Technical Implementation

Multisig Wallet Locking

The cornerstone of OrdiLend's cross-chain bridge security is the implementation of multisig wallet locking, addressing the pivotal concerns of safety and trust in cross-chain transactions.

Technical Implementation and Principles:

Setting Up Multisig Wallets:

On networks like Bitcoin, a multisig (multisig) wallet is established, requiring multiple keys (often controlled by separate entities) to jointly authorize a transaction. For instance, a 2-of-3 multisig wallet necessitates any two out of three keys for transaction approval.

Asset Locking:

Users "lock" their assets, intended for cross-chain transfer, by sending BRC-20 to the multisig wallet address. This locking action is typically executed via a standard Bitcoin transaction. a

Bridge Operations:

Once BRC-20 is locked in the multisig wallet, other components of the cross-chain bridge (which may include smart contracts on the target chain) recognize this action and issue a corresponding amount of tokens on the target chain, representing the locked BRC-20. These tokens might be bridge-specific or standard tokens on the target chain (e.g., $ORDI tokens).

Asset Unlocking and Reversion:

To transfer assets back to the Bitcoin chain, users must first destroy or lock the corresponding amount of tokens on the target chain. The cross-chain bridge's relayers or smart contracts then instruct the multisig wallet to release the equivalent amount of BRC-20 to the user.