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Explain, what is multi chain? What is cross chain?

Time : 26/07/2022 Author : 32jic1 Click : + -
        According to the research conducted by grandreview, the blockchain market will reach US $394.6 billion by 2028, and there is no sign of any slowdown in its market growth. When the blockchain was in its infancy, it was mainly applied in closely connected communities. Now it has been extended to large enterprises, investors and even local governments. However, with such rapid expansion, a new wave of challenges is coming, especially in terms of scalability. It is well known that blockchain has congestion and scalability problems. These problems will have a long-term impact, resulting in slower transaction processing time and increased transaction costs, thus making the user experience poor.
        This is not a problem unique to a specific chain, but it is particularly obvious for Ethereum, the largest blockchain network at present. This has led some developers to turn to other networks, such as providing higher speed Solana or Cardano blockchain networks. At the same time, most developers believe that the solution for the popularization of defi (decentralized Finance) and its use by the public lies in cooperation rather than competition, which has entered the Multi Chain universe. As the name implies, multi chain refers to multiple blockchains. At present, there are more than 100 active public blockchains, and the Multi Chain ecosystem refers to an ecosystem in which multiple blockchains are interconnected. Its ultimate goal is to improve user experience, improve efficiency and allow wider adoption.
        But this requires an effective cross chain solution. When building blockchains for the first time, they were conceived as a solution that can be applied to all operations, which means that all transactions, smart contracts or anything else are executed on the same chain. Cross chain is the interoperability between two relatively independent blockchains. In other words, it allows blockchains to communicate with each other because they are built in a standardized way. For the isomorphic chain, the security mechanism, consensus algorithm, network topology and block verification logic are consistent, and the cross chain interaction between them is relatively simple. For heterogeneous chains, cross chain interaction is relatively complex. Heterogeneous chains not only have different consensus algorithms, but also have different block composition and deterministic guarantee mechanisms. Therefore, it is not easy to directly design cross chain interaction mechanisms.
        Cross chain interaction between heterogeneous chains generally requires third-party auxiliary services. At present, cross chain projects are still in the exploratory stage. The promotion of cross chain projects in the future depends on the substantive implementation of blockchain applications. Cross chain demand depends on the functions and rights represented by blockchain applications and tokens, not just transactions, and ultimately establish a circulation network to connect digital assets. At present, the blockchain is still defined and experienced by each of its components, which means that from the perspective of users, it lacks mobility. Some people even compare it with the Internet in the early stage. Multi chain will subvert this experience. At that time, users may not even know which chain they operate on.
        This change makes it crucial for the blockchain to transition to a high-speed growth industry. Multi chain will support the adoption of blockchain in many fields, especially in finance and banking. Without such interoperability, transactions between banks using different blockchains will be very complex for all relevant personnel. However, with multi chain, data transmission will not only be simple, but also fast and safe. Similarly, in supply chain management, blockchain interoperability can bring great benefits. The characteristics of the blockchain will allow disconnected supply chain management systems to interoperate without high investment costs. Finally, interoperability will enable different development teams working in the "isolated island" to use and learn from each other's solutions, thus promoting innovation in the entire industry.
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