A blockchain bridge gives a connection that enables for the switch of tokens or knowledge between two completely different blockchain ecosystems.
A major problem of blockchains so far is their lack of interoperability. As soon as a developer builds their decentralized application on any explicit platform, they’re usually 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 most likely hoped can be solved by now. In the event that they transfer to a different, quicker platform, similar to EOS, then they lose out on the advantages that Ethereum does provide: a big neighborhood, a extensively supported token commonplace 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 very interoperable blockchain ecosystem, tokens, knowledge and good contracts might doubtlessly journey between many various platforms.
Bridges usually use some sort 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 other blockchain. Conversely, when the token strikes again to its unique community, the “twin” token is burned or locked.