Now that you understand some of the fundamentals and philosophy that comprise web3, let’s dive into some of the components that help Ethereum more efficiently handle a higher volume of activity, while also connecting Ethereum with other blockchains.
Blockchain networks exist as parallel universes. They are typically unaware of each other—Bitcoin, Ethereum, and BNB Chain, for example, are all separate blockchains. So that begs the question, “How do you get things from one chain to another?”
Enter, blockchain bridges: a concept you’ll often encounter as you dive deeper into web3.
Like the name suggests, bridges connect separate networks, allowing you to move tokens from one network to another. Without them, each network would remain isolated.
As some philosopher once said, “No blockchain is an island, entire of itself. Every network is a piece of the ecosystem, a part of web3”
Here are some of the reasons you may want to bridge:
- Buy different cryptocurrency tokens
- Mint an NFT only available on a specific network
- Save money with cheaper transactions
- Transact faster
- Use a dapp only available on another network.
So now you understand, bridges allow for different chains within the Ethereum universe, and without, to connect. This creates a flourishing web3 ecosystem with more pathways for participation, communication, and coordination.
Bridging Blockchain Networks
Bridges connect separate blockchain networks, allowing me to move tokens across and communicate with multiple networks
Layer 2 networks are additional networks built on top of a blockchain that I can bridge to to save time and money
Bridges and layer 2 networks help grow web3 and keep it interconnected
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