DeFi is Becoming Increasingly Cross-Chain

Futurism Tech Brief By HackerNoon

This story was originally published on HackerNoon at: https://hackernoon.com/defi-is-becoming-increasingly-cross-chain.
In this article, we’ll take a look at the latest iteration of the Inter-Blockchain Communication protocol (IBC), and what this new feature means to you.
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Interchain Accounts are here. And they have the power to elevate the Cosmos ecosystem to a whole new level, ramping up interoperability between IBC-enabled chains and bringing composability to Interchain transactions. In this article, we’ll take a look at the latest iteration of the Inter-Blockchain Communication protocol (IBC), and what this new feature means to you. DeFi Is Moving Increasingly Cross-Chain With the explosion of DeFi from its initial experiments to the burgeoning sector it is today, never before has the need for interoperability been so clearly underscored. An alternative financial system reimagined from the ground up without gatekeeping intermediaries quickly became dominated by whale traders. Gas fees on Ethereum soared through the roof reaching over $200 per average transaction, and the hundreds of DeFi dApps built on-chain struggled for throughput and scalability.