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What is Cross-chain?
Blockchain networks are better connected thanks to cross-chain. It permits the exchange of knowledge and goods. A cross-chain functions separately from the connecting platforms. It thereby avoids inheriting the drawbacks of its interfaced networks. The goal of inter-blockchain technology is to do away with middlemen when transferring value between decentralized networks. Users can smoothly communicate with other blockchains thanks to it.
Leading cross-chain initiatives include Cosmos, Blocknet, Wanchain, and Polkadot. They all concentrate on various facets of interoperability. To improve the transfer of smart contract data between distributed platforms, for instance, Polkadot was created. In contrast, Blocknet concentrates more on a DEX that operates between blockchains.
Users can also get the best of both worlds by utilizing cross-chain technologies to get around common trade-offs between distributed platforms and capitalize on the advantages of diverse consensus processes.