Gitshock Bridge

Overview

Blockchain technology has come a long way since 2008 when the Bitcoin white paper was published. Since then, an explosion of blockchain networks have been created, with a huge variety of designs and intended functionality. A blockchain bridge is a connection that allows the transfer of tokens and/or arbitrary data from one chain to another. Both chains can have different protocols, rules and governance models, but the bridge provides a compatible way to interoperate securely on both sides.

There are many different designs for bridges, but they can generally be divided into two camps: more centralized bridges that rely on trust or federation, and so-called “trustless” bridges that are more decentralized. Centralized bridges rely on some type of central authority or system to operate, meaning that users are required to place trust in a mediator to use a given app or service.

The Gitshock Bridge idea is to transfer GTFX token assets from one chain to another by burn and mint mechanism. The main task of this bridge is to burn tokens on one chain and issue new equal assets on the other chain. Unlocking the assets at some point in the future when they are sent back across the bridge.

The blockchain pairs could be 8 blockchains where GTFX was minted + Gitshock Mainnet.