A Place With Function of Cross-chain Bridge for Users, but All Tolls Free!
Various types of blockchains emerge one after another every day just like islands of different sizes rising here and there on a vast ocean. As each island has its inhabitants, each blockchain has its users. Then people from one island may also want to visit another island. How can they get there then? By a ship? How else, more conveniently? Building a bridge between two islands will certainly do! A bridge between blockchains is a cross-chain bridge, or it can be called a blockchain bridge.
Cross-chain bridge can enable the transfer of crypto assets, tokens, data and smart contract instructions from one blockchain to another, including blockchain of Layer 1, Layer 2, sidechain, etc.
Just as islands want to trade different commodities and exchange cultures with each other, blockchains also need to transfer funds and information to each other, and cross-chain bridge comes into being and pave the way for them.
Every blockchain has its own rules and consensus protocols and users in every blockchain must obey its rules to keep the chain safe, which on the one hand contributes to a certain protected ecosystem of each blockchain but on the other results in limitations for each. Then these limitations cause that no communication or transactions can be made directly between blockchains. What’s more, almost every blockchain has its own currency standard and it is rather inconvenient for users to deal with the currency of one blockchain after another. Cross-chain bridges just can make it easier to transfer funds and information from one chain to another.
For example, users who want to transfer assets from Solana to BSC once had to go through many steps from transferring assets from FTX to Solana and then to BSC and deposit to Binance, but now with the help of a cross-chain bridge, they can do just by a transaction through a bridge. Then this transaction can be called a cross-chain transaction. In cross-chain transactions, multiple blockchain parties exchange their assets.
However, most cross-chain bridges have two main problems which have not been solved. One is the fee for transfers. Users usually have to use exchanges to transfer assets across chains, and almost all exchanges will charge a fee for transfers. Transferring a large amount of assets will cost much. Generally the larger the assets being transferred, the larger the cost. The fee is just like the toll people have to pay to go over a real bridge.
The other is the long transfer time. Users who are transferring an amount of assets across chains mostly have to wait for a long time. Thus the next action or business related to their assets has to be suspended, which may bring them much inconvenience or even cause their losses. In addition, they will take the risk of having their funds stuck across chains with high latency during transfers.
Let’s take the cross-chain transaction of NFT asset as another example. If one user wants to buy a BAYC’s NFT on Opensea and a Gamma-Tier 1NFT in the BSC NFT marketplace, he or she needs to have ETH tokens on the Ethereum network and BNB tokens on the BSC network. As more and more different NFT marketplaces such as OKX and Ploygon are gradually built, users who want to buy NFTs on them need to have more kinds of tokens on different blockchains. Then not only is the buying process (involved with different marketplaces) too complicated for users, but it would also increase their cost.
But recently, a new comprehensive marketplace which can help users get rid of these problems has come into being in PUGG Metaverse! In PUGG Metaverse, users only need to hold CALIT, the PUGG platform token, in all transactions involved with any marketplace.
PUGG, based on the BSC (Binance Smart Chain), is a metaverse ecosystem platform that integrates crypto social networking, crypto entertainment and crypto transaction together.
In PUGG game, players are allowed to display and trade the NFTs they bought from both PUGG and other marketplaces in other chains. When players want to buy the NFTs originally bought from other marketplaces, they do not need to exchange PUGG token CALIT for other tokens but can pay CALIT directly. Meanwhile, the sellers can choose to receive the payment by either CALIT or the tokens corresponded to the original marketplaces. It brings a much better transaction experience to both parties, greatly improves the efficiency and also speeds up the market liquidity. At present, very few platforms can support such cross-chain transaction except PUGG. PUGG game has both the function of a marketplace and a cross-chain bridge with all tolls free!
Moreover, players in PUGG game are also allowed to meet friends who are interested in the same kind of NFTs from different regions and countries in a virtual bar, view the NFTs held by themselves and their friends, dress their game characters with NFTs (3D) they own and directly trade with other NFT holders.
At the same time, PUGG has also started to establish its own screening mechanism while making data connection with other NFT platforms. Once any NFT from unauthorized platforms or any imitated NFT is found, PUGG will give users a warning when dealing with cross-chain work so as to protect users’ assets from loss and guarantee the security of their NFTs.
In the near future, PUGG will get more game modes and trading ways included to bring users better experience of both playing and trading in the PUGG metaverse and gradually build a metaverse pan-entertainment wonderland.