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Kathleen Martin
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Blockchains are considered as a potentially revolutionary technology in a variety of fields, including supply chain tracking and healthcare, as well as the basic technology for cryptocurrencies such as Bitcoin (BTC), as reported by Cointelegraph. The huge interest in blockchain technology has spurred a slew of research and development activities.
As a result, the blockchain sector is highly fragmented, with clients having to select between numerous incompatible technology. However, functions such as sending tokens from one participant to another and executing smart contracts can only be performed within a single blockchain because interoperability across several blockchains is not normally expected in existing protocols and standards, Cointelegraph noted.
In the context of blockchains, interoperability refers to a blockchain’s ability to freely exchange data with other blockchains. On a given blockchain, for example, every item possessed and every transaction made are documented. With the correct interoperability solution, any economic activity that occurs on one blockchain may be represented on another. This means that the economic activity from one chain can extend to another, which is one of the primary features of blockchain interoperability solutions.
Continue reading: https://www.financialexpress.com/digital-currency/what-is-blockchain-interoperability/2630681/
As a result, the blockchain sector is highly fragmented, with clients having to select between numerous incompatible technology. However, functions such as sending tokens from one participant to another and executing smart contracts can only be performed within a single blockchain because interoperability across several blockchains is not normally expected in existing protocols and standards, Cointelegraph noted.
In the context of blockchains, interoperability refers to a blockchain’s ability to freely exchange data with other blockchains. On a given blockchain, for example, every item possessed and every transaction made are documented. With the correct interoperability solution, any economic activity that occurs on one blockchain may be represented on another. This means that the economic activity from one chain can extend to another, which is one of the primary features of blockchain interoperability solutions.
Continue reading: https://www.financialexpress.com/digital-currency/what-is-blockchain-interoperability/2630681/
