Blockchain bridges enable cross-chain asset transfers, connecting networks like Polkadot (DOT), Avalanche (AVAX), and $ONE

ONE

0.00357

+0.56%

Harmony (ONE). Bridges, like Polkadot’s parachain bridges or $AVAX

AVAX

12.06

+2.29%

AVAX’s bridge to Ethereum, allow tokens to move between ecosystems, enhancing interoperability. ONE’s Horizon bridge supports fast, low-cost transfers. They lock assets on one chain and mint equivalents on another, relying on smart contracts or validators. However, bridges are vulnerable to hacks, as seen in 2022 hexploits , due to weak contract code or centralized control.$DOT

DOT

1.867

-0.48%

DOT’s relay chain mitigates risks with shared security, but AVAX and ONE bridges face single-point failure risks. Robust audits and multi-signature schemes are critical to secure cross-chain transfers.

#BlockchainBridges #Interoperability #Crypto #Security #DeFi