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+## Bridges
+
+<br>
+
+
+### Centralized Bridge
+
+* Centralized bridges are essentially hot wallets straddling the fence between multiple chains. 
+* They hold a user’s assets on one chain and issue them a corresponding amount of tokens on another chain. 
+* Liquidity on both sides is managed by the centralized entity. 
+* Binance is probably the best example of a centralized bridge operator, straddling the fence between Ethereum and Binance Smart Chain.
+* The security risks of a centralized bridge are the same security risks that exist for exchanges and custodians. 
+* Their primary responsibility is securing private keys (key management), and as a result centralized bridges have proven to be pretty secure.
+
+
+### Proof of Stake Bridge
+
+* Proof of Stake bridges are like little blockchain networks narrowly focused on facilitating cross-chain activity. 
+* Whereas centralized bridges are managed by a single entity, proof of stake bridges are managed by a group. 
+* They often involve multisigs or some form of escrow mechanism controlled by a group of signers/validators that watch and vote on the ability to unlock corresponding assets on another chain.
+* Because POS bridges involve both smart contracts and a group of centralized gatekeepers, they inherit all the code risk of Web 3 and the traditional security risks of Web 2 (key management, access controls). 
+* POS bridges have the most attack vectors, and have unfortunately been the victims of most of the major exploits.
+
+
+### Decentralized Bridge
+
+* Decentralized bridges take a proof of deposit from one chain and validate it on the other chain (ex: Polygon Plasma Bridge). 
+* Decentralized bridges are all code. They don’t rely on centralized signers/validators, so while there’s more code risk, they don’t have to worry about the traditional security risks that POS bridges deal with.
+* Decentralized bridges are newer and facilitating less activity than the other bridge types, but there are no known exploits.