XBX Smart Contract Bridging - XBX, the multi-chain token

XBX Smart Contract Bridging

XBX Smart Contract Bridging is a process connecting different blockchain ecosystems to transfer XBX between two wallets. In this truly interoperable blockchain ecosystem, tokens, data and smart contracts can travel between many different platforms. The XBX ecosystem supports bridging via following networks:

Tron

Binance

Polygon

No funds, data or tokens are transferred directly using the blockchain bridge. To create an interoperable blockchain ecosystem, a mint-and-burn protocol enables constant token supply across all blockchain platforms.

Under the protocol when a token leaves from the ABC blockchain, it is either burned or locked while an equivalent token is minted on the opposite blockchain. Similarly, when the token moves back to its original network, the “twin” token is burned or locked.

Bridges operate much like Blockchains under the decentralization spectrum. XBX Smart Contract Bridging operates as a federated bridge, therefore XBX manages and oversees bridge transactions. Federated bridge systems are more reliable and safe compared to trustless contract bridging.

Benefits Of
Blockchain Bridges

Tackles Interoperability

Interoperability is a big issue in the blockchain. Blockchain bridge tackles the issue by building interconnected links that enable communication and interaction between two blockchain systems.

Solve Scalability.

Large blockchain networks like Ethereum and Bitcoin are struggling to process the ever increasing number of transactions because the block time in large blockchain networks is far from being able to run apps with millions of users and serve the practical needs of businesses.


Blockchain bridges, by linking two blockchains, provide a solution to tokens and DApps to leverage opposite blockchain functionality, also building instant payments at the point of sale that takes the load off from the blockchain.

Build Connectivity.

Allowing data and token transferability between two blockchains builds connectivity and allows for mass adoption of the technology.

Reduce Cost.

Leveraging other blockchains that charge less fees helps users and DApps developers to reduce transaction costs and makes the blockchain more viable for transactions of a smaller dollar amount.