Today, there are quite a lot of projects claiming they are developing cross-chain tech or even cross-chain decentralized exchanges (DEX). But the fact is that the Fusion DCRM is the only cross-chain technology in commercial use at the moment.
Projects such as Nerve or Fantom are currently using the Fusion DCRM technology.
However, anyone who has used bridges will sense that the user experience lacks in some areas and is definitely not ideal: Users have to constantly configure networks and can only do one cross-chain transaction at a time. What Chainge has done is take the cross-chain experience to the next level: cross-chain roaming.
With Chainge, users don’t even have to care which chain their assets are on when trying to make transactions, swaps on the Chainge DEX, add liquidity or write options.
Even if users’ assets are split among five or six different chains, they can go ahead and proceed with their operations as usual without worrying about the cross-chain issue. Everything runs in the background (in a 100% decentralized way).
Currently, the Chainge app sports over 16 chains and 85 assets that can hop from one chain to another with just a couple of taps.
Chainge’s main goal is and will always remain to develop a fair decentralized finance (DeFi) space for the benefit of users and projects alike, with equal opportunities for all.
Some of the benefits of cross-chain roaming are:
Seamlessly moving assets from one chain to another without having to go through a token bridge.
Simplicity and speed, performing any cross-chain transaction with just a couple of taps.
Having very low fees and skipping useless steps to complete cross-chain transactions.
Security and thus reducing the risk of losing assets to 0 since the Chainge app is decentralized.
100% privacy — all Chainge cross-chain operations are in stealth mode.
From a technical perspective, this is what happens:
When a user wants to roam their assets from chain 1 to chain 2, their assets on chain 1 will be sent to an address that is controlled by multiple nodes, each of which has a private key, signing the transaction on chain 2 to send the asset to the user. Thus, everything will happen automatically in the background without you having to worry about a thing.
One might argue that centralized exchanges (CEX) provide the same kind of service, knowing you are able to send your balance to any chain. However, there are a couple of major differences. CEXs don’t actually have real cross-chain tech. What they do is create a “clone” of your asset. That clone only exists and is validated by the value given to it by the CEX. And since it’s centralized, if the CEX is somehow hacked or if it simply disappears, your assets disappear as well.
To conclude, the cross-chain in stealth mode feature is outstanding simply because of its uniqueness. This level of interoperability can’t be found anywhere else. Cross-chain communication and cross-chain smart contracts are currently extremely difficult. Right now, there are already thousands of tokens, but each token can only move freely on a single blockchain and form its ecosystem.
The existing blockchain ecosystems are island ecosystems, and the internet of value is far from being truly interoperable. With Chainge, all of that well changes and so does the way we interact and use our assets, which can now be called universal assets.
In short, a Chainge “universal asset” is basically a regular asset with cross-chain superpowers that can hop to or from multiple chains instantly so that 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 is the assets and the operational possibilities within the Chainge.app so that you can make the best out of your investment.
As a secondary trait, with a universal asset, you can make various operations in the Chainge.app that derive income (passive or otherwise). For example, USD Coin (USDC) is currently able to cross-chain roam among a whooping 14 chains and can be traded, time-framed, added to liquidity pools, etc.
If you want to see the cross-chain roaming solution in action and what a DeFi ecosystem governed by universal assets (not by chains) looks like, all you have to do is download the Chainge Finance app from the Play Store or App Store.
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Check out their website.
Read more on Medium.
Deep-dive into the tech: www.fusiondev.gitbook.io
Download the Chainge Finance app from the App Store or Play Store.
Want to know more? https://linktr.ee/Chainge.Finance