Scalability and Cross-Chain Bridges Ep #55

<p>Live from Breakpoint 2021, Austin Federa (Solana Labs) moderates a discussion about the transfer layer and cross-chain bridges with Hendrik Hofstadt (Jump Crypto), Bryan Pellegrino (LayerZero), Alex Smirnow (deBridge) and Andriy Velykyy (Allbridge.io).</p><p> </p><p>00:10 - Intro</p><p>02:50 - The importance of bridges not relying on Trust</p><p>04:28 - Moving wrapped assets</p><p>12:00 - Capital Efficiency of Bridges</p><p>14:02 -  Future of bridges</p><p>16:28 - Integration of bridges</p><p> </p><p>Austin (00:10):</p><p>All right. Welcome guys. We're here to talk today about the transfer layer, scalability, cross chain bridging, the technical problems, the operational problem, the UX problems. This is just a panel of problems today, but it's also a panel on opportunities. We've seen a huge amount bridge over between other protocols in solana between other protocols and other protocols. We think of bridges as something new, but bridges are how DeFi has used Bitcoin as collateral for quite a long time at this point. It's kind of funny to think about how this started as we're taking an asset that's considered quite stable and solid that has no smart contract ability and being able to use that in Ethereum and that early day work really set the stage for, I think, a lot of what we're seeing today.</p><p>Austin (00:55):</p><p>But bridges go far beyond just this idea of how do I move something from chain A to chain B. There's roles in them as being decentralized ways to pass messages between different chains. There's a role for them in making users feel safe about trading across chains, and there's a role about them, about creating an exit ramp too. So that if you do something like buy an NFT for $69 million, you're not dependent on one chain to hold that. There's an ability migrate in a decentralized and trustless way. So we're getting into a bunch of that today. I'd say, let's just go ahead down the line and give a quick introduce to yourself and your project.</p><p>Hendrik (01:31):</p><p>Sure. I'm Hendrick. I'm