At Korea Blockchain Week, industry executives laid out their reasons for why the many soon-to-launch cross-chain products are needed, with one saying the industry can’t be taken seriously without it.
The future of blockchain will be an interoperable one — with the death of “chain tribalism,” the proliferation of “hundreds of chains” along with an end to cross-chain bridge hacks, according to executives at Korea Blockchain Week.
Vance Spencer, the co-founder of the crypto-focused venture firm Framework Ventures told Cointelegraph at KBW that he thinks with many solutions on the horizon including Chainlink’sHe said most startups begin on layer-2 solutions such as Optimism or Arbitrum but soon begin to want their own roll-up. “It's like everyone's trying to create the standard,” he said.
ZetaChain core contributor Brandon Truong told Cointelegraph it operates in a similar way to CCIP — the main difference being it’s sent from ZetaChain’s network. which will allow developers to launch functionality-expanding apps for the crypto wallet — allowing use with other blockchains including Bitcoin, Solana, Avalanche and Starknet.Speaking on a panel at KBW, cross-chain protocol Axelar co-founder Georgios Vlachos believes, at some point, there will be “hundreds of chains” all processing “significant economic activity.”