Cryptocurrency Q&A
How do cross chain tokens work?
How do cross chain tokens work?
EthereumEagle
Tue Nov 05 2024
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7
answers
1393
I'm curious about cross chain tokens and how they operate. Could someone explain the mechanism behind these tokens that allow them to function across different blockchain networks?
7 answers
DigitalLordGuard
Thu Nov 07 2024
This process allows tokens to become accessible within a broader onchain financial ecosystem.
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OpalSolitude
Thu Nov 07 2024
Once transferred, tokens can be utilized in various ways across different chains.
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ShintoSpirit
Thu Nov 07 2024
One application is as collateral in decentralized finance (DeFi) protocols.
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GinsengBoost
Thu Nov 07 2024
Cross-chain token transfer involves the migration of an asset from one blockchain network to another.
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CrystalPulse
Thu Nov 07 2024
Another use case is for making payments across different blockchain networks.
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