Blockchain Bridges and the Future of Cross-Chain Interoperability

How do Bridges Work?

What Are The Main Bridge Platforms?

  • Connext Bridge (formerly XPollinate): Supports a wide variety of layer 1 and layer 2 platforms, as well as several different stablecoins (inc USDT and USDC) and native assets (ETH and WBTC). The platform makes use of NXTP (Noncustodial Xdomain Transfer Protocol) to enable generalized cross chain transfers.
  • Multichain (formerly Anyswap): Arguably the most feature-complete bridge, Multichain supports a vast array of blockchains and assets and benefits from large maximum bridge amounts. The platform has been hacked before, but the team behind the project restored liquidity to the protocol to mitigate the breach.
  • Celer cBridge: Celer’s cBridge V2 platform features user-contributed liquidity and support for well over a dozen different blockchains and two dozen different assets. It is one of the few bridges to support the Celo and Aurora platforms.
  • Allbridge: Allbridge is a simple cross-chain routing platform that supports a rapidly growing list of assets and just over a dozen blockchains (including Harmony, Near, Terra, and Huobi ECO Chain). The platform is designed to keep fees to a minimum.
  • Portal: Primarily built to bridge Solana assets to and from other chains, Portal allows users to swap Wormhole-wrapped tokens with low fees. The platform currently supports 9 different blockchains and is one of the few bridges to support NFT transfers. It should be noted that the Wormhole protocol was hacked in February 2022, but the funds were later replaced by an outside source.
  • Polkadot Bridges: Polkadot wants to allow heterogeneous and economically independent blockchains to communicate with one another (and the entire Polkadot network) through the use of bridges. This will include bridge pallets (for Substrate-based chains), smart contract-based bridges, and higher-order protocols for non-smart contract-capable chains (e.g. Bitcoin).

How Are Bridges Being Used?

Boosting scalability:

Cross-chain collateralization:

Reducing fees:

The Interoperable Future

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