Cross-chain is the technology for which 2 different blockchains can be put into communication.
Being the number of startups using the blockchain, communicability between blockchains is becoming necessary.
Blockchain technology came to life from Bitcoin, and gradually each company has molded it onto itself; many of these projects solve real problems and have acquired a certain market value, through the capitalization of tokens.
Despite this, since the protocols are dedicated, direct interaction between the blockchains is not possible.
To all this, we must add that each blockchain solves one or more problems, but not all, so it appears that some problems are solved by one blockchain, while others by another.
For this reason, decentralized projects should create systems that can interact with each other.
Here, in fact, the Cross-Chain would be the most plausible technological solution to be able to solve the impossibility of interacting between blockchains with different protocols. If this process could be implemented, information, transactions and data could be shared, exponentially increasing the productivity of companies.
This is currently impossible as the models are centralized.
Studies on this topic continue and in some cases even get respectable results, see for example Polkadot, LightningLabs, Wanchain and Fusion, just to list a few.
The DeFi
With the advent of DeFi, this limitation of blockchains has become more evident, as new projects have emerged and in the last 12 months there has been an exponential expansion of the capitalization of DeFi.
There is talk of about 25 billion dollars: a growth of 3000% (30 times if you are clearer)!
Most of these movements we owe to decentralized exchanges like Uniswap and those of lending like Maker.
No less are the Dex, which using extremely advanced technologies, are already developing ecosystems capable of unifying blockchains.
In this regard, Compound Chain is a new protocol for the interaction of assets from various blockchains.
Within the platform, users have the ability to borrow or deposit resources from various systems, such as Polkadot or Tezos. Commissions will be paid with a native COMP token.
As it is obvious to think, the blockchain on which the whole structure is based is that of Ethereum.
The projects
In October 2020, where Solana has prepared applications and smart-contracts to be able to execute the Cross-Chain by connecting Ethereum tokens with Solana.
This solution is called Wormhole and will make it possible to move tokenized resources through the blockchain.
A really important step!
On January 3 of this year, Binance Smart Chain (BSC) successfully integrated PARISQ, a cross-chain event monitoring solution on the blockchain for use in any BSC smart contract.
PARISQ's toolkit allows users to create complex activities triggered in real time by smart contract data or events on the blockchain.
The most important project is up to NewsCrypto: it has created an exchange of its native tokens on the Stellar blockchain on the Ethereum and Binance Smart Chain blockchains, with a ratio of 1: 1: 1.
All at the push of a button.
Being, among other things, implemented through a smart contract, the Cross-Chain is totally automatic!
I don't know if I was able to make you understand the importance of this new possibility that is emerging for a conscious and profitable exploitation of the blockchain.
Try to think for a moment: a public blockchain, therefore absolutely transparent that can, through the Oracles, get in touch with the real world, and, through a Cross-Chain, transfer the data to another blockchain ...
Don't you find it exciting?
