Cross-Chain Bridging 101

Cross-Chain Bridging 101
0 minute readJul 12, 2024 at 13:16

TLDR

  • Cross-chain bridging enables asset transfers between different blockchains to solve the problem of siloed assets in separate blockchain ecosystems
  • Bridging typically uses a lock-and-mint system to transfer assets. For users, the process involves setting up a wallet, connecting to a bridge, and initiating the transfer
  • Popular bridges for Solana include Wormhole, Allbridge, Mayan Finance, and DeBridge

By this point in your Solana journey, you’re aware of the huge impact that blockchain technology is having in sectors ranging from finance to art to gaming. But this incredible growth has taken place across many different chains — like Bitcoin, Solana, Ethereum, or any of the dozens of active blockchains that make up web3. This has created a new challenge: interoperability between blockchains.  

For many years, assets that lived on one chain could not be easily transferred or used on other chains. For example: You couldn’t utilize your Bitcoin on Ethereum, or couldn’t access your Solana NFTs on BNB chain. This meant that assets, wallets, and any web3 experiences were stuck siloed in one blockchain ecosystem. Of course, you could trade one crypto for another easily one a centralized exchange, but you couldn’t make use of tokens outside of the chain they were created on. 

Cross-chain bridging is a solution to this problem. It’s a technology that allows different blockchain networks to communicate and transfer assets seamlessly across one another. This interoperability is crucial for a truly interconnected blockchain ecosystem, allowing you to enjoy multiple platforms without being confined to a single network. 

Most often, cross-chain bridging is used as a decentralized method to move funds from one chain to another. Cross-chain tech opens up a world of possibilities and makes web3 possible. DeFi applications can now access liquidity pools across multiple blockchains, NFT creators can expand their market reach, and developers can build dApps that interact with multiple chains seamlessly. Solana, with its high-performance architecture, has emerged as a key player in this space, and a whole ecosystem of bridging solutions has emerged for crypto natives from other chains to easily access the Solana ecosystem. 


Learn everything you can do with DeFi on Solana today, and get all the tools you’ll need to succeed with our Getting Started with Decentralized Finance guide.

How Bridging Works

When you use a bridging platform or service on Solana, the process typically involves locking assets on the source chain, minting equivalent tokens on the target chain, and burning tokens when assets are moved back. This process is often referred to as a lock-and-mint system, though other mechanisms do exist as well. This system works by:

  1. Locking assets on the original blockchain

  2. Creating an equivalent amount of assets on the target blockchain. 

When moving assets back, the process reverses:

  1. The wrapped asset is burned (destroyed) on the target blockchain

  2. The original locked asset is released on its native blockchain

This method doesn't change the total supply of the original asset. Instead, it creates a ‘wrapped’ version on the new blockchain. This burning and releasing approach ensures the overall supply remains consistent across both blockchains. Smart contracts play a crucial role in this process by automating these cross-chain transfers, while today’s Solana bridging products have become much more advanced and convenient to use than in years past.

Cross-Chain Bridges that Support Solana

Wormhole — Decentralized bridge with a focus on speed and security that supports crypto and NFTs across multiple chains including Ethereum, BSC, Polygon, Avalanche, and Solana

Allbridge — User-friendly bridge linking Solana with over 15 blockchains, utilizing smart contracts and oracles to facilitate transfers of both fungible and non-fungible tokens.

Mayan Finance — One-click swaps from Solana built to achieve the best rates for users.

DeBridge —  Decentralized protocol that allows users to transfer assets and data between different blockchain networks like Ethereum, Polygon, BNB Chain, Arbitrum, and Base.

How to Get Started with cross-chain bridging

Here's a step-by-step guide to get started with cross-chain bridging on Solana, using Solflare as your wallet:

Set up a Solflare wallet:

  1. Go to solflare.com
  2. Click "Create New Wallet"
  3. Follow the prompts to set up your wallet and save your seed phrase securely

 

Fund your Solflare wallet:

  1. Send SOL to your wallet address
  2. Ensure you have enough SOL for transaction fees

 

Connect your wallet:

  1. Head to your preferred bridging app
  2. Click "Connect Wallet"
  3. Select Solflare from the list of options

 

Select your source and destination chains:

  1. Choose Solana as either the source or destination
  2. Select the other blockchain you want to bridge to/from

 

Choose the asset to transfer:

  1. Select the token you want to bridge
  2. If bridging to Solana, make sure you have the token on the source chain
  3. If bridging from Solana, ensure you have the token in your Solflare wallet

 

Enter the amount to transfer:

Specify how much you want to bridge. Check the fees and confirm you're comfortable with them

 

Provide the destination address:   

  1. Connect your wallet on the destination chain
  2. Double-check this address to avoid losing funds

 

Initiate the transfer:

  1. Click "Transfer" or "Bridge" button
  2. Confirm the transaction in your Solflare wallet

 

Wait for confirmation:

The bridging process may take a few minutes. Don't close the browser window during this time!

 

Verify the transfer:

Check your destination wallet to confirm receipt of funds. This may take a few minutes depending on network congestion

 

There are some complications that may arise from using two chains in one transaction. For example: Ethereum functions more slowly than Solana, so transactions may take longer than you’re used to to confirm when bridging between the two.  And bridges like Mayan Finance and Allbridge accommodate the gas transaction fees across chains into the bridging transactions, while other bridges may not provide this feature. This is important, because without holding the native asset in your wallet, you will not be able to pay for transactions. 

Remember: always start with a small test transaction when using a new bridge or transferring large amounts. Cross-chain bridges carry risks, so make sure you understand the process and trust the bridge provider before proceeding.

Ready to explore DeFi? Read our Intermediate Guide to Decentralized Finance. Need to brush up on the basics? Head to Getting Started with Decentralized Finance

Edited: Sep 13, 2024 at 17:25