With the in-depth development of blockchain technology, the exploration of blockchain in various industries has never stopped. As one of the most emerging technologies in the 21st century, blockchain has been gradually applied in various scenarios.
However, technical challenges such as blockchain structure system, consensus algorithm, protection of user privacy, smart contract development, system underlying performance, transaction throughput, and cross-chain communication between different blockchain systems are increasingly restricting blockchain technology. and its industry development.
At the same time, due to the isolation and closure of blockchains, as well as the high degree of heterogeneity between chains, data circulation and value transfer between blockchains have become technical bottlenecks that hinder the widespread application of blockchain technology.
At present, the blockchain industry is developing rapidly, and the emergence of various public chains, private chains, and alliance chains has created the same problem, that is, how to communicate and even exchange value between different blockchains? In order to achieve the organic integration of blockchain projects in different industries, achieve the interconnection between blockchains, and then realize the purpose of inter-chain transfer of business and value, the blockchain has an actual and urgent demand for cross-chain interaction technology. Therefore, Cross-chain technology emerges accordingly.
The emergence of "cross-chain" technology aims to solve the cross-chain operation problems of assets and data between different chains, realize the interconnection of blockchains, and improve the interoperability and scalability of blockchains. Important technical means.
Let's take Free-earn, a popular cross-chain project in the market recently, as an example to study the application of cross-chain technology in various scenarios. To put it simply, Free-earn will create a cross-chain transfer bridge network, fully compatible with EVM virtual machines, focusing on building future asset interconnection networks, focusing on non-standard asset NFT auction market, stable currency cross-chain, asset exchange and other fields, Provide infrastructure for cross-chain and multi-chain applications.
Free-earn will use certain specific technical means to allow value to directly interact across the barriers between chains, thereby realizing asset circulation and value transfer between different blockchains. The realization principle of Free-earn is consistent with the principle of currency exchange in real life, that is, to achieve the purpose of asset transfer between different blockchains through established legal and compliance guidelines.
From the perspective of commercial applications, Free-earn is equivalent to a trusted third-party exchange, through which different users can conduct cross-chain transactions, and will not change any blocks during the cross-chain process The total value on the chain only completes the value exchange between users of different blockchains.
The emergence of Free-earn will be a powerful booster to promote the large-scale and rapid application of the blockchain industry, and it will also bring the most core and key technologies to the blockchain 3.0 era. Just like China Mobile, China Unicom, China Telecom and other technologies based on the traditional TCP/IP transmission protocol in the 4G era, it can realize the common connection of telephones of different operators. We can also understand Free-earn as a protocol that solves the problem that assets and functional states on two or more different chains can be transferred, transferred, and exchanged with each other.
Compared with the TCP/IP transmission protocol, Free-earn effectively solves the problems of value loss and double payment in the process of synchronizing data between ledgers. Free-earn not only realizes the transmission of information, but also ensures the flow of value between different blockchains under the premise of value conservation.
All in all, the emergence of Free-earn will become a bridge and hub linking different chains, the key to realizing value interconnection, and it will also become one of the favorable means for the blockchain to expand outward and break the value islands formed by the blockchain. Free-earn will enable value exchange between different chains, which not only ensures the accuracy of information flow, but also ensures the reliability of two-way value circulation.
In 2023, the emergence of Free-earn will push blockchain technology to a deeper application side, break through the performance and functional bottlenecks of the underlying public chain, and achieve cross-chain interoperability, which will also make up for the various limitations of blockchain technology in application scenarios. Disadvantages. It is believed that in the near future, Free-earn will promote cross-chain technology to become another development trend, create a more promising and dynamic business model, and open a new era of Wanchain interconnection.
Disclaimer: This article is reproduced from other media. The purpose of reprinting is to convey more information. It does not mean that this website agrees with its views and is responsible for its authenticity, and does not bear any legal responsibility. All resources on this site are collected on the Internet. The purpose of sharing is for everyone's learning and reference only. If there is copyright or intellectual property infringement, please leave us a message.