Cross-Chain

Cross-chain refers to a protocol that allows different blockchains to work together, integrate their features, and create interconnection among each’s values and assets.

Why Are Cross-Chain Projects Beneficial?

Cross-chain protocols allow you to combine the advantages of different blockchain networks. Those who want to be able to trade tokens with different technologies, to establish integration between DEXs, yield farms, or other DeFi tools without any third party involvement, to make swapping transactions and portfolio management easier, often benefit from these protocols.

So, which are among the most popular cross-chain projects? Actually, you know them well: Polkadot, Cosmos, Blocknet, Wanchain, Cardano, Rubric are the most popular of them.

• Customizable Web3 Services

In experts’ view, interoperable smart contracts could empower industries such as healthcare, law, and real estate by allowing the sending of important and sensitive business information between private and public networks in a customizable and controllable manner.

• Integrated Decentralized Finance Ecosystems

While a decentralized approach has already been adopted in blockchain technology, the interoperability of networks across multiple blockchains offers an even more advanced promise of blockchain technology to centralize systems and economies.

Wrapped Tokens and Cross Chain

Wrapped token refers to the generation of a new token to be pegged to the value of the cryptocurrency in question in order for any cryptocurrency asset can be traded on other blockchains besides its own chain. These wrapped tokens allow users to transact on other blockchains. These tokens are created via a cross-chain feature. This makes it possible to easily transfer different tokens between blockchains and pay lower transaction fees.

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