Web3 and digital asset interoperability

The capacity of various blockchain networks and protocols to easily connect and interact with one another is referred to as “digital asset interoperability”. In fact, interoperability is essential if we are to see blockchain technology being more widely utilised and hence allow digital assets to be transferred between various platforms without intermediaries. However, there are a number of challenges when it comes to digital asset interoperability:

·      collaboration protocols - several initiatives and standards aim to make blockchain networks more interoperable. Projects such as Polkadot, Cosmos, Aion offer foundations and instruments for various blockchains to interact with each other.

·      cross-chain communication - mechanisms for cross-chain communication are often included in interoperability solutions. This makes it possible to move assets and data safely and effectively between several blockchains. Some methods for cross-chain communication include atomic swaps, sidechains, …