Blockchain Interoperability Is Key to the Web 3.0 Tsunami
Since I entered the crypto space in early 2012, analysts and investors have been increasingly touting the future of the Blockchain as the next big investment space.?Up until last year though, there have been few, if any, major non-currency-related blockchain projects to really get excited about.?Then came 2021, where NFTs shot to the stratosphere, social tokens began to make their way onto the scene and various social blockchain projects sparked the start of the Web 3.0 craze.
We are finally realizing that the blockchain has the potential to be the underlying engine of the future internet, also referred to as Web 3.0.?The blockchain is immutable, decentralized and transforms data from an asset of corporations to a utility for anyone wishing to tap into it.?
The blockchain will also enable thousands, if not millions of websites to all communicate with one another, pull and push information to and from one another and liberate the very users who were once confined to the rules and terms of service of massive billion and trillion dollar corporations.??
Blockchain Interoperability
For blockchain technology to truly drive the Web 3.0 paradigm shift, we need to ensure that cross-chain interaction and interoperability is as simplistic as cross-cryptocurrency exchanges are.?
领英推荐
There will be a few blockchains or layer 2 projects which specialize in social identity, while others will specialize in NFTs, others in gaming and others in the metaverse.?There will be certain blockchains like Bitcoin, which will be viewed as the reserve currency for the internet, while some blockchains may specialize in on-chain encrypted messaging others in information documentation, and others in storage.?All of these blockchains will need to work in unison with one another so that we don't have a massively fragmented future to deal with.
It will be the bridges that are formed between blockchains that push forward the next frontier of the internet.?It will be the developers working on these bridges who will ultimately lead the way for the Web 3.0 shift we see over the next 5-10 years.?
Please Share this article if you find it helpful. Also please follow our Web 3.0 Daily YouTube Show here: https://www.youtube.com/channel/UCXkuORJfTz3WdoayJDHkXsg
Great piece Brian agreed interoperability is something that needs to be far higher up on the priority list for projects entering the space. Being in the NFT gaming space, it seems few and far between that we see projects that value interoperability, a huge misstep in my eyes. Hopefully, more projects take on board the value interoperability can bring.