Decentralized Bridges to Ethereum

[beam-mw]

Despite providing a lot of value within the Beam chain, it is clear that having the ability to represent wrapped tokens from other networks would provide enormous benefits and possibilities for expansion and adoption. Ethereum as a leading DeFi platform today is clearly the top candidate for such integration. We can think of two possible architectures for Beam <> Eth bridges: federated and decentralized.

In case of a federated bridge, issuance of the asset is controlled by a multisig wallet which should be trusted to monitor and balance amounts locked and distributed on each chain. This solution is relatively straightforward, however does require the trust in the federation that operates it.

Decentralized bridges depend on the ability of all Beam nodes to monitor the state of specific contracts on Ethereum chain and are much more difficult to implement. One way to approach this is to create a two way SPV clients utilizing Beam Fly Client implementation to be able to get proofs from each chain.

[Cryptonics2017]

Christian-2:
From a purely commercial perspective, I think the bridge to Ethereum and the Oracles are the quickest way for BEAM to gain broader adoption and traction.

We need a killer use case, a unique selling point - and I think we need it fairly quickly. At present, Confidential Assets/the Bridge to Ethereum/Oracles, together are the compelling use-cases for the BEAM ecosystem.

Glad to hear that the Bridge to Ethereum will be treated as a high priority.

[dharmesh019]

I agree with @Cryptonics2017 on this one. we need this unique feature to be developed as priority and glad to see that happening soon... we need to be ahead of this confidential DEFI race...