Process
BTC to other EVM network
OrdiLend's cross-chain bridge operation process is meticulously designed to ensure security, efficiency, and user-friendliness. Here's an overview of how it works, specifically tailored for inscriptions:
Setting Up Multisig Wallets
The process begins with the creation of multisignature (multisig) wallets automatically on the source blockchain (e.g., Bitcoin). These wallets require multiple keys for transaction authorization, with each key typically controlled by a different entity to ensure decentralized security.
Asset Locking
Users initiate the cross-chain transfer by "locking" their assets into the multisig wallet. This is done by sending their blockchain inscriptions, or associated tokens, to the wallet's address through a standard transaction on the source blockchain.
Bridge Operation Recognition
Once the assets are locked in the multisig wallet, the OrdiLend bridge recognizes this action. This recognition is facilitated by bridge components such as relayers or smart contracts, which monitor the source blockchain for such locking transactions.
Issuance on the Target Chain
Upon verification of the locked assets, the bridge issues an equivalent amount of tokens or inscriptions on the target blockchain. These issued assets represent the original inscriptions locked on the source chain and can be specific to the bridge or standard tokens on the target blockchain.
Asset Unlocking and Reversion
When users wish to transfer their assets back to the original blockchain, they start by "unlocking" or destroying the equivalent amount of tokens on the target blockchain. This action signals the bridge to initiate the reverse process.
Release from Multisig Wallet
Following the user's action on the target chain, the bridge instructs the multisig wallet on the source blockchain to release the originally locked assets. This instruction requires authorization from the multiple key holders, ensuring security.
Completion of Cross-Chain Transfer
The assets are then returned to the user on the original blockchain, completing the cross-chain transfer cycle. The entire process is recorded transparently on both blockchains, providing a clear audit trail.
OrdiLend's cross-chain bridge operation leverages the security of multisignature wallets and the efficiency of automated bridge components to provide a seamless, secure, and transparent method for transferring inscriptions across different ecosystems.
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