There are many new blockchains projects out there claiming to be the best thing ever. You’re probably going to be surprised by the Ethereum killer or what have you. Have you ever wondered what the future of blockchain holds? It remains to be seen whether Ethereum can be successful in smoothly resolving the issues in the transition to ETH 2.0.
On the other hand, there are effectively many projects like Avalanche, Solana, Cardano, and Terra that can disrupt. Can bitcoin reign supreme over other assets? While the cryptocurrency sector appears to be growing, it is more likely to show that the future of blockchain is multi-chain. So, if you are planning to trade or mine Bitcoin, then you may visit chain-reaction-trading.com .
Don’t get confused with a cross-chain router; multichain refers to a multi-chain future for blockchain in which different ecosystems flourish when they can communicate with one another. As things stand, this is already taking place, and developers are placing more emphasis on it.
Several blockchain projects are beginning to communicate with one another using solutions like wrapped assets, inter-blockchain communication and cross-chain routers, which let users transfer their assets at will between other platforms.
Why is going multichain important?
Some of the main reasons associated with this are competition over resources. On the other hand, many similar applications on blockchain have limited resources competing with it, as well as problems such as congestion and high gas fees.
Reasons could include a chain’s specialty, which makes some chains better suited to a given activity and attract various sorts of developers, as well as a chain’s increased sovereignty or security. Our primary underlying blockchain platform at 3air is the SKALE Network.
The multi-chain scaling approach used by SKALE already enables 3air users to transact on-chain quickly, securely, and scalable without paying any petrol fees.
3air’s multichain plans
Scala and BSC will be the first chains on which 3air aims to deploy its apps. During this successful launch, we may aim for potential future targets like Near, Avalanche, Phantom, and Milkomeda. Both our NFT marketplace and our Digital Identity solution are currently operational on the SKALE testnet.
The NFT market has become very important to 3air mainly because of the ease with which you can access your internet services that employ NFTs. On the other hand, NFTs have to be scaled from BSC to SCALE. We will offer a bridge to enable the token’s use on SKALE as well after it is issued on BSC.
Cross-Chain Routers and Bridges
We stated that a multichain future should not be mistaken for multichain. But, MultiChain will be essential to the multi-chain future in addition to cross-chain routers and bridges. Several platforms are thriving, including Router Protocol, Multichain, Celer, etc. They enable users to transfer their assets between chains. A crucial feature that enables users to freely switch among protocols is the capacity to transfer assets from one blockchain to the other.
As either the blockchain field evolves, the necessity for interoperability between chains is going to become increasingly crucial. The initiatives that make it most convenient for most potential users to obtain their services will come out on top. Only with a successful transfer of assets from one chain to another is this feasible.
However, due to scalability problems brought on by the quick development and use of cryptocurrencies, transaction times and costs have increased dramatically. With how things are right now, multi-chain is regarded as one of the top alternatives that might, in theory, result in endless scalability. Multi-chain is undoubtedly the way of the future; we simply need to keep searching for the optimal answer because it hasn’t been found yet.