Navigating Cross-Chain Transactions with InterSwap. ⚔️⛓️
In the ever-expanding realm of blockchain, the ability to seamlessly exchange assets across different chains has become a pivotal challenge. Let's delve into the intricacies of InterSwap and compare it to the conventional approach of using bridges.
🟦 Bridges and Aggregators:
▪️Intermediary Process: Requires users to exchange assets through an intermediary or wrapped asset.
▪️Wrapped Assets: Users send asset A, receiving wrapped A (wA) on the destination chain, which is then swapped for asset B.
▪️Aggregators: Attempt to unify options but don't fundamentally address the core issues.
🟦 Challenges with Bridges:
▪️No Native Asset: Reliance on wrapped assets introduces complexity.
▪️Multistep Process: Involves multiple steps, approvals, and swapping from wrapped to native, and vice versa.
▪️Risk of Reversal: Possibility of transaction reversal due to insufficient liquidity.
▪️High Gas Fees: Incurs high gas fees at various stages, including potential transaction reversals.
▪️Exploit Risk: Vulnerability to exploits due to custodial asset holding in the bridge contract.
🟦 Enter InterSwap:
▪️Direct Native Asset Swapping: Facilitates direct swaps without intermediaries.
▪️No Wrapped Assets: Reduces complexity by eliminating the need for wrapped assets.
▪️Non-Custodial: Minimizes the risk of exploits through a non-custodial approach.
▪️Seamless Transactions: Offers a smooth experience for cross-chain transactions.
▪️Potential Cost Savings: Streamlined processes may lead to lower costs.
🟦 Key Advantages of InterSwap:
▪️Direct Swaps: Eliminates reliance on wrapped assets.
▪️Simplified Process: Reduces steps and complexities.
▪️Lower Reversal Risk: Decreases the likelihood of transaction reversal.
▪️Non-Custodial Security: Enhances security by being non-custodial.
▪️Cost Efficiency: Improves cost efficiency with streamlined operations.
