A blockchain bridge supplies a connection that enables for the switch of tokens or knowledge between two completely different blockchain ecosystems.
A major problem of blockchains thus far is their lack of interoperability. As soon as a developer builds their decentralized utility on any specific platform, they’re typically locked into that platform with no alternative to leverage any of the advantages of different blockchains.
For instance, Ethereum has well-documented scalability points that many builders in all probability hoped can be solved by now. In the event that they transfer to a different, quicker platform, resembling EOS, then they lose out on the advantages that Ethereum does supply: a big group, a broadly supported token normal and the most-adopted good contract platform.
Due to this fact, a developer can use a bridge to ship their token from one blockchain platform to a different, leveraging the advantages of each. In a really interoperable blockchain ecosystem, tokens, knowledge and good contracts might doubtlessly journey between many various platforms.
Bridges typically use some type of mint-and-burn protocol to maintain token provide fixed throughout all platforms. When the token leaves one blockchain, it’s burned or locked, and an equal token is minted on the alternative blockchain. Conversely, when the token strikes again to its authentic community, the “twin” token is burned or locked.