Hey there, along with the Artificial Intelligence technology, the blockchain technology is also evolving and growing faster, and blockchain technology is most important here because multiple technologies are connected, such as decentralized apps (often called dapps), decentralized finance (Defi), NFTs that full form is non-fungible token, and more. In this blockchain ecosystem, there is another great technology that solves a big problem, and that is cross-chain technology. There are many blockchains here in the crypto world, and cross-chain technology connects them to exchange value and share data. Basically, crosschain technology is all about talking with each other og blockchains.
In this cryptocurrency world, there are many blockchains, and we know that, and blockchains like Ethereum (Ether chain), Polkadot (Dot coin), Solana (sol coin), our Hive blockchain, Avalanche blockchain, and more. Every blockchain is like a district, and this district can be small or big in this blockchain & crypto world, and every blockchain has its own economy, language, working area, and rules. Naturally, it is not possible to move tokens and use crypto in Defi apps, and most of us know that. You have to bridge the tokens to transfer them from different blockchains, so bridging is a solution. And this problem is solved by a technology named cross-chain.
Between the blockchains, the cross-chain technology creates secure and safe communication protocols. So by using cross-chain, being in decentralization, you can transfer your crypto and also data. So all you can do this by just use cross-chain technology, and trust me, you do not need the help from centralized exchanges.
Why is cross-chain technology so important?
For the blockchain mass adoption, interoperability is needed. Let's say you are typing url on your browser and you visit any website. Now, here you don't care where this website is hosted, but you just need information there; similarly, users just avoid such things, they just transfer their token and use dapps. In this decentralized world, cross-chain plays a vital role in connecting these blockchains.
There are new possibilities with this technology, and here the developer can build a dapp easily that is based on cross-chain. You can do multiple blockchain tasks on one platform by using this technology. A developer can do that and create dapps where multiple chains are needed.
Do not depend on centralized networks.
Crypto and blockchain technology's main motive is to take people out of the centralized world and give them decentralization. Also, we do not need a third party here, and it is important to reduce dependency on centralized things. Cross-chain technology enables peer-to-peer, trusted swaps between the chains. This is better for safety and security instead of using centralized exchanges.
We have seen the benefit of cross-chain, but here you can see the challenges, and these challenges are complex implementations, scalability, and there are some security risks involved, too. But here I want to show you new projects such as chainlink, cosmos, polkadot, and more, and these projects are really improved things. So the industry is solving the issues.
At the beginning of this article, we talked about blockchain cities, and now you have to keep that in your mind in these cities, cross-chains are the roads, and without roads economy cannot survive. For the blockchain infrastructure, this solution is necessary.
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