Cross-chain technology allows the exchange of information and value across blockchain networks. It essentially breaks the blockchains' siloed nature and, as a result, creates a web-like interconnected ecosystem.
A cross-chain, on the other hand, operates independently of connected platforms, thus avoiding the problems of its interfaced networks. Inter-blockchain technologies aim to eliminate intermediaries when moving value between decentralized networks, allowing users to engage with other blockchains without barriers.
Polkadot, Blocknet, Cosmos, and Wanchain are among the most prominent cross-chain projects. Each of these endeavors to achieve interoperability in a certain area. Polkadot, for example, aims to improve data sharing between distributed platforms whereas Blocknet is more focused on a decentralized exchange (DEX) that links blockchains.
Interoperability with blockchain technology should help to minimize intermediaries or third parties, which are associated with centralized systems. The ability for various decentralized networks to interact with one other without the need for any intermediaries might go a long way toward producing fully decentralized systems.
Inter-blockchain communication allows for token transfers between different networks, promoting interoperability, which is critical for financial ecosystems to flourish.
Cross-chain technology also allows users to benefit from the advantages of various consensus algorithms, allowing them to get the best of all possible worlds. Using cross-chain technology, the EMBR is also compatible with the Ethereum blockchain, and other blockchain's in the future.
Leveraging the Binance Chain's cross-chain technology, EMBR will be able to send/receive tokens between different chains, such as BSC, Ethereum and Polygon. This enhances user experience by allowing DEXs to have lower fee transactions while avoiding the problems of intermediary tokens. EMBR has a high transaction speed, low fees, an increase in the number of users, and makes cross-chain communication easy.