Everything to know about Bitcoin Avalanche bridging
Avalanche bridging is mainly known for connecting ERC-20 tokens between Avalanche and Ethereum. But now, its cross-chain ability has expanded to several blockchains other than Ethereum. The latest addition to the list of network's compatible tokens is Bitcoin.
Now, the platform allows cross-chain support for transferring Bitcoins. This means you can trade BTCs and get exposure to Avalanche's ecosystem. Let's look at how your native BTC can be bridged to the AVAX platform!
What's Avalanche bridging?
Avalanche bridging is the capability of the network to work as a cross-chain. It allows the trading of different ERC-20 and ERC-721 tokens on the platform. The contract chain or C-chain of AVAX enables the support for multiple tokens. This has enabled the platform to grow as a diversified ecosystem for DApps.
The bridge was launched last year and developed using the web3 infrastructure of ChainSafe. However, it was limited only to the Ethereum blockchain. But, several other network tokens now enjoy compatibility with the AVAX network.
Avalanche bridging for Bitcoin (BTC)
AVAX blockchain recently also initiated support for native Bitcoin through Bridge. Now, BTC holders can also experience different services of the AVAX ecosystem. On Avalanche they can enjoy secure BTC transactions along with the opportunity to earn better yields.
Like other tokens, Bitcoin is also represented as an ERC20 on the c-chain. The symbol for this token is 'BTC.b,' which indicates that it is bridged from the Bitcoin blockchain. These tokens are backed by BTCs locked in the Bridge enclave.
It uses the innovative technology of Intel SGX (Software Guard Extensions). It is cutting-edge tech that helps solve various challenges of cross-chain transfers making the bridge tamper-proof and highly secure for BTC transactions.
How to bridge Bitcoin to Avalanche?
The first step for Avalanche bridging of BTC is to install the Core Wallet extension on your browser. Next, open the Core app and click the 'plus' button on the right. Here you will find different options, look for the 'bridge' one and click it.
Now, you can change the blockchain to Bitcoin from the dropdown menu. After that, you can transact BTCs to your Core wallet. You can do that by clicking on the 'add Bitcoin' option under the selected blockchain. It will show your BTC address on which you can receive payments. Note it down and send BTCs to it.
Once you have sent the amount to your Core address, add it for bridging. After that, click on 'Transfer' to convert your tokens into bridged ones. And finally, you will be ready to use them on the AVAX blockchain. For further clarification, you can follow this tutorial.
In a nutshell
The Avalanche network's introduction of cross-chain features for Bitcoins through its bridge will help users experience innovative DeFi projects on the AVAX blockchain. Using the Core wallet, you can easily convert your BTCs into ERC20 bridged tokens. The SGX technology is one of the unique features, making it a complete platform for native BTC transfers.
Author: Wasay Ali
Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.