Solving the challenges of seamless interoperability between blockchains

One of the challenges when using different blockchains is that not all blockchains seamlessly connect and communicate with each other. Resultant from this has been the development of ‘cross-chain bridges’, a technology that enables two blockchains to share data without needing a third party. Once this happens, there is less control over the network and it is cheap to transact because users only have to pay gas fees to move assets - as opposed to having to remove assets from one blockchain and add them to another blockchain. The bridge technology makes the blockchain environment more interoperable, so improving communication and potentially helping to make blockchain-powered solutions more scalable.

There are over 1,000 blockchains in existence and each blockchain works with a different distributed ledger and has a different protocol. Therefore, whilst it is possible to buy BTC on the Bitcoin blockchain and ETH on the Ethereum blockchain, you cannot move BTC to ETH or ETH to BTC. Howeve…