Cross-Chain Bridge in Chimeras. How Will It Work?
Cross-chain technology is vital for modern Web3 products and we at RedPIll understand that more than anyone. In the current state, it is difficult, to use your own crypto assets or exchange in-game tokens for any other cryptocurrency, since the game is built on Binance Smart Chain, which brings stability and security but makes exchanging the information with other blockchains almost impossible, which is why we plan to implement a cross-chain bridge into Chimeras. Here’s how it’s going to work and why it is important.
How Does a Cross-Chain Bridge Work?
So, what is a cross-chain bridge? Essentially, every blockchain is a closed system that cannot exchange or interact with other blockchains. So if you, for example, want to use your Bitcoins on the Ethereum blockchain, you can’t do that. Bridges fix that problem, they, as the name implies, bridge the gap between different blockchains and allow them to interact and exchange information with one another. Let’s use our bitcoin example to demonstrate how it works. A cross-chain bridge holds your BTC and creates an equivalent amount of ETH that you can use, without moving any tokens anywhere. In this case, your BTC tokens get locked in a smart contract, and if you would want to exchange your ETH back to BTC then your ETH tokens will be burned and an equal amount of BTC will return to your wallet.
Cross-Chain Bridge in Chimeras
The Cross-chain bridge in the Chimeras Metaverse will allow users from other blockchains (Etherium, Solana, etc) to easily use their assets and get access to the native CHIM token, which then players can use in-game to buy various items and NFTs. Technically speaking, it will look like a centralized exchange, geared toward the needs of the game. This technology is vital for our project, it is easy to use and allows players to use their existing assets. The process is quick and simple and all of the heavy lifting will be done by our cross-chain solution itself. We understand and value the trust that players put in Chimeras, and we also understand the importance of security, so all of the smart contracts will be completely transparent and audited by our trusted partners.
Fast and Easy Way to Use Your Assets in Game
In short, the cross-chain bridge is a great piece of technology, and using your crypto assets or exchanging in-game tokens is going to be easy, secure and fast. But that’s not all, we will reveal all the secrets and architecture principles in future posts. So, don’t forget to subscribe to our Medium, follow us on Twitter and YouTube, and join our communities in Discord and Telegram. Chimeras Global Launch is getting closer every day and we are very excited to share this journey with you.`