A blockchain bridge is a connection that allows tokens and/or arbitrary data to be transferred from one chain to another. Both chains may have different protocols, rules, and governance models, but the bridge creates a reliable mechanism for both chains to interoperate.
There is a lot of diverse bridge designs, but they may generally be classified into two categories: more centralized bridges that rely on trust or federation, and more decentralized, trustless bridges.
Allbridge is a decentralized, modular, and expanding token bridge with on-chain consensus. It's a simple, modern, and reliable way to transfer assets between blockchain networks. Allbridge mission is to make the blockchain world borderless and provide a tool to freely move assets between different networks. In the future it will evolve into a DAO-style multi-chain hub, establishing connections between the EVM and non-EVM networks.
Affordability. Our fee is very low – we make cross-chain accessible to everybody.
Simplicity. The interface is very clean and easy to use. You can send assets in a few clicks.
Speed. Our technology is very quick. With Allbridge users save a lot of precious in crypto world time.
Everybody can add a token to the Allbridge via our special interface. Users and holders can stake our token, add theirs and give the holders the ability to move it to the different blockchains.
What makes Allbridge so unique is the fact that it uses an on-chain consensus. Typically, a bridge consists of a smart contract, a network of oracles, and a smart contract on the destination blockchain used to accept the input from active oracles and mint new tokens to the recipients.
However, it is our belief that oracle (or validator) consensus should be reached on-chain. This is exactly why the proof of concept launches first on Solana, as on-chain consensus would require a fast blockchain with tolerable transaction fees.
In addition to stability, on-chain consensus provides overall system transparency. Every validator transaction for every transfer can be verified with the help of a regular block explorer, and, if something goes wrong, it can be identified immediately. A separate block explorer will be implemented to monitor bridge transfers.
Not all blockchains are created equal. Some are not so widespread, the others are quite expensive to operate. All are welcome to Allbridge. Validators can pick and choose which blockchain they want to support. Blockchains can incentivize validators for better coverage.
While a majority of validators have to confirm bridge transactions, only one signature from one validator is enough to make a transfer. This is achieved by validators checking not only incoming but also outgoing transactions in the networks they support.
Usually, multi-chain bridges fall into a trap of requiring every validator to monitor all the supported blockchains. This leads to great inflexibility, since adding a new blockchain requires the support of all validators. Instead, a different approach was chosen, where validators are offered the right to decide which blockchains they support. This way they can rely on their unique technical expertise and focus on blockchains they find most important.
Allbridge also uses activity monitoring to generate periodical reports to the system’s contract, tracking the support of a selected blockchain by validators. This way, the number of active validators for every blockchain can be aggregated to identify the majority needed to support it.