BEFY
1. Summary
- Description
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BEFY: Decentralized Cross-Chain Bridge for Bitcoin and EVM
BEFY: Decentralized Cross-Chain Bridge for Bitcoin and EVM
The BEFY project is the world's first decentralized cross-chain bridge that enables the seamless transfer of assets between Bitcoin and Ethereum Virtual Machine (EVM) compatible blockchains. This bridge facilitates interoperability between the two dominant ecosystems, allowing users to leverage the unique features and strengths of each network.
The BEFY bridge is designed to operate in a decentralized manner, ensuring the security and trustworthiness of cross-chain transactions. By bridging the gap between Bitcoin and EVM-based networks, BEFY aims to provide users with a broader range of decentralized applications and services.
Bridge Functionality
The BEFY bridge essentially involves the following steps:
- Users initiate a transfer by calling a function on the originating chain, which burns the tokens and emits an event.
- The bridge's relayer detects the event and executes the counterpart function on the receiving chain, minting the tokens and emitting another event.
- This sophisticated process ensures the secure and efficient transfer of assets across the two networks.
Security and Features
Bridging between different blockchains inherently comes with security risks, making it essential for robust security measures to protect users' assets. The BEFY bridge is designed with a focus on security and usability, offering features that cater to the needs of users transferring assets between Bitcoin and EVM-based chains.
Current State
As a pioneer in decentralized cross-chain bridges, BEFY is poised to revolutionize the blockchain ecosystem by fostering seamless interactions between Bitcoin and EVM-based networks.
| Price | |
| 52W High price | $0.16 |
| 52W High date | 2nd Feb 2024 (1 year ago) |
| All Time High (ATH) Date | 29th Apr 2025 (2 months ago) |
| All Time Low (ATL) Date | 29th Apr 2025 (2 months ago) |
| Supply & Trading Volume |
How does BEFY's () performance compare to the median performance for assets of a similar market capitalization?
30 Day Return
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Similar Market Cap
No GitHub repos found. Either the project is not open source or we don't have data yet.
Tip: Toggle each network by clicking the name above
Historic data is only available from 22nd April 2022
Total Followers
| Reddit Subscribers | |
|---|---|
| Active Reddit Users (past 24h) | |
| Discord users | 1,765 |
| Active Discord Users | 133 |
| Telegram Users | 254 |
| Twitter followers | 4,185 |
No recent news found.
Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:
| Website | https://www.befyfi.xyz/ |
|---|---|
| Explorer | https://etherscan.io/token/0x39a9728fb398583154E6c... |
| @Befy_Protocol |
What is the correct contract address for BEFY?
| Ethereum | 0x39a9728fb398583154e6cc5e3defa60908f58e2f |
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Has BEFY been audited for security?
No security audits found for this project.
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