If you have ever tried moving your digital assets from one blockchain network to the other, then you know just how much of a cumbersome and time-consuming process it can turn out to be. Sure, various projects are working on bridging the gap with platforms that allow you to sort of jump from one blockchain to the other, yet none of them offers a completely trustless way to do so.
In my research trying to find the most risk-averse way to move value from one blockchain network to the other, all I could find were centralized cross-chain bridges that offer wrapped versions of the digital asset you are trying to transfer or bridges such as anyswap that only allow you to make one transaction at a time.
Then I came across Chainge Finance and its universal assets. Instead of building the conventional slow, expensive bridges between siloed and isolated blockchain ecosystems, Chainge Finance (powered by the FUSION DCRM tech, which is actually the first mover of interoperability that power-started Anyswap, Fantom and Nerve) enabling universal assets to be moved across multiple chains with literally a couple of taps.
A universal asset is simply put, your regular cryptocurrency with cross-chain superpowers. For instance, instead of having to convert your $USDC to a wrapped version or use a bridge, you can cross-chain roam said $USDC in the Chainge app across more than 14 chains and just operate as usual.
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28 thoughts on “How is cross-chain technology evolving in the blockchain space?”
Cosmos IBC is pretty good – their vision for the internet of blockchains is a reality now.
It may be expensive to build a robust system for true cross chain, but It beats the expensive and repeated cost for minting wrapped tokens. Since I can say goodbye to slippage, here I come!
Rubic exchange has working cross chain swaps & Bridges across 11 blockchains and supports 15,000 token pairs
The very idea of blockchain is decentralization. The fact that everyone is coming up with their own ‘version’ or ‘idea’ of that seems ironic since they are independent of each other. Given that many cross chain projects are coming up, how many years do you think it will take till there is finally a UNIFIED yet decentralized system.
Umm… I get the need for interoperability. But don’t you think that creating a point where they all meet is a form of vulnerability? What happens if this network falls? It could potentially harm those who aren’t even using it.
OMG! Super excited that this approach doesn’t involve creating wrapped versions. Transactions can take place without going through a custodian.
http://www.optical.finance is working on some cool cross chain stuff 🙂
I almost had a mental breakdown about 2 years ago thanks to this cross platform shenanigans. I had invested into numerous projects and finally wanted to take profits. I couldn’t and watched my 11x turn slowly and painfully into 6x. I wish this had arrived sooner.
I would say it’s turning out fine since interoperability is a major criterion for crypto to thrive. This is one of the reasons why I think ALBT will make it in space since they are focused on bringing Interoperability solutions to the space…
I recently found a project, DeFi Watch. It is a universal aggregator of liquidity pools and portfolio trackers for DeFi investors. I also added my wallet there, and I keep track of my investments. It has a very user-friendly interface, and I like the service in general.
I was really thinking that this interoperability feature would happen where multiple cross chain projects would simply meld into one. I think its amazing that Chainge is building an ecosystem that is inclusive right from the get go.
When you look at current cross chain projects such as dot or blocknet, they each focus on a different part of interoperability. Why do you think that is? It is extremely difficult to develop a secure, efficient and swift blockchain that caters to EVERY aspect of interoperability. Can you handle the computation?
Bogged finance is way ahead of everyone when it comes to crosschain. Limit orders, stop orders, staking, sniper on 10 chains coming very soon.
Cosmos, Polkadot, there’s some others, but those are the top 2 names you’ll see.
How about a project that has its own Crosschain and Multichain network??!!
If you have you can check this project that I’m also keeping an eye on right now. This project of **METRIA NETWORK is** an upcoming DeFi project that aims to solve this issues on transferring assets across blockchains such as the fragmentation, scalability, and high transaction fees. A project that also offer staking such as yield farming and liquidity mining,
Again, this is not a financial advice but you can check it as this is soon to launch and am excited for it.
I use [Multichain](https://app.multichain.org/#/router) – previously Anyswap – to bridge most of my assets
I like [Hypen](https://www.biconomy.io/hyphen-page) from Biconomy. Instant cross-chain transfer. It’s limited in what networks they have liquidity to do it but it’s also instant.
Speaking of cross-chain, have you heard of Metria Network? It is a cross-chain platform that ensures seamless transfer of crypto assets from one blockchain to another with low transaction fees! It will be launching soon so keep an eye out!
I came across a recently funded startup called Router Protocol. They use stablecoins as a medium of transfer contrary to RUNE token used by THORchain. From what I have read, this reduces the slippage because the transfer is not dependent on the liquidity of RUNE.
Cross-chain capabilities of crypto projects allows its users to expand and maximize their investments. It also opens a lot of income opportunities. Like Ramp Defi, you can borrow rUSD, a stablecoin, by collateralizing your asset deposits. You can use utilize rUSD liquidity directly on AMMs, such as PancakeSwap or QuickSwap, to swap for any token assets that you wish to buy.
I don’t know about you but you guys should definitely check out RAMP DeFi. It is a multi-chain DeFi lending platform that maximizes capital efficiency on your assets. RAMP also lets users:
* Borrow rUSD liquidity while you retain ownership of your favourite staking / farming assets for further growth potential;
* Generate high yields on deposited collateral with as low as 1% interest for rUSD borrowing; and
* Transfer rUSD liquidity across different blockchain networks to access tokens directly on decentralized exchanges.
More info on [Rampdefi.com](https://Rampdefi.com)
I’ve been looking into Kadena and they have an ambitious roadmap but so far they have delivered so far. They are still building the ecosystem and it’s a daunting task but the team is good. The project has lots of potential but it’s still pretty young and has a high valuation. NFA, DYOR.
Interoperability of cross-chain has been growing systematically and Pinknode plays an important role in this by giving supporting engineering to the Polkadot network Pinknode can uphold arising blockchain conventions to arrive at their maximum capacity effortlessly.
I do have to agree that projects like Chainge Finance and UnidoEP do pose a lot of value for investors like you and me. Having to change from platform to platform can be a bummer especially if you use multiple liquidity pools to stake your tokens. Cross chain interoperability is important, and providing single-point access to the DeFi industry will prove beneficial in the long run
Not to sure about this but synthetix might be working on something called synth teleporters to effectively bridge synths between chains in a safe manner
Libre Defi could be usefull in that case. Just DYOR and enjoy that
Checkout THORChain and its supported wallet, XDEFI