Is 2023 the year that real interoperability between chains really takes off?

Blockchains must become interoperable for the industry to truly thrive and several innovations will accelerate the ecosystem in this direction, executives say.< /p > Event Join us on social media

The future of blockchain will be interoperable — with the death of "on-chain tribalism," the proliferation of "hundreds of chains" and an end to cross-chain bridge hacks, according to Korea Blockchain Week executives.

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In support of these claims, several products scheduled for release before the end of the year could see blockchain interoperability efforts move away from current solutions that executives say have no makes no sense and constitutes a “honeypot” for hackers.

Vance Spencer, co-founder of Framework Ventures, a crypto-focused venture capital firm, told Cointelegraph at KBW that he believes that with many solutions on the horizon, including the Chainlink’s cross-chain interoperability (CCIP) no matter what happens soon. blockchain that a project uses.

He said most startups start with layer 2 solutions such as Optimism or Arbitrum, but quickly start wanting their own roll-up. “It’s like everyone is trying to create the standard,” he said.

In other words, interoperability protocols will gain more value than L2s themselves in the long term. Especially if there are many/too many L2s/channels. This investment demonstrates the probable fragmentation of contracts on too many channels and the value of their networking.

In a cross-chain interoperable future, the paradigm will shift and "it really won't matter which roll-up you're on," Spencer said.

“In the future, the question will probably be: “Can your contract communicate with my contract? » »

Spencer gave the example of CCIP which, he explained, allows a user to have assets on one chain and interact with contracts on another which uses cross-chain messages at instead of a blockchain bridge.

Brandon Truong, lead contributor at ZetaChain, said...