The concept of Blockchain interoperability or cross-chain has always seemed farfetched. Still, unrelenting research may just produce impressive results – bringing the age wherein developers aren’t forced to pick a Blockchain to dedicate their efforts on closer than ever.
Just this week, several projects have announced their plans to release respective protocols focused on Blockchain interoperability. Neo, Switcheo, and Ontology have joined forces to launch Poly Network, which is advertised as a joint-protocol focused on cross-chain efforts. The NEAR project has also joined in with the fun, with its Rainbow Bridge. This initiative has successfully connected them with the industry giant, Ethereum.
Maksym Zavershynskyi, the engineer in charge of NEAR, clarified that this new protocol aims to make developers work that much easier. So long are the days wherein they are bounded to just one Blockchain, wherein their ideas and efforts may be obstructed. Although that may be their number one focus, Zavershynskyi admits that this project is also an excellent way for them to deliver their products on several chains at the same given time – giving them enhanced leverage over them.
The Poly Network, on the other hand, will create a seamless connection with the three firms mentioned earlier: Neo, Switcheo, and Ontology. This cross-chain partnership aims to alleviate the collaboration, scalability, and mainstream adoption issues the respective Blockchains experience individually. Furthermore, one of the core functions of Poly Network is the enabling of swapping cryptos for other digital assets. Notably, they have also noted that support for the Bitcoin Blockchain is within Poly Network’s horizons.
Collaboration makes things easier for everyone
Blockchains have always been operating alone without any option of any form of interaction with other networks. This system has made each network focus on themselves more but has also seemingly restricted them to reach their full potential. Developers are handcuffed to a single Blockchain, which consequently diminishes the impact of their ideas and products. That being said, now that the industry sees the real potential behind Blockchain interoperability, the future seems mighty bright.