In our internet world, all is a question of transferring, sharing, and consuming data. It’s the same for our blockchain ecosystem, whether for sending a transaction or showing a price of assets in real time, which is enabled by different types and ways to achieve this data.
In the event that different blockchains exist with their own logics and can’t communicate with each other. Create a communication system that enables the exchange and sharing of data, creating a bigger network effect of innovations. It’s like connecting two parts of a city, separated by a big river.
We call Interoperability the properties to communicate between different systems/blockchains.
The benefit of interoperability is that it opens and consolidates ecosystems.
That means a new synergy is linked between two systems: market size growth and the open competition between stakeholders. Now, which initiatives are taken by one ecosystem impact each other, and incentives are deployed to keep this communication stable and secure.
The security incentives of two systems that are interoperable are more important than those of two independent systems.
Transferring data can be associated with creating a way to join two points in a space.
For example, a bridge is a system that receives assets from chain A and mirrors them to chain B.
Transferring data can be associated with moving a copy of data from one chain to another without giving access to the original data.
For example, a bridge is a system that receives an asset from chain A and mirrors it to chain B without giving access to the asset on chain A.
However, sharing data grants access and enables multiple parties to consume the original data.
Consuming data refers to the ability to read and use the shared data in your own environment without the data being transferred to you. for example,
In other words, the Interoperability goal is to support the messaging communication of data available in a chain A to a chain B.
For users, it is an opportunity to customize their experience by choosing between several applications or clients.
Resources Used
A Survey on Blockchain Interoperability: Past, Present, and Future Trends