How will interoperability affect the future of blockchain development?
It goes without saying that blockchain technology has had a huge impact on the 21st century. In less than 15 years, blockchain has had a positive effect on the decentralized development of society, and the financial world would not be the same without it.
At the same time, NFT has had a huge impact in the art world. Modern artists cast their own NFT, games issue NFT, and the emergence of NFT has affected all aspects of the entertainment industry.
And after that,The scalability and interoperability of the blockchain has become an important development direction, and both DeFi and NFT need breakthroughs to reach new levels。
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What is interoperability and why is it important?
Interoperability in computer engineering refers to the ability of software to communicate with other software to efficiently transfer and process information, and this is important because multiple systems often need to talk to and understand each other.
In the world of blockchains, interoperability refers to all the ways and technologies at our disposal that allow blockchains to transfer information, assets and data between each other.
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Lack of interoperability will hinder our progress
Different blockchains such as Ethereum, Polkadot, Bitcoin, Cardano, XRP, etc., if users want to conduct cross-chain transactions, they will encounter the problems we discussed today.
Typically, users solve problems by shifting fees and building bridges. However, we cannot easily convert assets on one chain to assets on another chain.
We want to mix and match different blockchains to create an interoperable smart contract Web3 platform。
Currently, most smart contracts usually only apply to one blockchain, which makes them limited.
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Benefits of Blockchain Interoperability
Although blockchains today offer vast ecosystems, the ability of these ecosystems to interact with each other is very limited. Increased interoperability will bring several benefits.
For smart contracts, if smart contracts can be easily executed across chains. Some platforms that focus on this, such as t3rn, also ensure that all contracts within their framework can be used by anyone, and developers of contracts can choose to get paid when their code runs.
Interoperable smart contracts could revolutionize certain areas such as commerce, law, or healthcare by ensuring that information can be transferred between private and public chains in a secure and customizable manner。
For Web3, being able to mix and match different blockchain applications and protocols allows us to create new and exciting Web3 tools.
While convenience, the most important step towards widespread acceptance of Web3, interoperability can ensure that beginners do not need to know too much about blockchain and its complexities to enter the field.
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elements of interoperability
There are several ways to improve interoperability.
The first is the side chain, which is a Layer 2 platform.It represents a separate blockchain network that is fully compatible with the blockchain called the main chain. For example, Polkadot is committed to developing parallel chains so that different blockchains can be interconnected.
This is followed by smart contract hosting platforms, and probably the most important element of interoperability is interoperable smart contracts.
Some smart contract hosting platforms allow their users to host their contracts on them and then execute them on a variety of different chains.
They also open the door to a new world of open source development, helping us achieve the breakthroughs needed to bring Web3 faster.
The last is bridging and Swap technology, bridging and Swap technology is an important means to improve interoperability.
Bridging allows assets owned by the user to be locked, and the same asset is minted on a different chain and sent to the user's addressepilogue
epilogue
Every major blockchain advancement such as NFT, DeFi, etc. requires us to reach and break through the technology platform. Yet again, our technology is being tested and the biggest hurdle for Web3 is rearing its ugly head, our lack of interoperability.
Interoperability enables truly connected blockchains, where smart contracts can be executed across multiple chains and assets can be easily transferred from one chain to another. Additionally, truly interoperable blockchains are easier for users to onboard.
The original text comes from zycrypto, compiled and organized by Blockchain Knight, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
The original text comes from zycrypto, compiled and organized by Blockchain Knight, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
