Runes to Ethereum

This process involves converting Runes tokens from the Bitcoin blockchain into a compatible ERC-20 token format on the Ethereum blockchain. The main steps include:

Token Wrapping:

  • Creation of Wrapped Tokens: On the Ethereum side, a specific ERC-20 token is created to represent the Runes tokens. This ERC-20 token acts as a 'wrapped' version of the original asset.

  • Locking Original Tokens: Runes tokens that are to be bridged are locked in a smart contract or a multi-signature wallet on the Bitcoin blockchain. This ensures that the tokens are taken out of circulation on the Bitcoin side during the time they are represented on Ethereum.

Verification and Minting:

  • Cross-Chain Verification: A verification process is implemented, often involving oracles or blockchain relays, to ensure that the Runes tokens are locked on the Bitcoin blockchain before any wrapped tokens are minted on Ethereum.

  • Minting of Wrapped Tokens: Once verification is complete, an equivalent amount of ERC-20 wrapped tokens are minted on Ethereum, ready for use within the Ethereum ecosystem.

User Interaction:

  • Interface for Transactions: Users interact with a user-friendly interface that guides them through the process of transferring their tokens from Bitcoin to Ethereum, providing necessary information and initiating the transaction.

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