What is a bridge?
01 A blockchain bridge, also known as a cross-chain bridge, establishes a connection between two separate blockchains, enabling the transfer of cryptocurrencies from one chain to another. In simple terms, if you possess Bitcoin but wish to use it as Ethereum, you can do so through the bridge.
02 One of the significant challenges in the blockchain space was the lack of interoperability. While each blockchain operates efficiently within its own domain, they often face limitations and barriers when it comes to working together. This can result in high transaction costs and congestion.
03 Blockchain bridges offer a solution to this problem by enabling the seamless transfer of tokens, smart contracts, data, and other instructions between independent platforms. These bridges act as neutral zones, allowing users to switch between different blockchains that mint different coins and operate on distinct sets of rules. By providing access to multiple blockchains through a unified network, the crypto experience is greatly enhanced for users.
How does a cross-chain bridge work?
01 How cross-chain bridges function can be likened to changing fiat money for chips at a casino. Let’s say a user holds Token A on Blockchain A and wants to move their Token A holdings to Blockchain B, which has a native token, Token B.
02 To do this, they send their Token A holdings to a cross-chain bridge, which will simultaneously hold them and create an equivalent amount of Token B for the user on Blockchain B. The user’s Token A holdings are not actually transferred from Blockchain A to Blockchain B but are instead locked in a smart contract that grants them access to the same amount of holdings in Token B.
03 The same happens when the user wants to convert their Token B holdings on Blockchain B to Token A on Blockchain A. The smart contract will burn (destroy tokens) or release from custody the amount of Token B the user has and create an equivalent amount of Token A.
How to bridge $JMPT?
You can bridge your $JMPT via Portal Bridge.
The bridging process is simple and straightforward. Firstly you need to select the Source and Target Networks and connect your wallet. Next, please select the token you want to bridge by entering $JMPT contract address on the selected network. Consequently, you will need to confirm the transactions, pay the gas fees and your $JMPT will be bridged from one network to another.
Please note that in order to bridge your $JMPT you will be required to pay the gas fees in both $BNB and $CELO. Please make sure that you have a substantial amount of $CELO and $BNB before proceeding with the bridging process.
Here is a step-by-step demonstration how the Bridging process from Celo $JMPT to BSC $JMPT, via Portal Bridge is done:
1. Select Source and Target Networks and connect your wallet.
2. Confirm the Target Network and make sure you follow Network Switch Requests on your connected wallet.
3. Approve your tokens.
4. Transfer the $JMPT to the Wormhole Token Bridge.
5. Confirm the transfer and double-check that the chains are correct.
6. Now your $JMPT are "inside" the bridge and it's time to Redeem them.
7. After you have redeemed your tokens, the $JMPT will be on the Binance Smart Chain (BSC).
Please find below a video example that has been meticulously prepared by our dedicated Community Moderators. This video serves as a helpful resource to guide you through the Bridge process.
In this informative video, our Community Moderator demonstrates step-by-step instructions on how to successfully navigate the Bridge process. Whether you're a new user or looking for a refresher, this video offers valuable insights and practical tips to ensure a smooth and seamless experience.