{"id":3194,"date":"2022-10-28T21:17:03","date_gmt":"2022-10-28T18:17:03","guid":{"rendered":"https:\/\/decimalchain.com\/blog\/?p=3194"},"modified":"2022-10-28T21:17:33","modified_gmt":"2022-10-28T18:17:33","slug":"ibc-and-cross-chain-bridges","status":"publish","type":"post","link":"https:\/\/decimalchain.com\/blog\/ibc-and-cross-chain-bridges\/","title":{"rendered":"IBC and cross-chain bridges"},"content":{"rendered":"

New opportunities have also appeared with the introduction of cryptocurrencies \u2014 sending assets to another continent in a mere matter of minutes. But more than just digital assets as an alternative to conventional ones were needed, so, after the first generation of blockchain, two more generations were born, with additional features that weren’t foreseen initially. We’ll tell you a little later about the generations of blockchain, what they are and why they fall into different categories, and what blockchain is made of. But for now\u2026<\/span><\/p>\n

Opportunities<\/span><\/h2>\n

With the coming of recent generations of blockchains, the focus has been on multifunctionality and limitless action. A blockchain’s borderlessness is achieved through bridges, which are particular communication protocols between independent networks. Bridges are needed to transfer assets between blockchains with different economics, functionality and structure. This freedom allows developers of different networks to work together on projects and opens up great opportunities for collaboration among companies as well as users. For the latter, it is also very convenient, because, with the advent of bridges, they do not have to get rid of assets on one blockchain to get them on another. Additional fees and potential losses due to the volatility of each token do not seem convenient or profitable. That’s where crosschain bridges come in, which are specific protocols that can be used to move assets freely between blockchains.<\/span><\/p>\n

Cross-chain bridges can be divided into several types:<\/span><\/p>\n