What Is blockchain bridge And How They Work?
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What Is blockchain bridge And How They Work?
What is blockchain bridge? To grasp the concept of a blockchain bridge, it’s important to have a basic understanding of what a blockchain is. Blockchains like Bitcoin, Ethereum, and BNB Smart Chain are prominent ecosystems that rely on different consensus protocols, programming languages, and system rules. A blockchain bridge serves as a protocol that connects…
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What is a blockchain Layer 1 vs. Layer 2?
Layer 1 and Layer 2 are terms used in blockchain technology to describe different levels of network architecture. Layer 1 represents the primary blockchain layer, which serves as the foundation of a blockchain network. Examples of Layer 1 blockchains include Bitcoin, Ethereum, and BNB Chain. These networks handle the main transactions and data storage of…
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What is a blockchain oracle?
Blockchain oracles serve as crucial bridges between blockchains and the real world, allowing smart contracts to access external data sources. They enable the integration of off-chain events and information into on-chain applications, verifying data accuracy and facilitating secure transmission. By leveraging blockchain oracles, various types of data, such as token prices, stock market updates, sports…