How does the REF work?

Could you please explain in detail how the REF, or the Reference Exchange Framework, functions within the cryptocurrency ecosystem? I'm particularly interested in understanding how it facilitates cross-chain transactions and enhances interoperability between different blockchain networks. Additionally, how does the REF ensure security and stability for transactions taking place on its platform? Lastly, are there any specific challenges or limitations that the REF currently faces, and how is it addressing them to ensure continued growth and adoption within the cryptocurrency community?