What is Blockchain Interoperability?
Blockchain interoperability is a broad approach that allows blockchains to communicate and work more efficiently. Most blockchains are not built to be interoperable. No matter how many features the blockchain has, transactions are carried out in a network. At its simplest, interoperability is the freedom to exchange data. One issue that comes up when discussing interoperability is trust. If an asset leaves the network, it is hard to believe in its validity. Every blockchain has a consensus mechanism for verifying data. True interoperability requires the blockchain to be able to understand and process the authenticity of data from different chains. While it may seem obvious that blockchains should be designed to be interoperable, this rarely happens. However, as the benefits of interoperability become more apparent, blockchain apis are struggling to meet this challenge. This is not the first time interoperability challenges have threatened to stifle technology adoption. Today's World Wide Web would not be possible without a wide range of interoperability solutions. Without a variety of interoperability solutions, people would need hundreds of browsers to open websites and a large number of operating systems on a single device to use different applications. However, various innovations in interoperability have made the network accessible on a single device. The W3C Consortium is an important solution. Over the years, it has developed common standards that enable various ecosystems to interact and operate in a common language. The semantics created by W3C are essential to speaking a common language on the Internet. Because of these common standards, the possibilities of the Internet are endless. The Blockchain API will play a similar role in the mass adoption of blockchain technology. They will enable different ecosystems to communicate and share data, resulting in new use cases. As such, it will promote mass adoption.
The state of blockchain API technology
One of the main facts about blockchain today is that no single protocol will dominate. Instead, blockchain protocols must become interoperable. In the enterprise space, some leaders have emerged: Corda and Hyperledger Fabric. In the public blockchain space, however, things are more fragmented. In short, a blockchain network will not emerge that meets all the needs of the different use cases possible using the technology. Instead, the industry will include many networks, each serving a niche need. One possible outcome is that data from a private network is routed to other networks without one-to-one integration. Blockchain apis are crucial in this role. They need to move data across blockchains without creating new markets for intermediaries.
The role of blockchain apis in interoperability
Blockchain interoperability can be achieved by ensuring the smooth transfer of data between different chains. Transfers occur between apis and are designed to help systems communicate with each other. The Blockchain API is a mature tool that doesn't have any specialized blockchain programming knowledge to work with. The API is flexible and convenient. However, they require one-to-one integration between networks, which can be inefficient if not handled properly. In addition, they require some negotiation between platforms. One problem with implementing blockchain apis is that they don't require cross-platform checking. Thus, unverified data can be sent from one blockchain mechanism to another. One way to avoid this is to create data standards. These standards must be based on a common organizing principle to enable interoperability at scale. Once such standards are established, interoperability will accelerate.