The need to bring blockchains and networks together for practicality is more present than ever. With so many blockchains available yet disconnected, the ability and potential to take blockchain to a mainstream level is not recognizable.
Interoperability is the operation of multiple blockchains working together. By accessing and sharing data cross-chain it makes the communication rate much quicker and transparent for secure transactions. As most blockchains store a variety of different data it’s crucial to share information across as many blockchains as possible, and in real time to see it’s full potential.
There are many people who rely on blockchain for their income nowadays. From validating mining transactions to executing trades through smart contracts, the number is ever growing. The larger the network of blockchains is, the more information, data, and accessibility is available, as well as productivity means for developers and users.
So how can blockchain become a fully interoperable technology? Various forms of Interoperability are required for unique operations, there is no ‘one size fits all’. Some things such as Inter blockchain protocols are being rolled out among the few leading interoperable ecosystems. Various dApps, APIs, and layer 2 solutions are present, so the push for interoperability is beginning to build strong momentum.
There are three clear leading layer 1 ecosystems that are bringing this technology closer to realisation: Polkdadot, Cosmos, and Chainlink. Keeping up to date with these projects and realising the potential this has to change the entire crypto world is not to be underrated. With full interoperability, a decentralised ecosystem would allow access to the same cryptocurrencies, games, dApps, resources, and smooth, reliable supplies on a global scale. This can bring usable and sustainable access to various decentralised technologies for everyone.