Why 2021 Will Be the Year of Cross-Chain?

2020 was the year in which DeFi took the blockchain world by storm. While the rest of the planet will most likely remember 2020 as the year of COVID-19 and lockdown, crypto enthusiasts will also remember it as the year of crypto lending, borrowing, liquidity mining, and the much-reported upon Total Volume Locked (TVL) graph. That was not without good reason, however, as in 2020 the TVL in DeFi protocols grew from $675M to $16.2B. Other parts of DeFi also performed well as the dollar value of stablecoins rose from $5B at the start of the year to $26.4B. It wasn’t all good news for decentralized finance, however, as the Ethereum chainopoly which shoulders the bulk of DeFi was placed under increased stress, with transaction times slowing to a standstill and gas fees rocketing. Average transaction costs on the network spiked in 2020 from a few cents at the very…

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