Chainge Innovation: The Universal cross-chain solution is here
As we all know, interoperability is by far one of the biggest challenges the DeFi space is facing today. Lack of an optimal user experience, flimsy security, wrapped assets and high fees are all pain-point-reasons why users still don’t benefit from the promised freedom DeFi should ensure.
Projects are currently going out of their way to build bridges upon bridges, so that people can move at least a couple of assets onto their native chain. The work that goes into this is tedious and in most cases, the end solution provided turns out to be both a security hazard and a nightmare from a UX perspective. We all know such examples and we see more popping-up every day. But none of them actually solve the interoperability issue.
The Chainge cross-chain roaming feature, powered by the Fusion DCRM tech does.
Enter, Chainge Universal assets
A Universal Asset is a regular asset with cross-chain superpowers, enabling it to hop to and from multiple chains instantly so users can focus on how to efficiently manage their wealth and not the blockchains behind it all.
The chain doesn’t matter anymore. What matters are the assets and the operational possibilities.
Universal assets also empower users to make various operations in the Chainge app that derive income (passive or otherwise) even if the asset is “split” among multiple chains. It simply does not matter anymore.
For example, $USDC is currently able to cross-chain roam in the Chainge app among a whooping 14 chains and can be sent, traded, time-framed, added to liquidity pools and more.
As a close-to-home comparison we can easily use fiat: If a person has €EUR in their pocket, they can freely spend it across European Union countries, regardless of the issuing entity. It doesn’t matter which EU country printed and issued the money, because in the end, it is the same universal currency that freely travels across borders and government economical structures.
This level of interoperability was reached only by having countries form an alliance and work together, which is exactly what we have to do for cryptocurrencies to achieve the same result of adoption and use.
Alas, unfortunately, most of the existing blockchain ecosystems are not only island ecosystems but they continue to act as isolated networks, with little to no regards for the burning need of a truly interoperable Internet of value. They continue to build slow, expensive, inefficient bridges between “islands” instead of acknowledging the fast, secure and cost-efficient “underwater highways” established by Chainge Finance powered by the Fusion DCRM tech.
Bottom line, DeFi users DESERVE better. Users deserve projects collaborating with the goal of an interoperable DeFi universe, which is why we extend a formal invitation to any project and project supporter out there to explore the capabilities of the Chainge.Finance technology and cross-chain roaming solution.
Some of the benefits of cross-chain roaming are (but not limited to):
· Seamlessly moving over 95 assets among 23+ chains without having to go through a token bridge or paying a bridge fee
· Simplicity and speed in performing any cross-chain transaction with just a couple of taps via native mobile application.
· Saving money and time (with very low fees and by skipping useless steps) to complete cross-chain transactions.
· Reduced risk of lost assets by utilising the Chainge.Finance decentralized application, protected by top grade Fusion security protocols.
· Make multiple cross-chain transactions SIMULTANEOUSLY, versus cumbersome bridges limiting one transaction at a time.
From a technical perspective this is what happens in short:
When a user wants to roam their assets from chain 1 to chain 2, his assets on chain 1 will be sent to an address which is controlled by multi nodes, and the same nodes who each has a private key sharding will sign the transaction on chain 2 to send the asset to the user. Thus, everything will happen automatically in the background without the user having to worry about a thing.
Check out the article and video walkthrough below to see the cross-chain roaming feature in action:
One might argue that Centralized Exchanges provide the same kind of service, given you are able to send your balance to any chain. However, there are a couple of major differences here:
CEXs don’t actually have real cross chain capabilities. During transactions, a “clone” of your asset is created. That “clone” only exists and is validated by the value given to it by the CEX. Since it is centralized, the assets and exchange are at risk of being hacked, therefore the need for a decentralized cross-chain solution is the best protection for the user and their assets.
Though Anyswap, Fantom, Nerve and other preojects have implemented the Fusion DCRM technology, its ideal implementation standard was finally reached with Chainge Finance, enriching the cross-chain experience with a smooth user experience, low fees, flexibility and more integrations.
Our goal is to continue adding more blockchains, striving for projects and users to become aware and take advantage of the innovative and powerful technology at hand. Our visionary partners at Elrond Network are our most recent integration into the Chainge.Finance ecosystem:
Interoperability Boost: Elrond Integrates With Chainge Finance, Enabling Assets From 13 Other…
We are excited to announce that the Elrond Network mainnet is now integrated with Chainge Finance! Change is a…
To conclude, the Cross-chain roaming feature — bringing to the table Universal assets — is amazing simply because of its uniqueness. This level of interoperability can’t be matched and won’t be matched for a very long time.
So fams, the undeniably best cross-chain interoperability solution is here.