Imagine a world with poor train station connectivity. Where trains never stop at stations with multiple line access, and can only go from A to B. How long would your commute take? How many different trains would you need to take every day?
This is life without interoperability in cryptocurrencies.
Without cross-chain protocols, cryptocurrencies will never be fully adopted and integrated into everyday life. Would you take the train to work if you had to get 5 or 6 different trains just to arrive? I’m going to go ahead and guess not. This is how the Cosmos Hub (ATOM) and Quitrian Finance (QTM) are saving the world of cryptocurrencies.
ATOM induced interoperability
The Cosmos Hub (ATOM) was the first mover in bringing interoperability into cryptocurrencies. Calling itself the ‘Internet of Blockchains’, ATOM is creating a vast network of web3.0 and DeFi applications that can cooperate and coincide with each other, cheaply.
The project was the first to establish a focus that centred around interoperability. Returning to our train analogy. Instead of building a railway system where one station is connected to only one or two others, Cosmos is building a network where every station is connected to every other station. There are seamless connections between every application built on its network, making the Cosmos Hub extremely attractive to build on over other Layer 1 blockchains.
This is one of the most important problems surrounding blockchain scalability that ATOM is solving. Scalability is directly correlated to interoperability.
Where do you see the future of cryptocurrencies?
If you believe that the future of blockchain adoption relies on the successful integration of networks then ATOM would make a great choice of investment. Being the first mover in interoperability, the Cosmos Hub has a very deep-rooted community.
Setting a double all-time high at around $44.40, the token is currently trading between $14 and $15. During this bear cycle, ATOM’s sell-off proposes a great opportunity to buy into a project that’s been around for years and has some strong developers behind it.
Quitriam Finance, the astonishing new interoperable DeFi protocol
With possible inspiration from the Cosmos Hub, Quitriam Finance is reshaping what we currently know as the DEX – Decentralised Exchange. Taking the cheapest (and fastest) transaction from the range of blockchains it is partnered with, QTM has established a decentralised interoperable Exchange.
Partnering up with Avalanche, Polygon Matic and the Binance Smart Chain already – 3 of the top 5 ecosystems regarding Total Value Locked (TVL) – Quitriam Finance threatens any current established DEX. The development team is planning mass and rapid partnership expansions in Q4 of this year and it is already up 90% in the first month of its presale.
QTM could also very quickly disrupt the NFT sphere as it is incorporating a multi-chain NFT feature to allow for boosted liquidity pool pairings. This would allow you to mint NFTs from both the QTM system as well as its existing partners.
Could Quitriam Finance bring you ATOM-ic returns?
Nobody knows how long this bear market cycle will continue for. But thinking about the future of the cryptocurrency industry is how the future millionaires will make it. Interoperability-focused projects will see the greatest returns on investment and QTM sits in this category.
If you’ve been looking for the next coin with nuclear potential then check out Quitriam Finance below:
Presale: https://presale.quitriam.io/register
Website: https://quitriam.io/
Telegram: https://t.me/QUITRIAMFINANCEOFFICIAL
Twitter: https://twitter.com/quitriamfinance
Instagram: https://www.instagram.com/quitriam_finance
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
Source: https://cryptodaily.co.uk/2022/05/interoperability-in-cryptocurrencies-why-we-need-to-focus-on-cross-chain-functions