Polkadot

Interlay Bridge API

Leslie Blankenship's photo
Leslie Blankenship
·

5 min read

Interlay Bridge API: Seamlessly Transfer Assets Between Polkadot and Bitcoin

Interlay provides a secure, efficient, and decentralized bridge between the Polkadot network and Bitcoin. By leveraging the Interlay Bridge API, developers can easily transfer assets across blockchain ecosystems, enabling Bitcoin liquidity on Polkadot. This bridge is designed to offer low fees, high security, and rapid cross-chain transactions.

Whether you're building decentralized applications (dApps), creating decentralized finance (DeFi) solutions, or simply looking to trade assets across chains, the Interlay Bridge API gives you the tools to transfer Bitcoin seamlessly onto the Polkadot network and vice versa.

Why Use the Interlay Bridge API for Cross-Chain Transfers?

The Interlay Bridge API is ideal for developers and traders who want to access Bitcoin’s liquidity within the Polkadot ecosystem. The Interlay Bridge enables cross-chain communication and asset transfer, utilizing Bitcoin’s security while leveraging Polkadot’s high throughput and scalability.

Key Features of the Interlay Bridge API:

  • Secure Cross-Chain Transfers: Transfer assets from Bitcoin to Polkadot and vice versa with the highest levels of security.

  • Low Fees: Benefit from low transaction costs, especially when compared to traditional cross-chain bridges.

  • Fast and Scalable: The Interlay Bridge ensures fast, reliable transfers without the bottlenecks often seen in other bridges.

  • Decentralized Control: Interlay uses a decentralized oracle and validator set, ensuring that all transactions are verified without relying on a single entity.

  • No Rate Limits: The API allows unlimited usage, making it perfect for both high-frequency traders and large-scale dApp developers.

How the Interlay Bridge API Works

The Interlay Bridge works by wrapping Bitcoin (BTC) on the Polkadot network as interBTC, a trustless, 1:1 pegged asset. Developers can interact with this bridge through a series of API endpoints that manage token transfers, balance checks, and transaction status.

API Endpoints:

  • Transfer Bitcoin to Polkadot (BTC to interBTC):
  •   https://dot-api.pro/api/interlay/transfer_to_polkadot
  • Transfer Polkadot to Bitcoin (interBTC to BTC):
  •   https://dot-api.pro/api/interlay/transfer_to_bitcoin

How to Transfer Bitcoin to Polkadot Using the Interlay Bridge API

To transfer Bitcoin to Polkadot, you can use the Interlay Transfer API. This API allows you to lock Bitcoin on the Bitcoin blockchain and mint interBTC on the Polkadot network.

Example API Request for Bitcoin to Polkadot Transfer:

To initiate the transfer, send a POST request with the following parameters:

  • private_key: Your private key associated with the Bitcoin wallet to authorize the transaction.

  • amount: The amount of BTC you wish to transfer.

  • to_address: The Polkadot address where the interBTC tokens will be minted.

  • slippage: Set your desired slippage tolerance to avoid large price fluctuations during transfer.

  • units: Default is set to 1,000,000 for transaction precision.

Transfer Bitcoin to Polkadot API Endpoint:

https://dot-api.pro/api/interlay/transfer_to_polkadot

Example Python Code for Bitcoin to Polkadot Transfer

import requests

# Replace with your test values
private_key = 'your_private_key'  # Your private Bitcoin wallet key
amount = 0.05  # Amount in BTC to transfer
to_address = 'Polkadot_wallet_address'  # Your Polkadot wallet address
slippage = 1  # 1% slippage tolerance
units = 1000000  # Precision units

def transfer_btc_to_polkadot():
    url = 'https://dot-api.pro/api/interlay/transfer_to_polkadot'  # Interlay Bridge endpoint
    payload = {
        "private_key": private_key,
        "amount": amount,
        "to_address": to_address,
        "slippage": slippage,
        "units": units
    }

    try:
        response = requests.post(url, json=payload)
        response.raise_for_status()
        print('Response:', response.json())
    except requests.exceptions.RequestException as e:
        if e.response:
            print('Error:', e.response.json())
        else:
            print('Error:', e)

# Run the function
transfer_btc_to_polkadot()

Example Successful Response:

{
  "status": "success",
  "txid": "abc12345xyz67890"
}

Example Error Response:

{
  "status": "failed",
  "message": "Insufficient BTC balance",
  "error": "Not enough BTC in wallet for the transfer"
}

How to Transfer Polkadot to Bitcoin Using the Interlay Bridge API

If you want to redeem interBTC for actual BTC on the Bitcoin network, you can use the Polkadot to Bitcoin Transfer API. This allows users to burn interBTC on the Polkadot network and unlock BTC on the Bitcoin blockchain.

Example API Request for Polkadot to Bitcoin Transfer:

To redeem interBTC for BTC, send a POST request with the following parameters:

  • private_key: Your private key associated with your Polkadot wallet for authorization.

  • amount: The amount of interBTC you wish to transfer back to Bitcoin.

  • to_address: The Bitcoin address where you want to receive the BTC.

  • slippage: Desired slippage tolerance.

Transfer Polkadot to Bitcoin API Endpoint:

https://dot-api.pro/api/interlay/transfer_to_bitcoin

Example Python Code for Polkadot to Bitcoin Transfer

import requests

# Replace with your test values
private_key = 'your_private_key'  # Your private Polkadot wallet key
amount = 0.05  # Amount in interBTC to transfer
to_address = 'Bitcoin_wallet_address'  # Your Bitcoin wallet address
slippage = 1  # 1% slippage tolerance

def transfer_polkadot_to_btc():
    url = 'https://dot-api.pro/api/interlay/transfer_to_bitcoin'  # Interlay Bridge endpoint
    payload = {
        "private_key": private_key,
        "amount": amount,
        "to_address": to_address,
        "slippage": slippage
    }

    try:
        response = requests.post(url, json=payload)
        response.raise_for_status()
        print('Response:', response.json())
    except requests.exceptions.RequestException as e:
        if e.response:
            print('Error:', e.response.json())
        else:
            print('Error:', e)

# Run the function
transfer_polkadot_to_btc()

Example Successful Response:

{
  "status": "success",
  "txid": "def67890xyz12345"
}

Example Error Response:

{
  "status": "failed",
  "message": "Invalid amount or address",
  "error": "Check the transfer amount or recipient address"
}

Real-Time Cross-Chain Transfer Status

To track the status of your cross-chain transfer, you can use the Transfer Status API. This allows you to monitor the progress of your transaction and receive updates on completion.

Transfer Status API Endpoint:

https://dot-api.pro/api/interlay/status/<TXID>

Example Python Code for Checking Transfer Status:

import requests

def get_transfer_status(txid):
    url = f'https://dot-api.pro/api/interlay/status/{txid}'

    try:
        response = requests.get(url)
        response.raise_for_status()
        print('Transfer Status:', response.json())
    except requests.exceptions.RequestException as e:
        print('Error fetching status:', e)

# Replace with the transaction ID you want to check
get_transfer_status('abc12345xyz67890')

Example Response:

{
  "status": "pending",
  "message": "Transaction is being processed"
}

Why Choose Interlay for Cross-Chain Asset Transfers?

  • Security: Interlay leverages a decentralized validator network to ensure that all transfers are validated and secure.

  • Scalability: The platform takes advantage of Polkadot's scalability, ensuring that cross-chain transfers are processed quickly and efficiently.

  • Low Fees: Interlay’s fees are much lower than traditional cross-chain solutions, making it an affordable option for transferring assets.

  • No Rate Limits: The API allows you to perform unlimited transactions, making it suitable for both high-frequency users and developers.

  • Decentralized Control: No single entity controls the transfer process, ensuring a more secure and trustless system.

Conclusion

The Interlay Bridge API is an essential tool for developers, traders, and liquidity providers looking to transfer Bitcoin (BTC) to the Polkadot ecosystem and vice versa. With its low fees, fast transactions, and robust security features, the Interlay Bridge provides seamless cross-chain communication between Bitcoin and Polkadot. Start using the Interlay Bridge API today to leverage Bitcoin liquidity within the Polkadot ecosystem and expand your blockchain capabilities.

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