🟢Hello, Orbit Chain Community!🟢 We share the current state of the Layer 2 Bridges report by Dr. Andreas Freund (Co-Chair) from EEA (Enterprise Ethereum Alliance) Community Projects L2 Standards Working Group. This post covers a total of 23 bridges, including the Orbit Bridge. [Background] We live in a multi-chain world, with billions of USD in asset value locked in 100+ chains. And the owners of those blockchain assets behave just like they would with assets in traditional finance: they are looking for arbitrage opportunities to make money. However, in contrast to the world of traditional finance where assets in one country can be utilized in arbitrage plays in another country without moving assets by using trusted intermediaries, the same approach did not work for blockchains for a long time for three reasons: Blockchains cannot talk to one another, Arbitrage plays on a particular blockchain require that all involved assets are present on that blockchain because of the trustless nature of public blockchains, And there was no equivalent to the trusted intermediary as in traditional finance between trustless blockchains. [Solution] To solve the problem of capital inefficiency on blockchains, and make money in the process, enterprising individuals created blockchain bridges that addressed those three challenges and started to link the blockchain ecosystem together – yes, you can now trade bitcoin on Ethereum. Of course, bridges can be used for other types of functionality too; however, the primary function is to improve capital efficiency. [What is a Blockchain Bridge?] At a high level, a blockchain bridge connects two blockchains facilitating secure and verifiable communication between those blockchains through the transfer of information and/or assets. - Orbit Bridge Orbit Bridge is part of the Orbit Chain project. It is a cross-chain bridge that allows users to transfer tokens between supported blockchains. Tokens are deposited on the source chain and “representation tokens” are minted on the destination chain. Deposited tokens are not precisely locked and can be used in DeFi protocols by Orbit Farm. You can read all contents by clicking the link, including types, importance, landscape/risks of L2 bridges, etc. We will continue to do our best so that Orbit Chain can grow into a project representative of the web3 ecosystem. Thank you. https://twitter.com/Orbit_Chain/status/1668134052162048000