What are blockchain bridges?

in blockchain •  4 years ago 

Blockchain - bridge provides communication between two different blockchains, which were built on different protocols. Such an action, if the logic of work is properly configured, allows you to use the advantages of both blockchains, cancelling their disadvantages.

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An example of a situation - the Ethereum blockchain has a large community, popular all over the world, but at the same time it suffers from scalability problems, and users are troubled with the need to pay an additional commission if the network is overloaded. Accordingly, any new product based on ETH has similar problems - that means, insufficient scalability and slow transactions in situations with a congested network. On the other hand, the EOS blockchain has fast work, a comfortable platform and low commissions, but the community is several times smaller, as well as the projects that were created on it.

The transition from one blockchain to another is, first of all, labour-intensive, and secondly, it deprives it of the advantages of the blockchain on which it originally functioned, or on which work was planned.

The problem is solved as follows - the project is built on a protocol based on the mint-and-burn principle (blockchain bridge), where tokens are delivered on all platforms. This means that when leaving one blockchain, the bridge protocol can either block it or burn it. At the same moment, a similar token is issued on another blockchain. Moreover, the described process is two-way.

As a result, the operation retains the main advantages of ETH, and at the same time, thanks to EOS, temporarily bypasses the problem of scalability, slow transactions and high sending fees.

Conclusion. Most likely, in the foreseeable future, we will receive even more projects using the principle of the blockchain - bridge, as this opens up tremendous opportunities for scaling.

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