance, risks like smart contract exploits. Solutions like interoperable bridges (Axelar, LayerZero) aim to improve trust and cross-chain transfer efficiency. Example: The Ronin bridge hack (Axie Infinity) in 2022 resulted in a $600 million loss.
NFT DEFI Web3
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