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What Are Cross Chain Bridges?

What exactly are cross-chain bridges, how do they work and why are blockchain bridges needed in the crypto industry? Another week, another cross-chain bridge hack. Cross-chain bridges seemingly appear to be constant targets of hackers, and with millions of dollars lost in these hacks, one might wonder — why the need for blockchain bridges? There are over hundreds of blockchains with different features and use cases. While blockchain technology has continued to gain traction and attract more users, the issue of interoperability between different siloed blockchains has remained a major challenge. 1:04 - What Are Cross-chain Bridges? 2:02 - How Does a Cross-Chain Bridge Work? 3:08 - Why Are Cross-Chain Bridges Important in the Crypto Ecosystem? 4:12 - Notable Cross-Chain Bridge Hacks in 2022 5:00 - Ronin Bridge Hack 5:37 - Wormhole Hack 6:32 - Harmony Bridge Hack 7:28 - Nomad Bridge Hack 8:06 - Top Cross-Chain Bridges 🔔 From crypto news, to market moves, and to educational how to videos. If you want something more than just hype and to actually learn about crypto, make sure to hit the subscribe button right now and turn on notifications to not miss out on new videos! 🔵 Coin Market Cap is the world's most-referenced price-tracking website for cryptoassets in the rapidly growing cryptocurrency space. Its mission is to make crypto accessible all around the world through data and content. 📲 Download our app! IOS : https://apple.co/3dOkokH Android : https://bit.ly/3gHyJkS 🤝 Join CoinMarketCap! https://bit.ly/3dVaEoS Follow CoinMarketCap on social!   / coinmarketcap     / coinmarketcap     / coinmarketcap     / coinmarketcap   https://t.me/CoinMarketCap 📩 Subscribe to our Newsletter! https://coinmarketcap.com/newsletter/