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Anecdotes of Creating a Cross-Chain Protocol

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Blog / DeFi

Anecdotes of Creating a Cross-Chain Protocol

Spherium Finance

By Spherium Finance

Created 3 months ago, last updated 3 months ago
4 mins read
Anecdotes of Creating a Cross-Chain Protocol

Table of Contents

We build too many walls and not enough bridges - Isaac Newton.

Blockchain infrastructure has surged at such a pace that keeping up with their true nature and working models is a walkthrough and constant realisation of new technological advancements. Our understanding of the decentralised ecosystem has grown way out of Ethereum and now the decision of building a DApp is a combination of which Blockchain to build upon and how to use its inherent functionalities.

How we are able to move past the idea of building just one chain, will reflect massively the way scalability is approached.

Concept Proof of Interoperability

With the current blockchain ecosystems fragmented and working in silos, individual networks cannot provide an extensive correlated network. Instead, they communicate with each other freely, hence putting a limit on scalability and adoption.

Blockchain interoperability is meant to connect such disparate networks in a string of frameworks, making the exchange and leveraging of data and information between each other possible. These Interoperable systems are now taking the face of cross-chain protocols, utilising the best of all chains and creating an inclusive system of building the next set of financial applications based on the underlying decentralisation technology.

A significant barrier to the mass adoption of the technology is the lack of interoperability. Each Blockchain has its ecosystem with users, DApps, and a native currency. The evolution of these blockchains has targeted exclusivity rather than inclusivity. Still, with their incongruent behaviour, there wasn’t much incentive to make an extensive cross-chain ecosystem, bringing all of the chains together for protocols to add onto and be omnipresent.

Experiences of Team Spherium

Cross-chain systems have already played a vital role in enabling interoperability across different blockchain networks. But even these so-called cross-chain systems are not built to support all of the #DeFi functionalities. Therefore, implementing a chain agnostic approach in the crucial aspects of this decentralized economy is exactly what we are creating under the umbrella of Spherium.

But it comes with its hardships. So, while we have embarked on a journey to re-invent the integration of chains to interact perfectly with asset swaps, lending, borrowing, staking and more, we are here to share the anecdotes of creating a cross-chain ecosystem incorporating the most powerful applications.

The ideation of the idea in itself was a wild one, and our CEO shares her thoughts on why Spherium will play a key role in assisting  protocol move towards evolution in the light of DeFi adoption:

“Our perception and understanding of digital assets transfer is bound to change with new blockchains emerging to challenge the efficiency of every layer solution. After a certain point, protocols will have to go for all or nothing to fight for their relevance amongst a hoard of similar use cases. Hence, incorporating cross-chain solutions and omnipresent will become a standout for any protocol, adding significant utility and scalability. The future of cross-chain incubation is yet to pick up. Even before that, at Spherium, we are preparing to equip projects with every possible solution with cross-chain compatibility to make their expansion plans insurgent.”

What was actually interesting is the whole ideation of Spherium and how it came into the light, shared by our COO:

“Using Uniswap was just surreal at the time, but when the likes of BSC, Avalanche and all these L2 chains started building their own distinct identities, any project owner was confused with the idea, and so were the users who wanted to experience it all. When the first cross-chain systems started to boot, they were limited to supporting the chains or functionalities. When we sat down to create an inclusive DeFi experience for all, building a cross-chain compatible suite of applications was the idea that really resonated with us. We kept coming back to the fact that the process of aligning all these big and small blockchains needs to be put together to be accessed by projects and users in a friendly manner, pushing the cause of accessibility.”

Starting to build such an intricate cross-chain system, changing the way things were done, simplifying the process, and cutting down on the complicated systems of intra-chain connections were what our developers battled with as we started to build the first application, our cross-chain bridge. Here’s what our Lead Dev had to say about working on a cross-chain platform:

“ There is always an added layer of security, architecture and frameworks when working with L1 blockchains, but with an even more intricate solutions integration L1 and L2’s, the building process embraces a deeper look into how exactly the whole Web3 protocols are scratched out. Working on cross-chain compatible applications helped us really dig deep into the existing systems and remove the understanding curve for users, pushing the boundaries of innovation and decentralization to create meaningful experiences.

The way we approached the backend flow of our cross-chain bridge, curating it for better integration by projects, simple interface for users to access and secured logic to make the protocol least hack prone. Following this now, into our Staking, Leading and Swap applications, we are taking a new approach to build the new cross-chain ecosystem.”

Where do we plan to take the Chain agnostic approach?

As creators and early adopters in the new era of blockchain technology, we feel it is essential to put them all on the same pedestal and let the adoption take its course. The sophistication of this underlying technology will only grow from here on, and the new chains will be just as important as Ethereum or BSC will be. Creating such an open governance-led network where all chains and digital assets can come and interact is the future that we dream of making and empowering.

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