Bridge or Cross-Chain is a solution to solve significant problems of blockchain, some of these problems are lack of interoperability, difficulty to deposit or buy certain tokens and high transaction fees. Bridge is here to enable token transfer services, smart contracts and data exchange on the blockchain, this technology allows users to transfer certain tokens from one blockchain to another blockchain.
Bridge is also useful as a mint-burn token protocol on a particular blockchain, so it is able to become a token supply to keep it constant across all platforms or blockchains.
How to Bridge (Cross-Chain) Work
Examples are Binance Smart Chain (BSC) and Coinex Smart Chain (CSC), both blockchains have different networks, different rules and protocols, through blockchain or cross-chain bridge technology, users can transfer certain tokens from the BSC blockchain to the CSC blockchain. .
the illustration is like this, when a user transfers (bridges) the native BSC coin to the CSC network, the protocol will lock the native BSC and Mint BNB coins or print the BNB token on the CSC network. The value of the CSC network BNB will be the same as the original, there is no difference. The user can also do the opposite, namely the user can return the CSC network BNB to the BSC network BNB.
This makes it very easy for users, to transfer tokens to certain networks, without having to deposit-wd to an exchange that costs a lot of money or fees. cross-chain also shortens the time to be more concise.
How to Bridge or Cross-Chain on Coinex Smart Chain
In this article, we will provide a tutorial on how to bridge tokens or coins from the BSC network to the CSC network, and vice versa.
Bridge BNB (BSC) to BNB (CSC)
I will move the native BNB BSC coin to the Coinex Smart Chain network, you need to prepare a few things
– Prepare coin native BNB (BSC)
Prepare a coin nativ binance smart chain, to do this process, the minimum is 0.02 BNB and requires several small amounts of bnb to pay the transaction fee
– Prepare coin native CSC (CET)
Coin CET is the native coin of the coinex smart chain, you need a small amount of CET to pay the bridge transaction fee.
– Wallet EVM
I recommend that you use the Metamask wallet, because the wallet is easier to use, and don’t forget to set the wallet to the BSC network and the CSC network.
Process Bridge or Cross-Chain
– Go to bridge.coinex.net and connect your wallet
Choose a network, my example uses the BNB binance smart chain, and will move the native BNB BSC coin
– Enter the amount of BNB you want & click SWAP
– Click SUBMIT and Aprove the transaction on the Metamask Wallet
– Transaksi Bridge Completed
After a few minutes (about 3-10 minutes), you will receive a BNB token (CSC network), please check your wallet or check in explorer coinex smart chain
The bridge process is very fast, when we tried it, it only took 3 minutes, the bnb csc network was already in the wallet. This is a very good solution, traders easily move their assets to the coinex smart chain, this will increase the users of the coinx smart chain blockchain
To bridge (the opposite) from the CSC to the BSC/ETH network, the process is the same as above.