An overview of cross-chain bridges in DeFi

Time Stamp: June 17, 2021 9:42 AM
Source Node: 926741

June 17, 2021, 9:42AM EDT

• 13 min read

Quick Take

  • Cross-chain bridges are becoming increasingly important pieces of the DeFi ecosystem as value continues to be spread amongst a growing list of blockchains
  • Currently, most bridges transfer assets between chains by locking source assets and minting wrapped assets on the destination chain
  • With sufficient liquidity in the future, cross-chain bridges like multichain.xyz or THORChain can enable decentralized asset bridging without requiring custody of assets

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Source: https://www.theblockresearch.com/an-overview-of-cross-chain-bridges-in-defi-106959?utm_source=rss&utm_medium=rss

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