What is a Decentralized Bridge?

A decentralized bridge is a system that facilitates the transfer of assets between two different blockchain networks without relying on a centralized authority. Using smart contracts and cryptographic mechanisms, decentralized bridges enable users to move assets from one blockchain to another by locking assets on the origin chain and minting equivalent tokens on the destination chain. This enhances the interoperability of different blockchains, enabling cross-chain asset transfers, liquidity sharing, and broadening the scope of decentralized applications (dApps).