SlideShare a Scribd company logo
1 of 6
Download to read offline
Building Bridges: How Interoperability is
Connecting Blockchain Networks
January 19, 2023
"Blockchain Interoperability: Making the Impossible
Possible"
Interoperability in blockchain networks refers to the ability of different blockchain systems
to communicate and interact. This enables the transfer of data and assets and the
execution of transactions across other platforms. Interoperability is achieved through
mechanisms such as atomic swaps, hash time-locked contracts, cross-chain
communication protocols, middleware or "bridges" that connect different blockchains, and
Interoperability Platforms. These mechanisms allow various blockchain networks to share
data and assets and execute transactions across other platforms, opening up new
possibilities for creating decentralized applications and services and facilitating the growth
of the blockchain ecosystem. Interoperability in blockchain can be achieved by various
methods, such as:
Atomic Swaps: Atomic swaps are a type of smart contract technology that allows for
exchanging cryptocurrency for another without the need for a centralized intermediary, such
as a cryptocurrency exchange. This is achieved by creating a smart contract that locks up
both currencies in a "time-locked" escrow until the exchange is completed. The funds are
automatically returned to their original owners if the exchange is not completed within a
certain period. Atomic swaps can be done between different blockchain networks, which
enables interoperability between them.
Hashed TimeLock Contracts (HTLCs): Hashed TimeLock Contracts (HTLCs) is a type of
smart contract that allows for the secure transfer of assets between different blockchains.
It uses a hash function and a time lock mechanism to ensure that the assets are transferred
securely and only to the intended recipient. In HTLC, the sender creates a transaction that
includes a hash of the recipient's address and a time lock. The recipient must provide the
correct preimage of the soup within the time lock to claim the assets. The assets are
returned to the sender if the recipient does not give the correct preimage. Using a hash
function and a time lock ensures that only the intended recipient can claim the assets and
that the assets are returned to the sender if the transfer is not completed within the time
lock. HTLCs can be used to facilitate cross-chain atomic swaps and also to enable trustless
payment channels. It's commonly used in layer-2 solutions such as the Lightning Network.
Cross-Chain Communication Protocols: Cross-chain communication protocols are designed
to facilitate the communication and transfer of assets between different blockchain
networks. They enable interoperability by allowing other blockchains to communicate and
interact.
One example of a cross-chain communication protocol is the Polkadot and Cosmos. They
allow different blockchains to connect to their network as "parachains" or "zones" and
communicate with one another through a central hub chain. These protocols use proxy
tokens or relays to represent assets on one blockchain, allowing them to be transferred to
and used on another blockchain. This enables the sharing of data and assets and the
execution of transactions across different platforms.
Another example is the Interoperability Platforms like Aion, Wanchain, and Ark, they allow
assets to be transferred between different blockchains through the use of a "bridge" or
"middleware" that connects the various networks. These protocols help to solve the
problem of interoperability and enable the creation of a multi-chain ecosystem where
different blockchains can work together seamlessly.
Blockchain Relays: Blockchain relays are a mechanism that allows for the transfer of assets
and information between different blockchains through the use of a central intermediary. A
relay is a system or protocol that connects two or more different blockchain networks and
facilitates the transfer of information and assets between them.
One example of a blockchain relay is the "sidechain," a separate blockchain connected to a
"mainchain" through a two-way peg. The sidechain allows for the transfer of assets from
the mainchain to the sidechain and vice versa. The mainchain acts as a central
intermediary, enabling the transfer of assets between the two chains.
Another example is the "intermediate chain," which is a separate blockchain that connects
multiple other blockchains and facilitates the transfer of assets and information between
them. It acts as a central intermediary by creating a bridge between different blockchain
networks, allowing them to communicate and interact with one another.
These relays facilitate interoperability between different blockchain networks and allow
them to work together seamlessly.
Interchain Protocols (ICPs): ICPs are built on top of the existing blockchain networks; they
are not dependent on a central intermediary but are built on the existing infrastructure of
the blockchain networks.
One example of an ICP is the Interledger Protocol (ILP), which facilitates the transfer of
assets between different ledgers by breaking down large transactions into smaller packets
and routing them through a network of connectors. The ILP does not rely on a central
intermediary, and it is open-source. It allows for interoperability between different ledgers,
regardless of their underlying technology.
Another example is the Cosmos SDK and Tendermint Core, which facilitate the creation of
independent blockchains that can interact with each other. They also provide a set of
modules and libraries to facilitate the development of decentralized applications that can
interact with multiple blockchains.
ICPs allow for the communication and transfer of assets between different blockchain
networks without needing a central intermediary. This way, they enable interoperability and
create new possibilities for the development of decentralized applications and services.
Ultimately, the method used will depend on the specific use case and the type of blockchain
systems that need to interact with each other.
.........................................................................................................................................................
..........
Meet Jessica, an experienced blockchain
consultant with a passion for helping businesses unlock the full potential of blockchain
technology. With 10+ years of experience in the industry, Jessica has a proven track record
of developing and implementing successful blockchain solutions for a wide range of
clients. Jessica specializes in specific areas of expertise, such as smart contract
development, enterprise blockchain, public vs private blockchain, etc. and has a deep
understanding of the latest trends and developments in the field. Jessica is dedicated to
helping businesses improve efficiency, security, and transparency through the strategic use
of blockchain technology. When not consulting, Jessica enjoys sharing knowledge about
blockchain technology and its potential through speaking engagements and writing articles
on the topic. Connect with Jessica on LinkedIn to learn more about how blockchain
consulting can benefit your business. Hire Blockchain Developers .
Blockchain solutions Distributed ledger technology (DLT) Smart contracts Decentralized
finance (DeFi) Public vs private blockchain Enterprise blockchain Blockchain-based supply
chain management
Location: San Jose, CA, USA

More Related Content

Similar to Interoperability in Blockchain

Blockchain-SSM.pptx
Blockchain-SSM.pptxBlockchain-SSM.pptx
Blockchain-SSM.pptxAditya786867
 
Blockchain Security and Demonstration
Blockchain Security and DemonstrationBlockchain Security and Demonstration
Blockchain Security and DemonstrationYao Yao
 
Blockchain tutorial
Blockchain tutorial Blockchain tutorial
Blockchain tutorial Rohit Verma
 
BLOCK CHAIN technology for the students.
BLOCK CHAIN technology for the students.BLOCK CHAIN technology for the students.
BLOCK CHAIN technology for the students.Rajasekhar364622
 
Blockchain Facts_What Is It, How IT Works and How Can It Be Used.pdf
Blockchain Facts_What Is It, How IT Works and How Can It Be Used.pdfBlockchain Facts_What Is It, How IT Works and How Can It Be Used.pdf
Blockchain Facts_What Is It, How IT Works and How Can It Be Used.pdfHarry977415
 
chapter 4 Selected Topics in computer.pptx
chapter 4 Selected Topics in computer.pptxchapter 4 Selected Topics in computer.pptx
chapter 4 Selected Topics in computer.pptxAschalewAyele2
 
chapter 4 Selected Topics in computer.pptx
chapter 4 Selected Topics in computer.pptxchapter 4 Selected Topics in computer.pptx
chapter 4 Selected Topics in computer.pptxAschalewAyele2
 
Blockchain Glossary.docx
Blockchain Glossary.docxBlockchain Glossary.docx
Blockchain Glossary.docxCosVM
 
pulse chain bridge pulse chain bridge.pdf
pulse chain bridge pulse chain bridge.pdfpulse chain bridge pulse chain bridge.pdf
pulse chain bridge pulse chain bridge.pdfRalf Reinhardt
 
Blockchain&Crypto.pptx
Blockchain&Crypto.pptxBlockchain&Crypto.pptx
Blockchain&Crypto.pptxRafayNaveed4
 
What is blockchain for beginners.docx
What is blockchain for beginners.docxWhat is blockchain for beginners.docx
What is blockchain for beginners.docxCosVM
 
Unlocking the Potential of Cross-Chain Bridging_ A Deep Dive.docx
Unlocking the Potential of Cross-Chain Bridging_ A Deep Dive.docxUnlocking the Potential of Cross-Chain Bridging_ A Deep Dive.docx
Unlocking the Potential of Cross-Chain Bridging_ A Deep Dive.docxAnalog3
 
Blockchain Tech Advancement 2024
Blockchain Tech Advancement 2024Blockchain Tech Advancement 2024
Blockchain Tech Advancement 2024Liveplex
 
Blockchain and its Scope in Retail
Blockchain and its Scope in RetailBlockchain and its Scope in Retail
Blockchain and its Scope in RetailIRJET Journal
 
BlockchainRevolutioninBankingIndustry.pdf
BlockchainRevolutioninBankingIndustry.pdfBlockchainRevolutioninBankingIndustry.pdf
BlockchainRevolutioninBankingIndustry.pdfLiberalAstu
 

Similar to Interoperability in Blockchain (20)

Blockchain-SSM.pptx
Blockchain-SSM.pptxBlockchain-SSM.pptx
Blockchain-SSM.pptx
 
Blockchain Security and Demonstration
Blockchain Security and DemonstrationBlockchain Security and Demonstration
Blockchain Security and Demonstration
 
Blockchain tutorial
Blockchain tutorial Blockchain tutorial
Blockchain tutorial
 
Emily rutland blockchain
Emily rutland blockchainEmily rutland blockchain
Emily rutland blockchain
 
BLOCK CHAIN technology for the students.
BLOCK CHAIN technology for the students.BLOCK CHAIN technology for the students.
BLOCK CHAIN technology for the students.
 
Blockchain Facts_What Is It, How IT Works and How Can It Be Used.pdf
Blockchain Facts_What Is It, How IT Works and How Can It Be Used.pdfBlockchain Facts_What Is It, How IT Works and How Can It Be Used.pdf
Blockchain Facts_What Is It, How IT Works and How Can It Be Used.pdf
 
chapter 4 Selected Topics in computer.pptx
chapter 4 Selected Topics in computer.pptxchapter 4 Selected Topics in computer.pptx
chapter 4 Selected Topics in computer.pptx
 
chapter 4 Selected Topics in computer.pptx
chapter 4 Selected Topics in computer.pptxchapter 4 Selected Topics in computer.pptx
chapter 4 Selected Topics in computer.pptx
 
Blockchain Glossary.docx
Blockchain Glossary.docxBlockchain Glossary.docx
Blockchain Glossary.docx
 
pulse chain bridge pulse chain bridge.pdf
pulse chain bridge pulse chain bridge.pdfpulse chain bridge pulse chain bridge.pdf
pulse chain bridge pulse chain bridge.pdf
 
The Future Is Blockchain Era
The Future Is Blockchain EraThe Future Is Blockchain Era
The Future Is Blockchain Era
 
Blockchain&Crypto.pptx
Blockchain&Crypto.pptxBlockchain&Crypto.pptx
Blockchain&Crypto.pptx
 
blockchain.pdf
blockchain.pdfblockchain.pdf
blockchain.pdf
 
Blockchain ppt
Blockchain pptBlockchain ppt
Blockchain ppt
 
What is blockchain for beginners.docx
What is blockchain for beginners.docxWhat is blockchain for beginners.docx
What is blockchain for beginners.docx
 
Unlocking the Potential of Cross-Chain Bridging_ A Deep Dive.docx
Unlocking the Potential of Cross-Chain Bridging_ A Deep Dive.docxUnlocking the Potential of Cross-Chain Bridging_ A Deep Dive.docx
Unlocking the Potential of Cross-Chain Bridging_ A Deep Dive.docx
 
Blockchain Tech Advancement 2024
Blockchain Tech Advancement 2024Blockchain Tech Advancement 2024
Blockchain Tech Advancement 2024
 
Blockchain and its Scope in Retail
Blockchain and its Scope in RetailBlockchain and its Scope in Retail
Blockchain and its Scope in Retail
 
Blockchain.pptx
Blockchain.pptxBlockchain.pptx
Blockchain.pptx
 
BlockchainRevolutioninBankingIndustry.pdf
BlockchainRevolutioninBankingIndustry.pdfBlockchainRevolutioninBankingIndustry.pdf
BlockchainRevolutioninBankingIndustry.pdf
 

Recently uploaded

Continuing Bonds Through AI: A Hermeneutic Reflection on Thanabots
Continuing Bonds Through AI: A Hermeneutic Reflection on ThanabotsContinuing Bonds Through AI: A Hermeneutic Reflection on Thanabots
Continuing Bonds Through AI: A Hermeneutic Reflection on ThanabotsLeah Henrickson
 
Oauth 2.0 Introduction and Flows with MuleSoft
Oauth 2.0 Introduction and Flows with MuleSoftOauth 2.0 Introduction and Flows with MuleSoft
Oauth 2.0 Introduction and Flows with MuleSoftshyamraj55
 
How we scaled to 80K users by doing nothing!.pdf
How we scaled to 80K users by doing nothing!.pdfHow we scaled to 80K users by doing nothing!.pdf
How we scaled to 80K users by doing nothing!.pdfSrushith Repakula
 
The Zero-ETL Approach: Enhancing Data Agility and Insight
The Zero-ETL Approach: Enhancing Data Agility and InsightThe Zero-ETL Approach: Enhancing Data Agility and Insight
The Zero-ETL Approach: Enhancing Data Agility and InsightSafe Software
 
How to Check GPS Location with a Live Tracker in Pakistan
How to Check GPS Location with a Live Tracker in PakistanHow to Check GPS Location with a Live Tracker in Pakistan
How to Check GPS Location with a Live Tracker in Pakistandanishmna97
 
ChatGPT and Beyond - Elevating DevOps Productivity
ChatGPT and Beyond - Elevating DevOps ProductivityChatGPT and Beyond - Elevating DevOps Productivity
ChatGPT and Beyond - Elevating DevOps ProductivityVictorSzoltysek
 
UiPath manufacturing technology benefits and AI overview
UiPath manufacturing technology benefits and AI overviewUiPath manufacturing technology benefits and AI overview
UiPath manufacturing technology benefits and AI overviewDianaGray10
 
Design Guidelines for Passkeys 2024.pptx
Design Guidelines for Passkeys 2024.pptxDesign Guidelines for Passkeys 2024.pptx
Design Guidelines for Passkeys 2024.pptxFIDO Alliance
 
Harnessing Passkeys in the Battle Against AI-Powered Cyber Threats.pptx
Harnessing Passkeys in the Battle Against AI-Powered Cyber Threats.pptxHarnessing Passkeys in the Battle Against AI-Powered Cyber Threats.pptx
Harnessing Passkeys in the Battle Against AI-Powered Cyber Threats.pptxFIDO Alliance
 
Hyatt driving innovation and exceptional customer experiences with FIDO passw...
Hyatt driving innovation and exceptional customer experiences with FIDO passw...Hyatt driving innovation and exceptional customer experiences with FIDO passw...
Hyatt driving innovation and exceptional customer experiences with FIDO passw...FIDO Alliance
 
Introduction to FIDO Authentication and Passkeys.pptx
Introduction to FIDO Authentication and Passkeys.pptxIntroduction to FIDO Authentication and Passkeys.pptx
Introduction to FIDO Authentication and Passkeys.pptxFIDO Alliance
 
WebAssembly is Key to Better LLM Performance
WebAssembly is Key to Better LLM PerformanceWebAssembly is Key to Better LLM Performance
WebAssembly is Key to Better LLM PerformanceSamy Fodil
 
TrustArc Webinar - Unified Trust Center for Privacy, Security, Compliance, an...
TrustArc Webinar - Unified Trust Center for Privacy, Security, Compliance, an...TrustArc Webinar - Unified Trust Center for Privacy, Security, Compliance, an...
TrustArc Webinar - Unified Trust Center for Privacy, Security, Compliance, an...TrustArc
 
Easier, Faster, and More Powerful – Alles Neu macht der Mai -Wir durchleuchte...
Easier, Faster, and More Powerful – Alles Neu macht der Mai -Wir durchleuchte...Easier, Faster, and More Powerful – Alles Neu macht der Mai -Wir durchleuchte...
Easier, Faster, and More Powerful – Alles Neu macht der Mai -Wir durchleuchte...panagenda
 
State of the Smart Building Startup Landscape 2024!
State of the Smart Building Startup Landscape 2024!State of the Smart Building Startup Landscape 2024!
State of the Smart Building Startup Landscape 2024!Memoori
 
Introduction to use of FHIR Documents in ABDM
Introduction to use of FHIR Documents in ABDMIntroduction to use of FHIR Documents in ABDM
Introduction to use of FHIR Documents in ABDMKumar Satyam
 
“Iamnobody89757” Understanding the Mysterious of Digital Identity.pdf
“Iamnobody89757” Understanding the Mysterious of Digital Identity.pdf“Iamnobody89757” Understanding the Mysterious of Digital Identity.pdf
“Iamnobody89757” Understanding the Mysterious of Digital Identity.pdfMuhammad Subhan
 
Cyber Insurance - RalphGilot - Embry-Riddle Aeronautical University.pptx
Cyber Insurance - RalphGilot - Embry-Riddle Aeronautical University.pptxCyber Insurance - RalphGilot - Embry-Riddle Aeronautical University.pptx
Cyber Insurance - RalphGilot - Embry-Riddle Aeronautical University.pptxMasterG
 
Working together SRE & Platform Engineering
Working together SRE & Platform EngineeringWorking together SRE & Platform Engineering
Working together SRE & Platform EngineeringMarcus Vechiato
 
TEST BANK For, Information Technology Project Management 9th Edition Kathy Sc...
TEST BANK For, Information Technology Project Management 9th Edition Kathy Sc...TEST BANK For, Information Technology Project Management 9th Edition Kathy Sc...
TEST BANK For, Information Technology Project Management 9th Edition Kathy Sc...marcuskenyatta275
 

Recently uploaded (20)

Continuing Bonds Through AI: A Hermeneutic Reflection on Thanabots
Continuing Bonds Through AI: A Hermeneutic Reflection on ThanabotsContinuing Bonds Through AI: A Hermeneutic Reflection on Thanabots
Continuing Bonds Through AI: A Hermeneutic Reflection on Thanabots
 
Oauth 2.0 Introduction and Flows with MuleSoft
Oauth 2.0 Introduction and Flows with MuleSoftOauth 2.0 Introduction and Flows with MuleSoft
Oauth 2.0 Introduction and Flows with MuleSoft
 
How we scaled to 80K users by doing nothing!.pdf
How we scaled to 80K users by doing nothing!.pdfHow we scaled to 80K users by doing nothing!.pdf
How we scaled to 80K users by doing nothing!.pdf
 
The Zero-ETL Approach: Enhancing Data Agility and Insight
The Zero-ETL Approach: Enhancing Data Agility and InsightThe Zero-ETL Approach: Enhancing Data Agility and Insight
The Zero-ETL Approach: Enhancing Data Agility and Insight
 
How to Check GPS Location with a Live Tracker in Pakistan
How to Check GPS Location with a Live Tracker in PakistanHow to Check GPS Location with a Live Tracker in Pakistan
How to Check GPS Location with a Live Tracker in Pakistan
 
ChatGPT and Beyond - Elevating DevOps Productivity
ChatGPT and Beyond - Elevating DevOps ProductivityChatGPT and Beyond - Elevating DevOps Productivity
ChatGPT and Beyond - Elevating DevOps Productivity
 
UiPath manufacturing technology benefits and AI overview
UiPath manufacturing technology benefits and AI overviewUiPath manufacturing technology benefits and AI overview
UiPath manufacturing technology benefits and AI overview
 
Design Guidelines for Passkeys 2024.pptx
Design Guidelines for Passkeys 2024.pptxDesign Guidelines for Passkeys 2024.pptx
Design Guidelines for Passkeys 2024.pptx
 
Harnessing Passkeys in the Battle Against AI-Powered Cyber Threats.pptx
Harnessing Passkeys in the Battle Against AI-Powered Cyber Threats.pptxHarnessing Passkeys in the Battle Against AI-Powered Cyber Threats.pptx
Harnessing Passkeys in the Battle Against AI-Powered Cyber Threats.pptx
 
Hyatt driving innovation and exceptional customer experiences with FIDO passw...
Hyatt driving innovation and exceptional customer experiences with FIDO passw...Hyatt driving innovation and exceptional customer experiences with FIDO passw...
Hyatt driving innovation and exceptional customer experiences with FIDO passw...
 
Introduction to FIDO Authentication and Passkeys.pptx
Introduction to FIDO Authentication and Passkeys.pptxIntroduction to FIDO Authentication and Passkeys.pptx
Introduction to FIDO Authentication and Passkeys.pptx
 
WebAssembly is Key to Better LLM Performance
WebAssembly is Key to Better LLM PerformanceWebAssembly is Key to Better LLM Performance
WebAssembly is Key to Better LLM Performance
 
TrustArc Webinar - Unified Trust Center for Privacy, Security, Compliance, an...
TrustArc Webinar - Unified Trust Center for Privacy, Security, Compliance, an...TrustArc Webinar - Unified Trust Center for Privacy, Security, Compliance, an...
TrustArc Webinar - Unified Trust Center for Privacy, Security, Compliance, an...
 
Easier, Faster, and More Powerful – Alles Neu macht der Mai -Wir durchleuchte...
Easier, Faster, and More Powerful – Alles Neu macht der Mai -Wir durchleuchte...Easier, Faster, and More Powerful – Alles Neu macht der Mai -Wir durchleuchte...
Easier, Faster, and More Powerful – Alles Neu macht der Mai -Wir durchleuchte...
 
State of the Smart Building Startup Landscape 2024!
State of the Smart Building Startup Landscape 2024!State of the Smart Building Startup Landscape 2024!
State of the Smart Building Startup Landscape 2024!
 
Introduction to use of FHIR Documents in ABDM
Introduction to use of FHIR Documents in ABDMIntroduction to use of FHIR Documents in ABDM
Introduction to use of FHIR Documents in ABDM
 
“Iamnobody89757” Understanding the Mysterious of Digital Identity.pdf
“Iamnobody89757” Understanding the Mysterious of Digital Identity.pdf“Iamnobody89757” Understanding the Mysterious of Digital Identity.pdf
“Iamnobody89757” Understanding the Mysterious of Digital Identity.pdf
 
Cyber Insurance - RalphGilot - Embry-Riddle Aeronautical University.pptx
Cyber Insurance - RalphGilot - Embry-Riddle Aeronautical University.pptxCyber Insurance - RalphGilot - Embry-Riddle Aeronautical University.pptx
Cyber Insurance - RalphGilot - Embry-Riddle Aeronautical University.pptx
 
Working together SRE & Platform Engineering
Working together SRE & Platform EngineeringWorking together SRE & Platform Engineering
Working together SRE & Platform Engineering
 
TEST BANK For, Information Technology Project Management 9th Edition Kathy Sc...
TEST BANK For, Information Technology Project Management 9th Edition Kathy Sc...TEST BANK For, Information Technology Project Management 9th Edition Kathy Sc...
TEST BANK For, Information Technology Project Management 9th Edition Kathy Sc...
 

Interoperability in Blockchain

  • 1. Building Bridges: How Interoperability is Connecting Blockchain Networks January 19, 2023 "Blockchain Interoperability: Making the Impossible Possible" Interoperability in blockchain networks refers to the ability of different blockchain systems to communicate and interact. This enables the transfer of data and assets and the execution of transactions across other platforms. Interoperability is achieved through mechanisms such as atomic swaps, hash time-locked contracts, cross-chain communication protocols, middleware or "bridges" that connect different blockchains, and Interoperability Platforms. These mechanisms allow various blockchain networks to share data and assets and execute transactions across other platforms, opening up new possibilities for creating decentralized applications and services and facilitating the growth of the blockchain ecosystem. Interoperability in blockchain can be achieved by various methods, such as:
  • 2. Atomic Swaps: Atomic swaps are a type of smart contract technology that allows for exchanging cryptocurrency for another without the need for a centralized intermediary, such as a cryptocurrency exchange. This is achieved by creating a smart contract that locks up both currencies in a "time-locked" escrow until the exchange is completed. The funds are automatically returned to their original owners if the exchange is not completed within a certain period. Atomic swaps can be done between different blockchain networks, which enables interoperability between them. Hashed TimeLock Contracts (HTLCs): Hashed TimeLock Contracts (HTLCs) is a type of smart contract that allows for the secure transfer of assets between different blockchains. It uses a hash function and a time lock mechanism to ensure that the assets are transferred securely and only to the intended recipient. In HTLC, the sender creates a transaction that includes a hash of the recipient's address and a time lock. The recipient must provide the correct preimage of the soup within the time lock to claim the assets. The assets are returned to the sender if the recipient does not give the correct preimage. Using a hash function and a time lock ensures that only the intended recipient can claim the assets and that the assets are returned to the sender if the transfer is not completed within the time lock. HTLCs can be used to facilitate cross-chain atomic swaps and also to enable trustless payment channels. It's commonly used in layer-2 solutions such as the Lightning Network. Cross-Chain Communication Protocols: Cross-chain communication protocols are designed to facilitate the communication and transfer of assets between different blockchain networks. They enable interoperability by allowing other blockchains to communicate and
  • 3. interact. One example of a cross-chain communication protocol is the Polkadot and Cosmos. They allow different blockchains to connect to their network as "parachains" or "zones" and communicate with one another through a central hub chain. These protocols use proxy tokens or relays to represent assets on one blockchain, allowing them to be transferred to and used on another blockchain. This enables the sharing of data and assets and the execution of transactions across different platforms. Another example is the Interoperability Platforms like Aion, Wanchain, and Ark, they allow assets to be transferred between different blockchains through the use of a "bridge" or "middleware" that connects the various networks. These protocols help to solve the problem of interoperability and enable the creation of a multi-chain ecosystem where different blockchains can work together seamlessly. Blockchain Relays: Blockchain relays are a mechanism that allows for the transfer of assets and information between different blockchains through the use of a central intermediary. A relay is a system or protocol that connects two or more different blockchain networks and facilitates the transfer of information and assets between them. One example of a blockchain relay is the "sidechain," a separate blockchain connected to a "mainchain" through a two-way peg. The sidechain allows for the transfer of assets from the mainchain to the sidechain and vice versa. The mainchain acts as a central intermediary, enabling the transfer of assets between the two chains. Another example is the "intermediate chain," which is a separate blockchain that connects
  • 4. multiple other blockchains and facilitates the transfer of assets and information between them. It acts as a central intermediary by creating a bridge between different blockchain networks, allowing them to communicate and interact with one another. These relays facilitate interoperability between different blockchain networks and allow them to work together seamlessly. Interchain Protocols (ICPs): ICPs are built on top of the existing blockchain networks; they are not dependent on a central intermediary but are built on the existing infrastructure of the blockchain networks. One example of an ICP is the Interledger Protocol (ILP), which facilitates the transfer of assets between different ledgers by breaking down large transactions into smaller packets and routing them through a network of connectors. The ILP does not rely on a central intermediary, and it is open-source. It allows for interoperability between different ledgers, regardless of their underlying technology. Another example is the Cosmos SDK and Tendermint Core, which facilitate the creation of independent blockchains that can interact with each other. They also provide a set of
  • 5. modules and libraries to facilitate the development of decentralized applications that can interact with multiple blockchains. ICPs allow for the communication and transfer of assets between different blockchain networks without needing a central intermediary. This way, they enable interoperability and create new possibilities for the development of decentralized applications and services. Ultimately, the method used will depend on the specific use case and the type of blockchain systems that need to interact with each other. ......................................................................................................................................................... ..........
  • 6. Meet Jessica, an experienced blockchain consultant with a passion for helping businesses unlock the full potential of blockchain technology. With 10+ years of experience in the industry, Jessica has a proven track record of developing and implementing successful blockchain solutions for a wide range of clients. Jessica specializes in specific areas of expertise, such as smart contract development, enterprise blockchain, public vs private blockchain, etc. and has a deep understanding of the latest trends and developments in the field. Jessica is dedicated to helping businesses improve efficiency, security, and transparency through the strategic use of blockchain technology. When not consulting, Jessica enjoys sharing knowledge about blockchain technology and its potential through speaking engagements and writing articles on the topic. Connect with Jessica on LinkedIn to learn more about how blockchain consulting can benefit your business. Hire Blockchain Developers . Blockchain solutions Distributed ledger technology (DLT) Smart contracts Decentralized finance (DeFi) Public vs private blockchain Enterprise blockchain Blockchain-based supply chain management Location: San Jose, CA, USA