Why INTEROPERABILITY Is Important For The Future of Blockchain & The Pioneers Paving The Way...

6,249 Views · Posted 6 years ago

As blockchains move away from their ERC-20 ICO placeholders into their native mainnet chains, we find that cross chain communication is becoming harder and harder. Essentially what we find is what is referred to as “data silos” or “data islands.” With so many different applications and use cases, these specific blockchains find themselves “stuck,” unable to send data and information anywhere outside their own ecosystem. While “chain on chain” approaches work very well within native chains, for example Komodo, ælf, or Lisk, they are still restricted to their own specific blockchains. As the “tokenization of everything” begins to sweep the place we will eventually need some form of “blockchain glue” to connect together all these fragmented pieces. The projects currently leading the way include ICON, Wanchain, AION, ARK, Blocknet, Lamden, Metronome, Cosmos, Polkadot, Quant Network, and Block Collider. However, new projects as well as existing projects are beginning to also show interest in the idea of inter-chain communication and have been taking many steps forward to achieve it. Inspired by the Coindesk article “The Opportunity for Interoperable Chains of Chains” and sourced from Invest In Blockchain article “The Race For Cross-Chain Communication” by Ibrahim Ludwick, the road to decentralized interoperability will be a difficult one for sure, but a most certainly needed one.

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0:01 What is the significance of interoperability?
3:42 ICON (ICX) https://icon.foundation/?lang=en
4:55 Wanchain (WAN) https://wanchain.org/
5:40 AION https://aion.network/
6:29: ARK https://ark.io/
7:46 Blocknet (BLOCK) https://www.blocknet.co/
9:17 Lamden (TAU) https://lamden.io/
10:16 Metronome (MET) https://www.metronome.io/
11:35 Cosmos (ATOM) https://cosmos.network/
12:49 Polkadot (DOT) https://polkadot.network/
13:46 Quant Network (QNT) https://www.quant.network/
14:26 Block Collider (EMB) https://www.blockcollider.org/
15:33 Final Thoughts

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DISCLAIMER: I am not a financial advisor. This is not financial advice. This is just my opinion. Always do your own research before investing. I am not responsible for your trades…

Coindesk Article: https://www.coindesk.com/opportunity-interoperable-chains-chains/
Source & Credits: https://www.investinblockchain.com/blockchain-interoperability-projects/

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