cross-chain bridge
KROS-chayn BRIJ
krɒs tʃeɪn brɪdʒListen
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Dictionary meaning
a protocol that enables the transfer of tokens, data, or messages between two distinct blockchain networks that would otherwise be unable to communicate directly; cross-chain bridges lock or burn assets on the source blockchain and mint equivalent representations on the destination blockchain, allowing users to move value between ecosystems such as Ethereum, Solana, Binance Smart Chain, and Bitcoin; bridges have become critical infrastructure for decentralised finance users seeking to access liquidity and opportunities across multiple blockchains; however they represent one of the most significant security risks in the blockchain ecosystem: cross-chain bridge exploits have accounted for some of the largest hacks in blockchain history, including the theft of over six hundred million dollars from the Ronin bridge in 2022, because they hold large pools of assets and require complex multi-chain security
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