deBridge review

In the world of decentralised finance (DeFi), new tools are constantly emerging that aim to improve interaction between different blockchains. One such tool is deBridge, a universal blockchain bridge. This protocol is designed to simplify the movement of assets and data between blockchains, eliminating the need for centralised services. In this review, we will take a detailed look at how crypto bridges work, the history of deBridge's creation, its unique features, and prospects for further development.

History of the project

deBridge is a prime example of how an idea can grow into a major project that has changed the rules of the game. In 2021, at the Chainlink hack, several enthusiasts proposed a solution to the problem of limited blockchain bandwidth. They won the first place, with more than 140 projects competing.

Immediately after the victory, they began to promote the implementation of their idea and in September 2021 attracted more than $ 5 million in investments. Among the investors were such well-known companies and funds as Animoca Brands, Lemniscap, Crypto.com Capital, and Huobi Ventures. In February 2022, the project received a beta version. The protocol supported work with 5 blockchains, later seven more were added. Over the next three years, deBridge did not slow down the pace of development, adding new networks, testing new protocols and expanding its functionality. Now he has become the best cross-chain bridge.

deBridge features

Now let's take a closer look at the features that make deBridge a unique solution on the market.

Transfer of assets and arbitrary data

One of the most important features of deBridge is its ability to transfer arbitrary data and assets between blockchains. This means that users can not only transfer their own tokens, but also perform operations with metadata, smart contract instructions, and even transfer NFTs between blockchains. This approach allows you to bridge ETH to Solana, create fundamentally new types of applications, such as cross-chain landing services, staking platforms, and NFT marketplaces.

Interoperability of smart contracts

Another important feature of deBridge is the ability to interoperate smart contracts across networks. Imagine a situation where an algorithmic stablecoin protocol on Ethereum wants to place positions in a perpetual contract protocol on Solana or Arbitrum to support price pegging. Without deBridge, such an operation would be complex and costly. But with deBridge, this procedure is performed smoothly and reliably, providing a link between ecosystems.

NFT compatibility

The support for NFTs in the deBridge protocol is worth mentioning separately. Users can transfer their NFTs between blockchains while preserving the unique logic of these digital objects. This is especially relevant for artists, gamers, and virtual land owners who value the mobility of their assets.

Creating your own bridges

One of the unique aspects of deBridge is the ability to create your own customised bridges. Developers can create a Solana bridge or adapt the protocol to the specific needs of their projects by configuring the parameters of interaction and transferred assets. This significantly increases the appeal of deBridge for large market players who want to maintain control over their own funds.

High performance and scalability

The deBridge exchange is designed to handle high loads and provide fast response times even with a large number of requests. The use of a horizontally scalable architecture allows new transaction processing blocks to be added, which has a positive effect on network speed and throughput.

How deBridge works

To fully understand how BNB Bridge works on deBridge, it is important to understand the structure of the protocol and its basic components. The deBridge protocol operates on a two-tier architecture, including the protocol layer and the infrastructure layer.

Protocol layer

The protocol layer consists of a set of smart contracts deployed on each blockchain supported by deBridge. These contracts are responsible for asset management, routing cross-chain transactions, verifying validator signatures, and achieving consensus among them. A key aspect of this layer is the concept of unique transaction identification (Submission ID), which allows each operation to be uniquely identified and its status tracked.

The protocol layer is responsible for managing key parameters such as fee sizes, supported blockchains, the list of authorised validators, and the reward payout ratio.

Infrastructure level

At the infrastructure level, there are trusted validators who play a crucial role in the transaction verification process. Validators run deBridge nodes in parallel with full nodes of each supported blockchain. Their task is to monitor the status of transactions and verify the correctness of the processes. All transactions carried out through deBridge are thoroughly checked by validators. Only after the required number of validators confirm the transaction will it be recognised as successful and processed by the system.

Architectural principles

In addition to its two-tier architecture, deBridge is characterised by a number of architectural principles aimed at improving the security and stability of the protocol: The principle of trust. The activities of validators are based on the trust of the community. Any attempts to falsify transactions result in penalties that reduce the value of their security deposits. Finality declaration. Each transaction must reach a certain level of confirmation on the source blockchain before it is considered final. Commission size regulation. The commission size is dynamically regulated based on network load and service demand. The security and stability of the protocol are ensured by a combination of economic incentives and penalties. Validators are required to contribute certain amounts as a guarantee of honesty. For violations of the established rules, they may be subject to penalties up to the complete loss of their deposit. This system motivates validators to act in good faith and be responsible in fulfilling their obligations.

Features of the deBridge cross-chain protocol

The main task of deBridge is to provide the ability to transfer assets between blockchains. For example, a user can quickly and securely transfer their cryptocurrencies from one network to another. To date, the protocol supports Ethereum bridge, Base bridge, BNB Chain, Heco, Polygon, Arbitrum and a number of others.

The deBridge swap process is implemented as follows: locking and issuing ‘wrapped’ assets; the asset is locked in the original network, and its synthetic analogue (‘deAsset’) is created in the secondary network; when reversed, the asset is burned in the secondary network and released in the original. This approach guarantees that each token locked in the original network is fully covered by the corresponding ‘wrapped’ asset in the target blockchain. The use of the protocol is accompanied by a small commission consisting of two parts: a fixed amount expressed in the base currency of the blockchain and a percentage of the total cost of the liquidity bridge (usually 0.1%). These fees are necessary to cover the costs of maintaining the infrastructure and incentivising validators.

Instructions for exchanging tokens using DeBridge

To exchange tokens via MetaMask wallet using the DeBridge protocol, follow these steps: Open the official DeBridge website and click on the ‘Bridge’ button. Select the network and tokens. From the drop-down list, select the source network (e.g., BNB Chain) and the source token (e.g., BNB). Then select the destination network (e.g., Polygon) and the destination token (e.g., MATIC). Fill out the exchange form. Enter the number of tokens you want to exchange. Note the exchange result calculation at the bottom of the form. Check the transaction route. See the route that the protocol will choose for your exchange. Make sure that the commission size and the final amount are acceptable to you. Confirm the transaction. Click the ‘Confirm Transfer’ button. MetaMask will prompt you to sign the transaction — carefully review all the details and click ‘Confirm.’ Complete the exchange. After approving the transaction, wait for it to be processed. Monitor the status of your transaction on the website page.

If everything is done correctly, your MATIC tokens will appear in your MetaMask wallet on the network you selected.

deBridge tokenomics

The deBridge token is called DBR and is the main tool for managing the ecosystem. The token distribution is as follows: Community and launch (20%); Ecosystem (26%); Key participants (20%); deBridge Foundation (15%); Strategic partners (17%); Validators (2%). The DBR token is used to participate in voting and decision-making within a decentralised autonomous organisation, to increase network security through delegated staking, and to receive a share of commission payments.

In the future, the DAO will take over most of the management functions, including smart contract updates and infrastructure development.

Analysis of advantages and disadvantages

Advantages

Ease of use. deBridge offers an intuitive interface that facilitates operations. High security. The presence of multi-level protection and a penalty system guarantees the reliability of transactions. Wide range of supported blockchains. The ability to connect to virtually all known blockchains gives the project a significant competitive advantage. Fast transaction processing. The average transaction time is a few minutes, which sets deBridge apart from its competitors.

Disadvantages:

The need for native assets. Users must have native assets from each network involved in order to pay commissions. Lack of support for some exotic assets. While deBridge focuses on popular cryptocurrencies and tokens, some rare assets remain unsupported. Regulatory risks. Potential regulatory changes in different countries may affect the project's activities.

Conclusion

In summary, deBridge is the best crypto bridge and an important link in the evolution of decentralised finance. By providing a convenient and secure way to transfer assets and data between blockchains, deBridge contributes to the growth of DeFi's popularity and creates conditions for the emergence of new interesting projects and initiatives. This protocol has the potential to take the industry to a new level by making DeFi accessible and convenient for a wide audience.