Cross-chain interoperability is a problem worth solving in web3
Cross-chain interoperability is the transfer of data across blockchains.
There are many blockchains in web3. Transferring data between these blockchains is either a pain or impossible. It’s an opportunity for anyone looking to build in web3.
A blockchain for every use case
The blockchain trilemma requires users to choose between security, scalability and decentralisation.
My view is that users should be able to choose between these vectors for a specific use case. If you’re registering a property, you are willing to pay high transaction fees to optimise for security. If you’re buying ETH with USD, you are willing to trade security for lower transaction costs.
Decentralisation is limited to your protocol of choice.
Blockchains are decentralised within their own network, but not across networks. Ethereum and Solana are individually decentralised. But the ability to move data between the two provides more decentralisation. Users are not locked into either, and every protocol competes to be the best in the web3 world.
Partnership across protocols
I want a world where protocols support each other.
I’d like to see DAOs across protocols build bridges instead of burning them. We should have the ability for a DAO built on Ethereum to work in partnership with a DAO built on Solana. Blockchain interoperability unlocks this. It promotes the ability for the web3 world to work together rather than against each other.
Owning data and taking it with you is fundamental to web3. Let’s make this happen across chains and build a truly decentralised system.
This post was created with Typeshare