Cross chain technology was created as a decentralized solution so that blockchains can communicate with one another without the help from other intermediaries, in most cases a centralized party e.g. an exchange or a custodial wallet. Blockchains operate in silos, making it difficult for blockchains to interact and communicate with one another. Cross-chain technology was designed to fix that problem. This technology avoids reliance on a centralized entity, i.e. avoids third party risk, gives users full custody of their crypto, with the goal of facilitating a faster processing time at a lower transaction cost, making it easier for people to transact across different blockchain networks. Such ability is described as interoperability in the blockchain context. Interoperability is the ability to share information across blockchain networks.