Blockchain Interoperability Set to Revolutionize the Future of Cryptocurrency
Summary:
Executives at Korea Blockchain Week predict a future of blockchain interoperability, with a decline in "chain tribalism" and an end to cross-chain bridge hacks. Several upcoming products, including Chainlink's Cross-Chain Interoperability Protocol (CCIP), are expected to revolutionize blockchain interoperability and eliminate the need for specific blockchain choices. The focus will shift to the ability of contracts to communicate across different chains.
Executives at Korea Blockchain Week predict a future of blockchain interoperability without "chain tribalism" and cross-chain bridge hacks. Several upcoming products aimed at blockchain interoperability are expected to replace current solutions which are seen as insecure and attractive to hackers. Vance Spencer, co-founder of Framework Ventures, believes that with the emergence of solutions like Chainlink's Cross-Chain Interoperability Protocol (CCIP), the choice of blockchain will become less important. The focus will shift towards whether contracts can communicate with each other across different chains. ZetaChain and MetaMask Snaps are other products that aim to provide interoperability and expand functionality across various blockchains.
Published At
9/11/2023 3:04:51 AM
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