This article was first published on IoTeX - Medium
ioTube v4 — Cross-Chain Bridge for IoTeX, Ethereum, and Binance Smart Chain
It’s official! Our new ioTube v4 is now LIVE at tube.iotex.io for two-way token swaps between Ethereum ↔ IoTeX ↔ Binance Smart Chain.
Introducing ioTube v4, a decentralized cross-chain bridge that enables bi-directional exchange of tokens between IoTeX, Ethereum, and Binance Smart Chain. Ethereum & BSC tokens can live on IoTeX and IoTeX tokens can live on Ethereum & BSC! We are excited to take this major leap in expanding the footprint of IoTeX to the two largest blockchains in the world and broadening the utility of IOTX and XRC20 tokens.
ioTube v4 is a sophisticated piece of technology — even better, we have fully open-sourced ioTube on GitHub and made it compatible with ioPay & Metamask for an incredible user experience. Ready to get started? Check out our step-by-step tutorials on how to convert tokens between Ethereum-and-IoTeX and BSC-and-IoTeX.
In this blog, we explain ioTube’s history, new features, and v4 architecture.
The History of ioTube
In April 2019, ioTube v1 was launched as part of Mainnet Alpha to enable conversions of IOTX-E (ERC20) on Ethereum to native IOTX on IoTeX. In August 2020, ioTube v2 introduced “witnesses” to facilitate conversion of a variety of ERC20 assets including ETH, WBTC, BUSD, PAXG, and UNI. In February 2021, ioTube v3 was launched to unify v1+v2 with significantly lower transfer/settlement costs for cross-chain token transfers. ioTube v4 builds upon this foundation and is our largest cross-chain upgrade yet!
ioTube v4 — Overview & Architecture
ioTube utilizes multiple smart contracts on both the origin/destination blockchain to enable cross-chain token transfers. It starts when a user deposits assets into a “cashier contract” on Chain A, which is an event that is observed by multiple witness nodes. These witnesses ...
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IoTeX - Medium