Cross-chain

Cross-chain in cryptocurrency is referred to the interoperability between independent blockchain networks. In layman’s terms, with the help of cross-chain technology, one blockchain can communicate with another blockchain despite both of them being on different networks. Cross-chain helps in transferring or swapping assets between two different networks.

Cross-chain technology plays an important role in making crypto mainstream. In the early stage of blockchain technology, transactions or exchange of data were envisioned to carry out within a single network. However, the times have changed with multiple blockchain networks functioning independently. However, the drawback is these independent blockchain networks like Bitcoin, Ethereum and Litecoin cannot communicate with each other. With the help of cross-chain, this is now possible without hampering the user experience.

There are several blockchain projects that utilize cross-chain communication and are solving real-life issues. Polkadot, Cosmos, and Harmony are projects that offer interoperability solutions with the use of this cross-chain technology.