MultiBaas Bridge
Curvegrid's MultiBaas Bridge is a cross-chain portal that facilitates fast, reliable, secure movement of digital assets between blockchain platforms. It moves ERC20, ERC721, and ERC1155 assets bidirectionally between public blockchains, including Ethereum, Binance Smart Chain, and xDai.
Challenges
Digital assets may exist on multiple blockchain platforms. Moving assets between blockchains is difficult, but it can be accomplished by removing an asset from a source blockchain, and creating it on a target blockchain.
The following diagram illustrates a sample asset transfer flow and works as follows:
- Transfer: the asset owner sends the ERC20, ERC721, or ERC1155 asset to a well known MultiBaas Bridge address.
- Event triggered: MultiBaas Bridge is monitoring the events on the address, and uses the Transfer event as its queue to initiate a cross-chain asset transfer.
- Sign: the appropriate burn and mint transactions are signed by an enterprise wallet.
- Lock/Burn: the asset is locked or burned (removed) from the source blockchain.
- Unlock/Mint: the asset is unlocked or minted (created) on the destination blockchain.
MultiBaas Bridge Features
Solid Foundation
MultiBaas Bridge is built to work with leading blockchain platforms (Ethereum, Binance Smart Chain, xDai, etc.) and based on MultiBaas blockchain middleware. Using MultiBaas simplifies complex low-level blockchain tasks.
Decentralized
Multiple relayers ensure that only valid transactions are passed between blockchains. Administrative functionality is delegated to an integrated multisignature wallet for further security.
Finality
Ethereum guarantees only eventual consistency, and chain reorganizations are a constant reality. The number of blocks to wait is configurable on a per-blockchain basis. For example, wait one block on BSC, and wait six blocks on Ethereum.
Transaction Fee Flexibility
The burn and mint transactions have a transaction cost. This could either be covered by the operator, or payable in ETH or another asset at the time the transaction is made.
Mint/burn, and lock/unlock
Some assets cannot be minted/burned at will. They may have a fixed supply, or be unique. In that case, the contract will lock the asset in custody on the source chain, and unlock the asset on the target chain. Minting on the target chain can either be done by MultiBaas, or by the asset creator.
Case Study
MultiBaas Bridge for DVISION NETWORK
Dvision (South Korea) is building an immersive VR city based on blockchain where their customers can list, sell, and purchase unique digital items in a VR marketplace.
Dvision’s customers wanted the ability to transfer digital assets between the Binance Smart Chain and Ethereum blockchains to optimize for low cost, high speed transactions vs. better liquidity.
Dvision’s customers transfer their digital assets between different blockchains over MultiBaas Bridge directly within the Dvision VR app without switching to a different app or website.
- Customer comment: “Integrating MultiBaas Bridge into our solution took far less time than expected. We didn’t need any specialized blockchain knowledge to do so.“
- Development lead-time: 2 weeks
- Cost : 10x less than developing from scratch
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