TeraBlock Cross-Chain Bridge
TeraBlock Cross-Chain Bridge will enable TBC holders to seamlessly move their TBC tokens between the Binance Smart Chain (BSC) network and the Ethereum Mainnet
One of the Biggest problems with Blockchain technology is the lack of interoperability between different chains. Applications built on one chain cannot operate on another, restricting users from availing of benefits offered by other chains. This is problematic in many ways. Lack of interconnectivity between blockchains leads to congestion on networks, scalability issues, and higher operational costs.
To enable compatibility on as many chains as possible, we have built a Decentralised Bridge. In the first phase, the bridge will allow TBC holders to move their TBC tokens from one chain to another. This will remove the dependency on centralized wallets for those who prefer the control of their private keys (“Not your keys, not your coins”) and will enable cross-chain movement using Metamask or Trust wallet, for example. This will increase the “composability” of TBC tokens across different networks and chains, enabling us to explore staking, LP, lending, and other such DeFi tie-up opportunities across chains.
  • TeraBlock Bridge is a robust and reliable interchain bridge built to enable interoperability between different chains operating under different consensus rules. It allows traders to optimize their holdings by leveraging the benefits of multiple blockchains.
  • Offering quick and easy cross-chain token exchange to provide a glitch-free trading experience to users, the TeraBlock Bridge helps users in reaping the benefits offered by projects on different chains.
  • TeraBlock Bridge uses the mint-and-burn process to transfer tokens from one party to another by burning a particular amount of tokens on one chain and creating tokens of equivalent value on another blockchain. This means that for every cross-chain transfer, the mechanism will first burn the token on the original blockchain and then mint a token of equivalent value on the other chain.
  • Bridges can be both centralized and decentralized. Whereas decentralized bridges operate on pre-configured smart contracts, centralized bridges have an intermediary that monitors the entire mint-and-burn process. The exact process however may vary from one project to another.
This gatekeeper model is used to ensure the Total supply of TBC in circulation doesn’t change at any point in time. The minting of the BSC TBC tokens is done only after the locking event of an equivalent amount of Ethereum TBC tokens is broadcasted and validated by the network.
In the second phase of the TeraBlock Cross-Chain Bridge, we will integrate more blockchains into the bridge for increased compatibility across different blockchains. We will also be supporting more assets to be used on the bridge.
Last modified 2mo ago
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