Rune Bridge

The Rune bridge serves as a core component in the Runes ecosystem for the conversion of Ethereum to tokens on the Bitcoin blockchain. The bridge implements a lock (on ethereum) and validate (on Bitcoin) synergy to allocate the specified Rune requested by end users. When a user makes a call to the bridge, our smart contract on the Ethereum chain performs a safe transfer from the recipient’s ethereum address. The function called by the end user has the following:

1. Ether value (type uint)
2. Minimum mint amount (type uint)
3. Rune Token (type string)
4. Bitcoin address: (type string [The validity of this address is verified via our intuitive user interface to save gas fees on the smart contract]).

Once the transaction is added to Ethereum’s mempool and validated by the network. The Bitcoin script containing the etching (minting) issuance of the Rune token is published and sent to the user’s bitcoin address. The same applies when Runes with value are to be bridged to Ethereum this time using script lock and unlock construction on Bitcoin and proof sent to the smart contract on Ethereum. The beauty of Bitcoin scripts lies in their stateless nature. All the information required for execution is embedded within the script itself. This guarantees consistent execution across the entire Bitcoin network. If a script is deemed valid on one node, it will be validated on every other node, fostering a predictable and secure transaction environment.

Benefits of the Rune Bridge

1. Increased Rune Token Utility: The bridge allows users to leverage their ETH holdings to acquire Rune tokens, expanding the use cases for Runes and fostering ecosystem growth.

2. Enhanced Liquidity: By enabling conversion between ETH and Runes, the bridge increases the overall liquidity of Rune tokens, benefiting holders and traders.

3. Interoperability: The bridge contributes to a more interconnected blockchain ecosystem where assets can flow freely between Ethereum and the Bitcoin-based Rune ecosystem.