![]() ![]() For example, with the Binance bridge, the user can bring cross-chain assets from EVM chains to Binance Smart Chain and vice versa. ![]() What is a cross-chain bridge?Ī cross-chain bridge is a multi-chain bridge between multiple blockchains that allow cross-chain asset transfers, as well as the movement of smart contracts and data between different networks. Cross-chain bridges reduce the transaction fees, and make it process economical and efficient. Traditionally, cross-chain transfers are expensive consuming high gas fees, and discourage traders from carrying out this type of transaction. ![]() If a user wants to move an asset from BSC to another network, they can utilize the Binance bridge. It is removing the restrictive element that was once present when it comes to interoperability. It is driving massive adoption of the DeFi space because users can seamlessly perform cross-chain swaps and enjoy the features of multiple networks. Instead of crypto being restricted only to Binance Smart Chain, it can be moved to EVM chains via cross-chain bridges. A cross-chain bridge connects digital assets to multiple blockchains. People are seeing the perks that come with DeFi, especially in the aspect of cross-chain transfer. Crypto enthusiasts use decentralized finance features like yield farming, staking the native tokens of a decentralized protocol, using the wrapped tokens of platforms like Bitcoin, lending their spare coins and much more. Home » Insights » What is a Cross-Chain Bridge in Crypto? What is a Cross-Chain Bridge in Crypto?Īs the cryptocurrency space improves and innovations are being released regularly, there is a need for digital assets to access cross-chain swap functionality. Rose Nnamdi Follow Rose is an astute crypto writer that loves penning content on cryptos, DeFi and other blockchain-based platforms. ![]()
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