As the crypto market continues to mature, with the total market capitalization of the industry recently hitting the $3 trillion mark, the idea underlying cross-chain compatibility seems to be garnering an increasing amount of mainstream traction. In its most basic sense, cross-chain tech refers to any system that allows for the transmission of value across different blockchains in a frictionless manner.
In this regard, with crypto networks like Bitcoin, Ethereum, Cardano, Ripple continuing to accrue a growing army of users, the need for interoperability between these different ecosystems seems to be increasing at a rapid rate, especially since these platforms exist in isolated silos as part of their current iterations, making it difficult for them to interact with one another.
Binance Bridge, which as the name suggests, is one such platform that was designed to help provide users with tools capable of weeding out the technical complexities associated with cross-chain asset movements, allowing users to seamlessly transfer their tokens between Ethereum and BINANCE Smart Chain (and vice versa). However, with the project recently shutting down, an increasing number of crypto enthusiasts are on the lookout for alternatives.
Superior alternatives are the need of the hour
Even though on paper projects like Binance Bridge (as well as other similar options) seem quite attractive, it is worth noting that they are largely centralized — i.e. backed by a single governing authority — and therefore are quite limited in terms of their overall utility and functionality. For example, adding tokens on Binance Bridge required the unanimous approval of the platform’s executive brass, a complex and time-consuming procedure, to say the least. Not only that, much like most other centralized ecosystems, it was trust-based and subject to the whims of various regulations and restrictions imposed by governmental agencies.
On the other hand, projects like Hashbon are designed to revamp the current crypto payments landscape by providing users with the tools that can allow them to facilitate cross-chain swaps as well as dabble in the world of decentralized finance (DeFi) with the touch of a button. To elaborate further, Hashbon Rocket comes replete with an interoperability model that allows for seamless exchanges between different blockchains, all while allowing participants to make money in a quick, easy manner.
For example, via the use of HASH tokens, the native cryptocurrency of the Hashbon ecosystem, it is possible for owners to not only earn staking rewards but also participate in a variety of transactions, allowing them to become the platform’s arbiters.
A detailed look at Hashbon Rocket
Straight off the bat, it should be noted that Hashbon Rocket is meant to provide users with an efficacious means of exchanging any ERC-20 token into one of the many BEP-20 variants that are native to the Binance ecosystem. As highlighted previously, the Hash CDEX, powered by the Hashbon blockchain, is designed to make cross-chain transactions seamless while offering a high level of operational security and transparency. Furthermore, the platform is future-ready, such that it is fully compatible with any additional blockchains that users may wish to transact with in the future.
Additionally, Hashbon features a number of other peripheral features that make it a highly attractive alternative to platforms like Binance Bridge, UniSwap, and PancakeSwap. For example, the ecosystem comes laden with a wallet solution as well as an intuitive CDEX that enables transactions across multiple blockchains in a convenient, cost-efficient manner.
If that wasn’t enough, any project has the option to list its token on Hashbon’s native CDEX, a feature that is currently not available on most other platforms of a similar nature. Not only that, Hashbon Rocket ensures exchange fairness by employing a network of arbitrators all while putting no limits on how much money a user may wish to exchange, In this regard, it should be noted that when it comes to Binance, the minimum and maximum exchange limit is $130 and $10,000 USDT respectively.
Lastly, Hashbon recently announced the release of its native staking module, allowing HASH holders to gain access to the highest possible APY and APR among all available staking opportunities. Unlike most DEXs that only support swapping of tokens within a particular blockchain ecosystem, Hashbon Rocket lets users swap tokens across multiple networks, giving it a major advantage in comparison to its DeFi contemporaries.
Looking ahead
As we move into an increasingly decentralized future, it appears as though the need for cross-chain interoperability will only continue to increase and grow. This is best highlighted by the fact that Ethereum, the clear leader within the realm of DeFi tech and crypto payments has seen its gas fees hover around the $40 mark in recent months, resulting in a growing army of users seeking out other, more efficient alternatives. Therefore it will be interesting to see how the future of this fast-evolving space continues to play out from here on end.
