{"time":1720701174894,"blocks":[{"id":"ZX5_RybqRd","data":{"text":" What is one major factor you consider before engaging in DeFi activities in a chain or across chains, as the case may be? ","level":2},"type":"header"},{"id":"HW0hG36M-D","data":{"text":"The common answer would be accessibility and interoperability; this is a shared sentiment amongst developers, degens and long-term investors, hence the need for interchain bridges and wrapped tokens.\n"},"type":"paragraph"},{"id":"iaSIE3Icxz","data":{"text":"\nBut, do we stop there? "},"type":"paragraph"},{"id":"39Tb3UeOZy","data":{"text":"The existence of the blockchain involves ever-evolving technology, there’s a solution for every solution founded."},"type":"paragraph"},{"id":"L7u91SSRDX","data":{"text":"That brings us to the case of using bridges to access cross-chain products. While this may have served and is still serving in most cases, we cannot overlook some of its disadvantages, like security breaches and alarming costs for a single transaction (this would vary with respects to from which chain to the other)."},"type":"paragraph"},{"id":"4qKLdv4hwz","data":{"text":"What about the issues related with providing wrapped tokens? "},"type":"paragraph"},{"id":"tm5wo2qu6k","data":{"text":"Hold on, undoubtedly wrapped token solves the problem of cross chain interaction a great deal but to what length? "},"type":"paragraph"},{"id":"ZRvBlrjcxU","data":{"text":"Do we just stop at that solution? "},"type":"paragraph"},{"id":"g74-RfhpX6","data":{"text":"Thus overlooking pending issues that could arise like Centralization risk, regulatory concerns, amongst others and also not overlooking that this concept might be a little complex to comprehend for individuals without prior knowledge of defi."},"type":"paragraph"},{"id":"lvPfoSb4_w","data":{"text":"That brings us to Interchain Token Service;"},"type":"paragraph"},{"id":"WG-p5QUHVy","data":{"text":"Interchain Token service, a smart contract deployed by Axelar Network that solves the problem of token existing interchain and simplifies how they are able to interact with one another without the hassle involved with the above options. It manages the creation and management of Interchain Tokens and Token Managers and automates the process of deploying across EVM-based networks.\n"},"type":"paragraph"},{"id":"-BPTH3NChL","data":{"text":"\n“ An Interchain Token is an ERC-20 token that can be transferred between blockchains, preserving native token qualities.”\n"},"type":"paragraph"},{"id":"3owqA-Ge5l","data":{"text":"\nTo simplify the jargons, Here is a case study of AethirCloud's token:"},"type":"paragraph"},{"id":"sJ7MJiJxWc","data":{"text":"$ATH is on the Ethereum mainnet and the Arbitrum Layer-2 blockchain.\nIt is launched as a multichain token using Interchain Token service, and with this, you’re able to swap $ATH token to any of the networks supported. "},"type":"paragraph"},{"id":"WV7yko1r50","data":{"text":"To plainly state it; Interchain Token Service enables any project from any chain to deploy ERC-20 tokens across multiple blockchains."},"type":"paragraph"},{"id":"7HT8XV5xM3","data":{"text":"\nThe ITS Portal's step-by-step process ensures a smooth and secure way for users to create or register Interchain Tokens, contributing to the growth and development of the Interchain network."},"type":"paragraph"},{"id":"Fi-Ya_hO0j","data":{"text":"\n\nHow to build an ITS Token? Here’s a detailed tutorial guide by the Axelar Network team: Here"},"type":"paragraph"}],"version":"2.26.5"}