Let's understand with an example:
- Bob holds some amount of XYZ token on Ethereum chain. And he isn't sure what to do with it 🤷♂️
- Let's say a Defi protocol (like Compound finance) gives an APR of 11% for the XYZ token on Ethereum blockchain. Bob is happy 🤑
- Now Bob discovered, on some other chain the APR is 20% for the same XYZ token. But how will Bob get his XYZ tokens to other chain from Ethereum? Bob is sad 😕
- A bridge is what Bob needs to get his tokens from Ethereum to some other chain. Bob is excited 🥳
- Made an ERC20 compilent "Bridge Testing Token (BTT)"
- Developed a completely decentralized bridge between Ethereum (Ropsten) and Binance Smart Chain (BSC Testnet).
- BTT can be transfered effortlessly between the chains using this bridge.
- But wait, is this transferring free? Unfortunatly, no, user needs to pay the gas fees to execute transactions on blockchain.
- I have developed a Dapp that allows user to use this bridge. Link: https://bridge-eth-bsc.netlify.app/
- You can email me your ETH/BSC address at rssavant34@gmail.com
- I will transfer some BTT to your address so that you can play around with the bridge.
- I also plan to make a ETH <-> BSC <-> Polygon bridge.
- The Polygon bridge can be integrated with the existing ETH <-> BSC bridge for BTT token, but there are some edge cases which needs to be taken into consideration.