Does Vite support Crosschain? How?
felicity last edited by felicity Reward
Currently, there are more than 1,900 blockchain projects on CoinMarketCap, which means we have at least 1,900 different cryptocurrencies. What if someone only accepts ETH, and you only have BTC? You can go to an exchange or have an off-site transaction. But why must we rely on the exchange? There have been many problematic cases with centralized exchanges, such as Mt.Gox, the exchange is already shut down, and Liqui.io the recent one with notice "you have 30 days to withdraw your tokens"
Furthermore, ETH and BTC are too different in infrastructure to communicate with one other, so why can’t we find a way for direct transactions? The 1,900 cryptocurrencies are in fact like a thousand islands of value in silos, and there’s no direct path connecting the transactions among them. It’s high time we see a resolution, and that’s where cross-chain comes in.
The cross-chain is designed to enable trade at any amount between two chains, and the amount of the transaction needs to be verified with sufficient security, and it might not return to the original chain in a short period of time, or at all. Meanwhile, the cross-chain can even achieve smart contract interaction, which is beyond the reach of the two technologies mentioned above.
I'd like to know if Vite support Crosschain? And how CrossChain will work in Vite network?