Definition: - “Blockchain interoperability is the ability to communicate across various blockchain networks so that these blockchains can share and access data with each other across multiple networks.”
Need for Blockchain Interoperability?
New platforms and new frameworks of this blockchain technology are arising each year. They entail different ecosystems, hashing algorithms, consensus mechanisms, so they actually represent stand-alone, independent, disconnected and siloed blockchains. Interoperability among these heterogenous blockchains is very much required so that application running on one blockchain can easily communicate with the applications running on other blockchains. For example, an income tax application running on a separate blockchain may require land record details and identity verification information from applications running on other blockchain platforms and having this information on other separate individual blockchains. Another example can be, different health record blockchain systems may need to share the information of the patients. Such use cases bring out a strong need of Inter Blockchain Communication (IBC) requirement and hence the interoperability amongst heterogenous BCT applications.
Although the basic internal functioning of various blockchain platforms is similar like merkle root formation, block creation and transaction history recording etc still there is no reliable mechanism to guarantee transaction finality between two platforms and as a result of this, they work in silos.
This has triggered attempts to develop interoperability solutions that link existing blockchains together.
Cross-Chain Technology:-
In Layman’s terms, a Cross-chain Technology is an emerging technology that seeks to permit the transmission of data and assets between different blockchain networks. [1]
This means that these Blockchains connected with each other or have already established a connection with different blockchains can communicate with each other (Sharing of data or Tokens).
The limitation of blockchains to communicate with each other was one of the reasons that an individual could not take advantage of blockchain Interoperability. Thus, keeping in mind Interoperability between blockchains is enabled by cross chain technology making cross chain communication and sharing data easier.
Example:-
So to understand interoperability let's take one example, we all have used Facebook and there are some pages or individuals who post a video directly from YouTube. Here Facebook and YouTube are two different platforms, but when someone posts a video he copies the video’s URL and posts it on Facebook so the person who sees the post can also see the video or he can directly jump on that video by clicking on that URL. Facebook does not have any integrated modular part to display these videos, so these two platforms are interoperable. They can share the data or can communicate with each other.
Cross Blockchain Compatibility
The protocol ensures interoperability between multiple blockchains, thus enabling the exchange of data between multiple ecosystems. Public decentralized blockchains gives us the advantage for using such protocol for blockchain mass adoption.
Communication between multiple blockchains without third party assistance or intermediaries is allowed by Cross blockchain compatibility. This suggests that blockchains who shares similar network can share data and also be able to communicate each other.
“ As shown in the above image all these subChains are connected to form one unified network with the help of a central hub or relay chain so that all these subChians can share their data or communicate with each other. ”
Blockchain Interoperability Projects:-
Interoperability is the ability to share information across multiple blockchain networks. Many developers are finding different solutionsfor enhancing the connection between multiple blockchain networks.
Blockchain interoperability projects:-
Polkadot blockchain:-
Founded in 2017 by Gavin Wood, former Co-founder of Ethereum.
It is a blockchain protocol, which connects several specialized blockchains into one unified network. It behaves as an interoperable network.
HOW DOES IT WORK?
Polkadot Achieve interoperability through the Polkadot Relay chain, Parachains and Connectors also called Bridges.
Polkadot Relay chains are the Core layer of the network and act like a bookkeeper overlooking all the networks.
Parachains are the second layer. They are made up of individual blockchains. All these are connected in parallel hence called Parallel chains or Parachains.
Parachains allow multiple blockchains to run simultaneously to enable Scalability and increase transaction speed.
Bridges, Polkadot uses bridges to connect to already establish blockchains like Bitcoin, Ethereum by writing a break-in or break-out smart contract that will allow these chains to communicate with the Polkadot network.
Cosmos Blockchain:-
Cosmos is a decentralized network of independent parallel blockchains, each powered by Byzantine faultTolerance consensus algorithms.
In other words, Cosmos is an ecosystem of blockchains that will scale and interoperate with one another.
Cosmos is an ecosystem built on a group of modular, adaptable, and interchangeable tools. Developers are encouraged to hitch the trouble to enhance existing tools and make new ones to form the promise of blockchain technology a reality. These tools are the inspiration needed to make the decentralized internet and global economic system of tomorrow.
THE VISION OF COSMOS
The vision of Cosmos is to create a platform for developers to create blockchains and break the barriers between blockchains by allowing them to interact with one another.
Blocknet:-
Blocknet is a cross-chain peer-to-peer protocol that allows nodes on separate networks to communicate and execute both value and data transfer. The team developed their own blockchain with a native token called Block.
Blocknet is a Proof-of-Stake (PoS) blockchain with a utility token called BLOCK. Unlike other currency-focused blockchains, Blocknet may be a service-based blockchain comprised of three main components.
XRouter
XBridge
XCloud
The Blocknet Protocol is developed in such a way that it maximizes interoperability between different blockchains through the use of these components.
References :-
