BHO MAINNET FUNCTION SERIES: WHAT IS "CROSS-CHAIN"?

When Blockchain first came out, it was considered the most efficient improvement to assist transactions, smart contracts etc that could be done on a single chain. However, as technology advances, the preceding statement is becoming relatively outdated. As a result, Cross-Chain was invented as a possible solution to this issue.

WHY IS CROSS-CHAIN TRENDING?

⚜️Created to maximize the ability to aggregate between chains by moving assets from one chain to another, cross-chain projects allow users to not only connect better, but also transfer value information easier between Blockchains.

⚜️ Cross-Chain enables the deployment of digital assets swiftly and easily. On non-scalable Blockchains, the transaction price is cheaper, and dApps can be developed on a variety of platforms.

⚜️ When Blockchains are readily communicate with one another, Token exchange will become faster and easier than ever. BHO Network has also therefore added this Cross-Chain function, which allows users to connect with Binance Smart Chain (BSC) for asset exchange via GameFi & DeFi application connections.

For detailed information, visit:
https://bholdus.com/en/blog/article/official-release-of-bholdus-cross-chain-function-linked-to-binance-smart-chain/

⚜️ Total Value Locked (TVL) in DeFi smart contracts on Cross-chain bridges was recorded to reach 16.2 billion USD on 26/1/2021, up 72.25% in almost 30 days, according to data from Footprint.

⚜️ Avalanche, Polygon, Arbitum, and Fantom Anyswap are the 4 largest cross-chain bridges to exist at the moment. They account for 95.61% of the overall cross-chain demand, with 401.23% as the biggest monthly rise.

⚜️ According to data from CoinTofu, these cross-chain bridges have great user experience ratings, because they:

• Increase transaction speed
• Maximize users’ experience, as contents can be interacted with openly.
• Improved productivity & utility of existing crypto assets, as well as increased security & privacy.

What are your thoughts on this Cross-Chain trend?