We all know what is meant by decentralization to the blockchain. But we also know that decentralization carries a lot of uncertainty. How can different blockchains link together? Can we find something universal in them?
Precisely because these doubts are increasingly vivid, speak of interoperability of blockchains it is an urgent issue today. This phenomenon is, on the other hand, destined to have a profound impact on the cryptocurrency ecosystem and beyond, and will undoubtedly lead to greater innovation and growth. But what is it? How does it work? And above all, what does blockchain interoperability mean?
Interoperability of the Blockchain
Blockchain interoperability is a very complex technology from a scientific point of view. However, its function is simple: allows different blockchains operating independently to connect and communicate.
Thanks to interoperability, blockchains can therefore share data, information and more. In other words, regular users can use different blockchains without worrying about compatibility issues. Not bad, right?
To understand better, let's take an example with e-mails. When sending an email to someone, you don't have to worry about choosing the same provider that the other person uses. In short, the users to whom we send an email could have Outlook, Yahoo or any other service, such as Gmail. It doesn't matter, because the email will reach the other address regardless of the provider. This interoperability of email technology is what has led to its success and wide adoption.
Unfortunately, this is not true with blockchains. Some blockchains are interoperable and there are several that are pioneering this technology, such as Polkadot, Cosmos, Cardano and others. However, most of them are not, so it is not possible to use them always and in all conditions. Against, with blockchain interoperability, each blockchain will be able to interact and send data and messages to another.
The importance of interoperability for the Web 3
As we all know, Web3 is on its way. And although we are not yet able to predict what it will be like, surely the various blockchains will play a fundamental role.
Furthermore, decentralized finance will be one of the most important parts of the Web3 and is one of the main reasons why we will need to introduce true interoperability of blockchains to make it a reality. People will want to manage their finances and make payments across the web and different blockchains without having to use different tokens and coins each time.
In addition to that, the different blockchains have different functionalities and a regular user will have to deal with many of them on a daily basis. This should be possible without worrying about interoperability. In essence, without interoperability it would be as if we could not use different sites and platforms on the web with the same ease and simultaneity as today.
So if we want to have Web3, we will need a way to implement the latest solutions on the new Internet just like we do today. In other words, we will need blockchain interoperability.
Some examples of blockchain interoperability
There are currently many projects trying to solve the interoperability problem, each in their own way. Polkadot e Cardano they are among the most important blockchains on the web that are dealing with them, albeit in a different way.
Polkadot uses parachains, which function as individual Layer-1 blockchains and can run concurrently on the Polkadot network. Each chain relies on the security of the main chain, but retains its individuality. On the other hand, Cardano focused on smart contracts from the start, which actually led to interoperability.
Cardano and Polkadot are not the only projects trying to solve interoperability between blockchains. There are also many other smaller initiatives that have gone further such as, for example, t3rn, a smart contract hosting platform that offers interoperable smart contract implementations plus a security mechanism that ensures the reversibility of transactions. another thing that is currently not possible with most blockchains.