The importance of interoperability & Universal Assets for Web 3.0

A free, inclusive, secure financial ecosystem.

What was once just a dream for early crypto adopters, is now quickly becoming a reality through various DeFi protocols. Mass adoption is bound to happen right before our eyes as decentralised financial tools from trading to farming, lending and storing are becoming more and more accesible.

However, there are a couple major bottlenecks that currently slow down the process and hold back day-to-day users from taking full advantage of decentralisation. And this comes at a great cost not only to users but to the DeFi ecosystem as a whole.

So, let’s take a step back and look at the context:

A rapidly increasing number of assets are being deployed on multiple chains in order to accommodate different project communities and respond to current market needs

While multi-chain is clearly the trend, it is not met by a viable cross-chain “infrastructure”

A flexible, fast, secure, all-encompassing solution is needed to speed up the adoption pace for mainstream users and streamline network traffic

Just as most blockchains exist as silos with closed ecosystems, so do the projects that have emerged to tackle interoperability. Instead of projects working together to achieve and adopt the most reliant interoperability solution, they all take their swing at it and come up with more bridges that don’t really solve much and furthermore, create additional security liabilities.

In terms of UX, cross-chain bridges require users to configurate networks for different chains and manage several wallets

In terms of capabilities, cross-chain bridges only allow users to move assets from one single chain to another chain

If a user has the same currency spread among multiple chains, they have to bridge it in batches, one chain at a time — which is complicated, expensive and time-consuming. And this is the equivalent of hitting a brick wall.

Enter, Chainge Universal Assets — the ultimate interoperability solution for web 3.0

First thing’s first: What are the indisputable benefits of the Chainge interoperability solution aka cross-chain roaming?

Scalability

  • Multiple cross-chain transactions performed simultaneously — any currency “living” on multiple chains can be instantly sent to another chain within one operation.
  • Users can buy any asset on any chain in a 100% decentralized way. Chains don’t matter anymore. Assets become Universal.

Speed

  • The fastest multi cross-chain experience on the market, only limited by the speed of the public blockchain’s confirmation speed.

Use case: 1000 $USDC spread amongst Ethereum, Tron, BSC, HECO, Polygon, OEC, Fantom, Avalanche, Arbitrum, Cronos, Aurora and Elrond. All having to be moved to the Solana chain.

How long does it take?

  • Using centralized exchanges: 5+ hours
  • Using cross-chain bridges: 1+ hours
  • Using Chainge: 2–3 minutes

Compatibility

  • Chainge supports both EVM and non-EVM compatible chains
  • Among the 22 integrated chains, Solana, Elrond, Cosmos, Polkadot, Kusama or Terra are non-EVM chains. No other cross-chain bridge currently supports any of them.
  • In the Chainge app, $USDC can freely cross-chain roam between a record number of 14 chains

Security

  • Our patented DCRM technology was developed by the Fusion Foundation in association with top 4 world-class cryptographers & security experts

Rosario Gennaro, Professor of Computer Science at CUNY,
Steven Goldfeder, Ph.D., Postdoctoral Researcher in the Department of Computer Science at Cornell University,
Louis Goubin, Professor of Computer Science at University of Versailles
Pascal Paillier, Ph.D., CEO and Senior Security Expert at CryptoExperts

  • Our protocols have never been hacked and was cited by the European Central Bank digital assets report.

From scalability and speed, to compatibility and security, the Chainge cross-chain roaming solution simply blows the competition out of the water when it comes to an optimal interoperability solution.

Keeping all of the above in mind, our product can very well serve all crypto users and blockchains on the market today.

With Chainge’s cross-chain solution, an interoperable web 3.0 is finally within sight. And Universal Assets are the front-runners of this new emerging internet of value. Because a Universal asset, is simply put, a regular asset, with cross-chain superpowers.

The chain doesn’t matter anymore. The only thing that matters is what you do with those assets to maximise your wealth’s potential and financially interact with others. Whatever opportunity you find, from no matter what protocol you can simply jump on it, without having to worry about bridges and old school centralised cross-chain “band-aids”.

And while we know mass adoption and peer-recognition cannot happen overnight, (because seeing the diamonds among the pile of coal is not an easy task on an already oversaturated market), slowly but surely we are paving the way towards that interoperable web 3.0 and getting stronger by the day.

Thank you for being by our side on this amazing journey!

Discover more about Chainge on our Website & Linktree

& don’t forget to Follow Us on Social Media:

💬 Or maybe chat with us on Telegram

--

--

--

Your own DeFi universe in one app. Powered by cross-chain magic. www.chainge.finance

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

What Really Is Socialism

The Sandbox LAND Presale 4 (Round 2) is Sold Out!

🏆🏆MYL Pre-Sale on PinkSale Celebration Competition 🎉🎉

Hubble Protocol (1) - A brief overview

Crypto Mayhem — where gaming meets with cryptocurrency

Top 5 Most Anticipated Crypto Events of 2020

Is it Possible to Create an Un-hackable Crypto Website/Bank for your bitcoin (or other cryptos)?

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Chainge Finance

Chainge Finance

Your own DeFi universe in one app. Powered by cross-chain magic. www.chainge.finance

More from Medium

BLOCKCHAIN GOVERNANCE & THE QUICKSWAP GOVERNANCE VOTE TIMELINE.

Sagas of Oasis pt. 0: Emergence

Legions of Oasis

How to Add Polygon (MATIC) Network to MetaMask

SuperBonds Finance: MetaYield Features