Cross-Chain

Cross-chain is a technology that enhances the interconnection between blockchain networks by allowing the exchange of information and value.

Cross-chain is a technology that enhances the interconnection between blockchain networks by allowing the exchange of information and value. In doing so, it breaks the siloed nature of blockchains to create an intertwined distributed ecosystem.

Notably, a cross-chain operates independently from the connected platforms, hence, it doesn’t inherit the shortcomings of its interfaced networks. Inter-blockchain technology aims at eradicating intermediaries when moving value between decentralized networks, enabling users to interact with other blockchains seamlessly.

Furthermore, Wanchain sees a future where all digital assets live on a single network while Cosmos provides a base that supports other blockchains using zones connecting to a central protocol called the Hub.

Some industries that require cross-chain technology include decentralized finance (DeFi) and healthcare. In the DeFi scene, inter-blockchain connectivity enables token swaps between different networks, fostering interoperability, which is crucial for financial ecosystems to thrive.

Cross-chain technology also allows users to overcome common trade-offs among distributed platforms and tap into the benefits of various consensus mechanisms so they could get the best of all worlds.

Furthermore, in the healthcare sector, cross-chain systems promote data ownership, security through encryption, efficiency, and transparency.