Why does your coin need a Сross-Сhain?30 Jul 2021
Each blockchain has its features, advantages, and useful options. But they also have some disadvantages. For example, they are functionally limited, not flexible enough, or too slow. As a result, participants cannot change the rules, use tools from different blockchains, and interact in the way they would be comfortable with a cross-chain bridge.
In the previous article, we discussed how to choose a blockchain platform for your business project. You can choose absolutely any blockchain and then build a bridge to another blockchain thanks to the cross-chain solution developed and used by the Rock’n’Block team.
Let’s look at how it works and why you need it
The bridge is a technology that links two blockchain networks using the ability to verify cross-chain transactions.
Rock’n’Block development team creates wrap tokens for your project with specified parameters and connects them using a smart contract. The address of which is a “swap contract”, transfers to it are caught by the scanner.
A simple bridge solution
1) Assets are locked on chain#1 and an equivalent amount is released on chain#2;
2) Assets released on chain#2 are locked, and an equivariant amount is unlocked on chain#1
Bridge’s design is optimized to four principles:
- Speed and efficiency
Looking ahead, the capabilities of Bridge are tailored to the needs of customers following a multiphase approach. The standard version of Bridge aims to provide integrity and low-cost solutions to attract assets into the network while maintaining secure trust. A modified version of Bridge achieves the parameters of fully decentralized and trusting.
Having built the Cross-chain bridges you will have
- Increased your token trade opportunities through entering new trading platforms
- Made the token available at several networks at the time.
- Given token holders freedom to choose the network for transactions.
- Escaped limitations of particular blockchain: costs and time constraints.
- Gotten the ability to use cheaper transaction fees and faster networks.
- Increased the number of token holders.
Rock’n’Block also continues to improve our development and add new options and features.
The new multi-sig bridge option
Along with the need for cross-chain swap, the number of requests for bridge development is growing. Decentralization is our focus and we are working on additional steps to make it fully decentralized.
We have implemented the multi-sig option
- User send funds to swap contract (in Ethereum, BSC) in chain#1
- Validators catch the event, sign the transaction and send a message to one of the Relayers
- Relayers wait for 2/3 approvals from Validators and initiate the transaction
- Swap contract in chain#2 gets signatures from Relayers and checks that it is signed by 2/3 Validators, then proceed with token sending
- For transparency, the initial hash in chain#1 recorded to the corresponding tx in chain#2
- Relayers and Validators whitelisted to swap contract in chain#2
Bridges by Rock’n’Block
As an example of how the cross-chain bridge developed by our team works. We offer you to test Less bridge is available for exchanging between 4 popular blockchains such as Ethereum, Binance Smart Chain, Tron, and Polygon.
Check out the LessBridge that is being developed by the Rock'n'Block team right now.
A credible fact about the qualifications of our developers is a passed audit in the well-known CertiK token Less, created with the support of our team of experts.
We always insist on the smart-contracts and token contracts audit. That could be a key thing in the whole project. You can check the audit of the Less token.
We can develop a bridge for you on demand. You will have to choose two blockchains between which the token will move and wrap. Development of a standard bridge takes 2–3 weeks, depending on the requested features and coordination of interface designs.
Rock’n’Block’s team is not limited only by the development of the cross-chain solution. We can help with:
⚡️NFT and NFT Marketplaces development ;
⚡️NFT 10K generator;
⚡️Any other custom request from a crypto wallet development to custom blockchain development.
If you’re interested in building your blockchain project, feel free to contact our team via the Telegram channel or book a call via Calendly.
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