The Future of Interoperability
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The blockchain space is expanding and its expanding very rapidly. The blockchain space is scattered right now with many isolated chains that are operating on their own. It's like a world of itself.
If an NFT is created on one blockhain and the other on another, it's hard to swap the two NFTs, as because they are based on different protocols.
It's more like installing an Android app on an iPhone.
Take for example Ethereum, its developers didn't think of the idea of having Ethereum blockchain connecting to other blockchains and this is a major hurdle.
And the same goes for Bitcoin blockchain, when its mysterious creator created it and couldn't have the idea of how things will unfold in future. He didn't have an idea that other blockchains could be used for more than just crypto.
But now, this is slow changing and many chains including Bitcoin and Ethereum are redefined in order to allow interoperability.
The Future of Interoperability
Blockchains and DeFi spheres are now realizing that they can gain more by gaining interoperability rather than staying separated.
Blockchains can benefit from interoperability.
It would be safe to assume that the new projects build with blockchain will have interoperability in mind while creating it. And some projects already are focusing full time on solving the issue of interoperability.
Interoperability and Web3
Web3 has been a major buzzword lately which refers to the new version of the internet and is entirely focused on decentralization.
And to achieve this, all the sides need to cooperate and start making blockchains interoperable.
The blockchains are slightly opening up to this idea, but this will take some time before its fully utilized. A network of decentralized networks is needed to lay this foundation.
There is a lot of work to be done to make Web3 a reality.
But it's now not a myth. We have many chains now which are interoperable with many other chains making it easy for the users to make cross chain transactions.
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It does take time for any good thing to materialize. It's the same for Web3 and Blockchain as a whole. But as long as we take one step at a time, daily, then, we will get there. Interoperability will be a thing on the chain, one day.
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Hopefully.
Let's see how it goes :)
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Which project do you like the most that brings interoperability?