CandleFocus ICF reports on cross-chain progress
2025-01-14
Author: Content Editor
The ICF's 2024 Cross-Chain Interoperability Report highlights the growth of cross-chain ecosystems, with Ethereum dominating flows between various blockchains. The most active cross-chain route is from Ethereum to Arbitrum, with a total volume of $10.7 billion. Major players in cross-chain interoperability include Interchain's Inter-Blockchain Communication (IBC) protocol, Hyperlane, and LayerZero. Circle's CCTP is the go-to for high volume cross-chain transactions. Intent-centric bridging protocols are emerging as a preferred method for quick and cheap asset transfers, while zero-knowledge proofs (ZKPs) are gaining interest for enhancing scalability and security. Fragmentation remains a significant challenge, hindering seamless interoperability between different blockchain ecosystems.
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