βοΈAddressing Multi Chain Challenges
Section | Description |
Introduction | Extending BRC20 standard for cross-chain compatibility, decentralization, and compatibility with smart contract chains. |
Technical Requirements | Custom indexer, destination chain contract, BTC-Relay smart contract for Bitcoin verification. |
Use Cases | Facilitates access to decentralized financial protocols, enabling advanced DeFi opportunities. |
Protocol | Introduces Bridge-out and Bridge-in operations for token transfer between Bitcoin and destination chain. |
Deploy on Destination Chain | Smart contract requirements for minting wrapped tokens based on valid transaction proofs. |
Bridge-out | Locks BRC-20 tokens on Bitcoin and mints wrapped tokens on the destination chain. |
Bridge-in | Burns wrapped tokens on the destination chain and mints BRC-20 tokens on Bitcoin. |
Indexer Behavior | Verifies mint and bridge-in events, updates token balances, and total bridged-out amounts. |
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