What is Interoperability defined?
The ability of computer systems or software to exchange and make use of information.
What is Blockchain Interoperability?
The process of operations between two or more blockchains. Interoperability enables blockchain to share and access their data and interoperate with one another. The ability through which blockchains share and communicate with each other is called blockchain interoperability.
Why is this important?
Many blockchain projects want to implement interoperability to make their process easier and more transparent. Each blockchain stores different kinds of data and transactions. Interoperability enables blockchain to share and access their data and interoperate with one.
What is Cross-Chain Architecture?
This facilitates interoperability, enabling two or more blockchains to trade-off their efficiencies, decentralization, features set, and security. This can improve chain efficiency, reduce fragmentation, allow users and features to flow more freely across multiple blockchains.
What is Cross Chain Collaboration?
Blockchain technology has a wide range of industry-specific use cases, but ultimately the primary benefits come down to data transparency and verifiability, smart contract execution, and decentralized consensus. Once blockchains used by different organizations and industries are able to interact with one another, independent markets and business applications that were previously considered entirely separate will be able to more easily transfer data and value. This means organizations and communities that wouldn’t typically interact with one another would be able to exchange information, leverage each other’s strengths, and cultivate innovation more effortlessly and effectively.
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