The popularity of cryptocurrencies is rising faster than the expectations of many people. The prices of all the cryptocurrencies are surging and are touching new heights. And, with that, we can expect a huge surge of new investors on their way. But to attract these new investors, the crypto market needs to solve a very crucial problem, namely, the Cross-chain problem.
What is the Cross-chain problem?
One of the major selling points of cryptocurrency and Blockchain was its decentralised nature. But this decentralisation is proving to be a double-edged sword. With the availability of multiple decentralised networks like Ethereum, Binance Smart Chain, Avalanche and Solana, the interconnection between them is proving to be a challenge. The cross-chain activity is a cumbersome technological challenge. Cross-chain trading is quite expensive also which can be discouraging for new users in the crypto space. Fortunately, new cross-chain technologies are coming in that are aiming to tackle this very problem.
What are cross-chain technologies?
Cross-chain is a technology that improves the connectivity of Blockchain networks by facilitating the interchange of data and value. In doing so, it disrupts the walled character of Blockchain, resulting in the linking of a dispersed environment. Notably, a cross-chain runs independently of the platforms to which it links.
Therefore, it does not inherit the inadequacies of its interfaced networks. Inter-Blockchain technology intends to eliminate the need for middlemen when transferring value across decentralised networks. Hence, allowing the users to connect with other Blockchain in real-time.
Multichain solution by FibSwap-
FibSwap is a multi-chain decentralised exchange (DEX). It offers the users shifting across networks a reduction in fees and better transaction speeds.
FibSwap creates bridges across Blockchain networks for near-instant switching by leveraging a proprietary technology known as the Interoperable Multichain Bridge System (IMBS). Because FibSwap technology is designed keeping in mind the cross-chain interactions, switching can be as simple as flipping a switch.
There are now existing Blockchain bridges, however, their design does not provide an optimal user experience. Existing network exchanges may take anywhere from 20 to 30 minutes. Users who trade frequently can easily spend hundreds of dollars on trading costs.
FibSwap builds the platform on a multi-chain basis from the start. Making it more capable than other similar projects that support such exchanges.
Market ledger by MoonX
MoonX reports that their team is now working on a new ecosystem. This new ecosystem will interact with its deflationary coin and will provide a safe refuge for investors. MoonX is more than simply a tradable token on the Binance Smart Chain; it is also creating solutions to assist investors, developers, and newbies in the crypto field.
Market Ledger, their future solution, intends to provide an all-in-one platform for cryptocurrency investing. MoonX will provide a complete cross-chain monitoring dashboard within Market Ledger. You’ll be able to link your wallet and see all of your assets in one spot whether you’re on the AVAX, MATIC, ONE, ETH, or BSC networks. Previously, consumers had to monitor charts across many websites.
MoonX is taking its platform a step further by including news updates and other pertinent information about investors’ assets. It provides investors with all the knowledge they will need to properly manage their portfolios.
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