DEFILINK DOCS
  • Overview
    • DeFiLink
    • Overview of DeFiLink
  • Products
    • Cross-chain Bridge
    • Asset and Portfolio Tracker
    • Token Swap
    • Charts and Token Analyzing
    • Implemented Web-Wallet
  • PROJECT GOALS
    • Roadmap
    • Tokenomics of Project
    • Channels of Development
  • Community
    • Community Overview
    • Core Values of Community
    • Technical Support
    • FAQ
    • Full Guideline for Users
    • Regular Q&A Sessions
  • Important Links
    • Website
    • Decentralized Application
    • Telegram Portal
    • Announcement Channel
    • Twitter
    • TechSupport
    • YouTube
Powered by GitBook
On this page
  • What is Cross-Chain Bridge?
  • DeFiLink Bridge
  • Process of Bridge Working
  1. Products

Cross-chain Bridge

PreviousOverview of DeFiLinkNextAsset and Portfolio Tracker

Last updated 1 year ago

What is Cross-Chain Bridge?

Cross-chain bridges are software applications that enable transactions to occur between various blockchains. If someone wants to transfer cryptocurrency, non-fungible tokens (NFT), or other digital assets between blockchain networks, cross-chain bridges are an essential part of the process. While most digital assets are tied to a specific blockchain, cross-chain bridges enable inter-network transactions powering a much broader digital ecosystem. Using cross-chain bridges, cryptocurrency owners can unlock the value held in their crypto portfolios for a wider range of real-life uses. (Definition taken from ).

DeFiLink Bridge

DeFiLink Bridge allows you to transfer assets within several blockchains, providing you high level interoperability. In order to Bridge, you should to connect wallet, choose the network and token and then bridge them.

Also, you can add tokens to favorites by clicking to the square near search icon.

Process of Bridge Working

Cross-chain bridges are powered by three main mechanism types:

  • Lock and mint—A user locks tokens in a smart contract on the source chain, then wrapped versions of those locked tokens are minted on the destination chain as a form of IOU. In the reverse direction, the wrapped tokens on the destination chain are burned to unlock the original coins on the source chain.

  • Burn and mint—A user burns tokens on the source chain, then the same native tokens are re-issued (minted) on the destination chain.

  • Lock and unlock—A user locks tokens on the source chain, then unlocks the same native tokens from a liquidity pool on the destination chain. These types of cross-chain bridges usually attract liquidity on both sides of the bridge through economic incentives such as revenue sharing.

Investopedia
DeFiLink Bridge