Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: Eighteen69 on October 12, 2024, 07:34:25 PM
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Emerging crypto projects should be geared towards solving existing problems within the reach of blockchain technology and not clowning existing ones or else why do we need a new crypto project?
There's been a huge interest in DeFI where many crypto projects I've come across are focused on creating bridge platforms and liquidity pools, but I've been thinking why developers are yet to create projects that leverage the faster cross-chain experience needed right now in the market instead of the time consuming and cost implications in bridging from one chain to another. Would this idea if implemented not solve a bigger problem within the cryptospace?
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Your idea highlights a critical area where innovation could significantly advance blockchain's utility and adoption. While there are projects moving in this direction, the market indeed needs more focus on making cross-chain transactions as seamless as transactions within a single blockchain network. This could be the next big wave in blockchain technology, following DeFi, by solving the puzzle of blockchain isolation.
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Unfortunately, cross-chain is a centralized service where a central server with a single point of failure handles all transactions, so there is no such thing as a decentralized bridge and these services are still unable to exchange currencies between more than one blockchain. If things develop in the future, you may be able to exchange Bitcoin for any cryptocurrency without the need for this central bridge, but for now, using CEX is much better.
so Liquidity Pools will have more interest than Cross-Chain Infrastructure
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One of the project's focuses is seamless cross chain transactions, allowing users to swap from any asset on one blockchain to any other asset on another chain within the wallet itself without the need to switch between different apps and networks.
Inside a crypto exchange? If that's what you mean then this is how a CEX works, they take your crypto, add funds to the database, manage and update the database, and when you withdraw, it is withdrawn from the hot/cold wallet.