The crypto industry is making progress in understanding the benefits of blockchain technology, but there are still obstacles to achieving interoperability between different blockchain networks. This article discusses 10 challenges and potential solutions for cross-chain interoperability.
Even crypto industry outsiders are gaining clarity on the benefits of blockchain technology, which is a significant step forward for the ecosystem. However, a challenge remains: The industry still struggles with interoperability between blockchain networks.
Unless different chains can safely and efficiently communicate and exchange data, the full power of blockchain — including true decentralization, new use cases, lower costs and, ultimately, further innovation — can’t be achieved. Here, 10 members of discuss some of the challenges still standing in the way of achieving cross-chain interoperability and how they can be overcome.A key challenge that our industry still faces in terms of cross-chain interoperability is the lack of standardized protocols and consensus. Development of interoperable protocols like cross-chain bridges and atomic swaps is one way to address this.
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