What is a crypto bridge?

A crypto bridge is a protocol that enables two or more blockchains to work and share data with each other. It connects blockchains so users on one network can participate in the activities of another. This allows crypto users to utilize their holdings outside native chains.

Are crypto bridges the future of blockchain and cryptocurrencies?

Participants have realised that the market is moving towards a multi-chain ecosystem and are now more often looking for ways to move coins across the different networks. It’s now clear that Crypto bridges will play a pivotal role in the long-term success of blockchain and cryptocurrencies.

What is a blockchain bridge?

A blockchain bridge is a tool that lets you port assets from one blockchain to another, solving one of the main pain points within blockchains – a lack of interoperability. Since blockchain assets are often not compatible with one another, bridges create synthetic derivatives that represent an asset from another blockchain.

What is Chainbridge and how does it work?

The ChainBridge allows Centrifuge to move fungible and NFTs between chains. Being open source, ChainBridge also enables other teams within the ecosystem to build bridges to their projects. ChainX, a crypto assets gateway, is planning bridges to several networks and has implemented a BTC-to-Substrate bridge.