{"id":12305,"date":"2021-09-20T02:54:02","date_gmt":"2021-09-20T02:54:02","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/cross-chain-bridges-that-connect-5-different-blockchains-to-ethereum\/"},"modified":"2021-09-20T02:54:02","modified_gmt":"2021-09-20T02:54:02","slug":"cross-chain-bridges-that-connect-5-different-blockchains-to-ethereum","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/cross-chain-bridges-that-connect-5-different-blockchains-to-ethereum\/","title":{"rendered":"Cross-Chain Bridges That Connect 5 Different Blockchains to Ethereum"},"content":{"rendered":"

During the last few months, cross-chain bridge technology has grown a great deal and users can now swap assets between a myriad of networks. Today, between eight different bridges there\u2019s $7.6 billion total-value locked across these platforms. <\/strong><\/p>\n

Cross-Chain Bridges<\/h2>\n

There\u2019s a decent quantity of cross-chain blockchain bridges these days and it has allowed users to do a variety of different decentralized finance (defi) techniques. Interestingly, a great deal of bridges connect to the Ethereum (ETH<\/a>) network, as they have Ethereum Virtual Machine (EVM) compatibility.<\/p>\n

Since these connections have been made, a great deal of value has been flowing between a myriad of chains and the Ethereum blockchain. The following post mentions a number of bridges cryptocurrency participants can use to achieve cross-chain swaps.<\/p>\n

Tezos Wrap Protocol Bridge<\/h2>\n

The Tezos (XTZ)<\/a> blockchain is a proof-of-stake (PoS) blockchain network that leverages validating nodes often referred to as bakers. XTZ<\/a> users have the ability to bridge with the Ethereum blockchain as a team called Bender Labs<\/a> developed a bridge called the Wrap Protocol<\/a>.<\/p>\n<\/p>\n

Essentially, the Wrap Protocol developed by Bender provides people with the ability to wrap ERC20 and ERC721 tokens in order to leverage them with different defi applications.<\/p>\n

Binance Smart Chain Bridge<\/h2>\n

The Binance Smart Chain (BSC)<\/a> is another blockchain that is compatible with Ethereum. BSC offers the same smart contract capacity but the fees on the BSC chain are much cheaper. Binance Chain (BNB<\/a>) users can switch from the BNB<\/a> chain to BSC via the BEP20 standard and a cross-chain bridge.<\/p>\n<\/p>\n

The Binance wallet<\/a> is an extension wallet that can perform cross-chain swaps from BNB<\/a> to BSC. Alongside this, users can leverage the Binance Bridge<\/a> to handle cross-chain transactions as well. U.S. users and a number of other countries may have to leverage a VPN to access the Binance Bridge.<\/p>\n

Solana\u2019s Wormhole Bridge<\/h2>\n

Solana (SOL)<\/a> has a bridge as well and the launch of the Wormhole Network\u2019s ethereum \u2013 solana bridge was revealed<\/a> on September 17. The Wormhole Token Bridge connects Ethereum and Solana and users can interchange assets across both blockchains.<\/p>\n<\/p>\n

\u201cThe portal is open,\u201d the website wormholenetwork.com<\/a> details. \u201cWormhole delivers new communication channels between previously siloed blockchains.\u201d Current Wormhole statistics from Dune Analytics indicate the Solana Wormhole has $382,471,804 total-value locked.<\/p>\n

Avalanche Bridge<\/h2>\n

Another chain that is compatible with Ethereum is Avalanche (AVAX)<\/a>, a proof-of-stake (PoS) blockchain. AVAX participants can bridge AVAX assets to Ethereum by leveraging the cross-chain capabilities offered by the Avalanche wallet<\/a>.<\/p>\n<\/p>\n

Users of this wallet can exchange their AVAX back and forth for a small fee between the Avalanche network and the Ethereum network. After a cross-chain swap is settled onto the Ethereum chain, participants can send the funds to a wallet like Metamask, as long as they configure Metamask to the Avalanche network.<\/p>\n

Bitcoin Cash Smartbch Bridge<\/h2>\n

Bitcoin Cash (BCH)<\/a> is another chain that is now compatible with Ethereum via the Smartbch network<\/a>. This means bitcoin cash (BCH<\/a>) can be wrapped and used for decentralized finance purposes. Currently, there is only one Smartbch bridge powered by the crypto-asset exchange Coinflex<\/a>.<\/p>\n<\/p>\n

Users can access Coinflex via Metamask instead of registering with an email and users can swap their BCH<\/a> for Smartbch almost instantly, after confirmation times. Essentially a user simply deposits BCH<\/a> and sends out Smartbch by leveraging the SEP20 token protocol standard at withdrawal. From here, after a Metamask wallet is configured to the Smartbch network, Metamask users can leverage wrapped bitcoin cash.<\/p>\n

Research Guides on How to Use Bridges Before Crossing Them<\/h2>\n

The list above just scratches the surface when it comes to cross-chain swaps as there are bridges stemming from blockchains like Cosmos, Fantom, Polygon, Terra, Harmony, Near, Optimism, and Harmony.<\/p>\n

Cosmos users can connect with a Keplr wallet and connect to Ethereum via Emeris<\/a>. Near participants can collaborate with Ethereum via the NEAR Rainbow Bridge<\/a>. Fantom users can swap with spookyswap<\/a> or multichain.xyz<\/a> and Polygon network participants are able to cross-chain swap via the Polygon Bridge<\/a>. Terra assets can be swapped back and forth between Ethereum and Terra through bridge.terra.money<\/a>.<\/p>\n

However, using cross-chain bridges takes some patience and some prior knowledge from walkthrough articles and step-by-step directions on how to leverage blockchain bridges. Funds can get lost if mistakes are made and users should always do due diligence before accessing any cross-chain bridges or decentralized finance (defi) applications in general.<\/p>\n

What do you think about the five cross-chain bridges mentioned in this article? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nDefi, Avalanche, Avalanche Bridge, AVAX, Bear, binance chain, Binance Smart Chain, Binance Smart Chain Bridge, Blender, bnb, Bridges, BSC, Cosmos, Cross-chain, cross-chain bridge, Dune Analytics, NEAR, Polygon, Smartbch, SOL, Terra, Tezos, total value locked, TVL, Wormhole, Wrapped BCH, Wrapped Tezos, xtz<\/p>\n","protected":false},"excerpt":{"rendered":"

During the last few months, cross-chain bridge technology has grown a great deal and users can now swap assets between a myriad of networks. Today, between eight different bridges there\u2019s $7.6 billion total-value locked across these platforms. Cross-Chain Bridges There\u2019s a decent quantity of cross-chain blockchain bridges these days and it has allowed users to…<\/p>\n","protected":false},"author":0,"featured_media":12306,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12305"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12305"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12305\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12306"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}