Interoperability - The Holy Grail of Blockchain

Interoperability is the characteristic of a computer system or network, to interact, exchange and make use of information with an independent, outside system or network.

 

For the majority of it’s existence, Bitcoin was thought to be the roots from which everything would be based, the trust layer of the internet, and that all other needed functionality would be built upon it, hundreds of blockchains processing millions of transactions, as layers, all secured by Bitcoin. What has instead happened is an explosion of diversity in the blockchain ecosystem with many projects based on many differing cryptographic structures offering a variety of solutions on their own independent blockchains. Many of these projects come and solve one problem really well but none of them will be able to solve EVERYTHING well enough to be useful. This slow realization has caused the demise of the age of Bitcoin maximalism. The idea of the single chain trust basis of the Internet is dead. The future is full of many chains existing, side by side, and the kings will be the ones that bring the many blockchains, living in isolation, together in interoperable harmony...

 

To continue reading, follow the link to the Medium story.

Here

Nicolas Ramsrud