This year, too, we would like to sweeten the Advent season for our readers with an Advent calendar. In a somewhat different form, each door contains a “knowledge bomb”, which will be supplemented on Christmas Day with an extraordinary special prize.
Behind the tenth door is the term “Bridge”. To enter the giveaway on the 24th, simply take part in the polls and like the respective Twitter posts.
Bridge
With the emergence of alternative smart contract platforms such as Solana, Avalanche and Fantom, the ecosystem of decentralized financial applications (DeFi) has increasingly diversified from the pioneer Ethereum into a multi-chain world. An integral part of this “multi-chain” ecosystem are so-called bridges. They allow users to quickly transfer tokens from one blockchain to another.
In the past, however, those bridges turned out to be critical points of attack. This fact was impressively confirmed this year. Just the three largest bridge hacks of the year (Ronin, BNB Bridge & Wormhole) together amounted to over USD 1.5 billion. These bridges thus represent a significant weak point in the blockchain infrastructure and clearly hinder the multi-chain future.
