Here are the Top 4 Cross-Chains Solutions to Look Out For in 2022

One of the major issues affecting crypto investors today is how difficult it is to exchange/swap tokens across different networks. To be specific, not every currency available in the market today can be swapped seamlessly for another one. This is because there are very few bridges linking different ecosystems and even if there are they only support a fixed number of assets.

And, while there are a few projects that have devised their very own interoperability solutions, a vast majority of the most popular bridges today have in place numerous restrictions that make the above-said process extremely difficult. For example, Binance Bridge currently features a fixed number of transactions per hour while some other similar solutions only support certain token standards (such as ERC-20, BEP, etc). Another issue is that investors are required to complete two or more transactions before being able to transfer their funds to the ecosystem of their choice — all this after paying hefty gas fees and commission-related charges every step of the way.

However, as the industry has continued to mature, there are now options in the market that can help mitigate these issues. In this article, we will list some of the best cross-chain solutions available today. So, without any further ado, let’s jump straight into the heart of the matter. 

Centrifuge Connectors

Decentralized financing protocol Centrifuge’s cross-chain bridge ‘Connectors’ is designed to bridge the gap that currently exists between the real-world asset (RWA) market and decentralized finance (DeFi). 

Connectors facilitate the transfer of verified and permissioned tokens contained within its native liquidity pools to individuals operating across different chains. It achieves this via the use of its highly intuitive Solidity-based smart contracts that are deployable across various EVM-compatible bridges. Furthermore, Connectors allows users to withdraw/invest their funds into numerous asset pools using the native stablecoin of the target chain. 

Lastly, it bears mentioning that the platform has been launched in conjunction with Ava Labs – the parent body overseeing the operations of blockchain network ‘Avalanche’ – smart contract ecosystem Moonbeam, and optimistic interoperability protocol Nomad.

DeBridge

DeBridge is best described as an offering that enables cross-chain interoperability and liquidity transfers. It allows users to conduct cryptocurrency trades and exchange information across various protocols seamlessly while being powered by a network of independent oracles/validators.

From an efficiency standpoint, it should be mentioned that all cross-chain transfers taking place via DeBridge can be completed in less than 60 seconds. Lastly, the platform supports a total of five blockchains at the moment, these include Polygon, Binance SmartChain, Ethereum, Arbitrum, Heco.

Celer cCbridge

As the name quite clearly suggests, cBridge is an interoperability crypto solution devised by the Celer Network. The platform is multi-chain based and has been designed to allow users to facilitate any-to-any, low-cost, instant value transfers. However, what truly sets cBridge apart from its rivals is that in addition to supporting various layer-1 blockchains (i.e. Polkadot, Ethereum), it also works seamlessly with many layer-2 solutions including ZK Rollups, sidechains (such as Skale, Matic, etc), Optimistic Rollups, etc.

Technically speaking, cBridge provides seamless support for all EVM-compatible blockchains — including Avalanche and Fantom — for the purpose of cross-chain transfers. Transaction fees associated with the platform typically range between 0.04% to 0.1%. 

RenBridge

In its current iteration, RenBridge is designed to help facilitate seamless interactions (monetary and otherwise) across different networks including Binance Smart Chain, Avalanche, Solana, Arbitrum, Fantom, Avalanche, and Polygon. The platform allows users to deploy any wallet solution to transfer their Bitcoin, Bitcoin Cash, and Zcash.

RenBridge levies different types of fees — i.e. 0.15% for all burning-related processes and another 0.15% for every token minting transaction. Lastly, users are required to pay a small surcharge to compensate miners working on its connected blockchains. The charge for this is devised in real-time depending upon factors such as network congestion, macroeconomic conditions, etc.