Multi-chain Technology Is The Key To Enabling Mainstream Blockchain Adoption
Blockchain technology has tremendous potential to transform life as we know it. For that to happen, developers need to embrace a multi-chain future where networks can freely communicate with one another. A multi-chain world would unlock many benefits for users too.
Multi-Chain is The Way Forward
While there are many blockchain ecosystems on the market today, they do not solve industry efficiencies. More specifically, every blockchain creates a new siloed ecosystem that, although decentralized in nature, has no option for external communication. For example, the Bitcoin network can't talk to Ethereum, and Dogecoin's chain can't talk to Litecoin.
That may not seem like a big issue in the current crypto world but it halts blockchain adoption and development. More specifically, users and builders need to figure out which chain suits their needs best. However, for the user, that particular network may not provide access to the service, product, or project they need. One cannot access Uniwap on the Bitcoin blockchain, for instance. Many intermediary steps are involved in solving this lingering issue, which is far from ideal.
A multi-chain future would enable different networks to communicate without compromising decentralization. Doing so would allow a data flow from one blockchain to the next, enabling builders to develop more complex applications, products, and services. More importantly, it would streamline the user experience and make people worry less about "using the right chain."
Moreover, it would enable broader decentralization. Users from multiple networks would be able to contribute data, funds, and network nodes, among other things. In addition, there would be much more resources for builders to draw on, enabling a more efficient ecosystem where scalability concerns should eventually resolve themselves.
Building The Necessary Infrastructure
As blockchains are, by default, designed to only communicate internally, it may take a while to unlock a multi-chain future. Without the correct infrastructure, such a vision will not come to fruition. Thankfully, there are projects in development that will embrace a multi-chain nature and bring its benefits to developers and users.
One such solution is the Stacks network. Its purpose is to connect all major blockchains through the Orbit Bridge. The Bridge will enable 11 networks to achieve interconnectivity in its current form. Moreover, users will be able to bridge assets in and out of STX from Ethereum, Fantom, Orbit, HECo, Icon, BNB Chain, etc.
Stacks has a track record in building multi-chain solutions. The team put together the Satoshibles NFT bridge, enabling users to move their Satoshible NFTs between Ethereum and Stacks. Building a secondary solution to facilitate fungible token transfers introduces new opportunities for builders and users. Moreover, it spotlights Bitcoin DeFi and its possibilities, as Stacks is linked to Bitcoin and leverages its security and capital for decentralized applications and smart contracts.
Conclusion
There are many benefits to pursuing a multi-chain future for blockchain and cryptocurrency. Transaction data and value between different networks is an achievable goal, assuming builders can put together the necessary infrastructure. Projects like Stacks offer a glimpse of what that future may look like and how one can use them.
If blockchain is to gain mainstream adoption, multi-chain solutions need to take center stage. One shouldn't have to worry about using the "correct network", but rather benefit from the decentralized nature of applications, products, and services.
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