Book Title: Intelligent Systems
Editors: Dr. S.C. Vettivel, Dr. Leema Nelson and Dr. D. Poornima
ISBN: 978-81-979197-4-9
Chapter: 4
DOI: https://doi.org/10.59646/isc4/259
Authors:
Munni Evin, Course Instructor-Computer Science, School of Engineering and Computing, American International University, Kuwait.
G P Karthika, Assistant Professor, Department of Electronics and Communication Engineering, St. Mother Theresa Engineering College, Vagaikulam, Thoothukudi District, Tamil Nadu, India.
Abstract
Blockchain interoperability and cross-chain communication are pivotal advancements in the evolving landscape of blockchain technology. Interoperability refers to the ability of disparate blockchain networks to exchange data, assets, and execute smart contracts seamlessly across platforms. This concept is crucial for addressing the fragmentation caused by the proliferation of various independent blockchain networks, which often operate in isolation, limiting their full potential. The significance of interoperability lies in its ability to enhance efficiency, increase adoption, and improve scalability across blockchain systems. It allows for the creation of a cohesive ecosystem where different blockchain networks can collaborate to achieve shared outcomes, thereby unlocking new possibilities for decentralized finance (DeFi), supply chain management, healthcare, and other sectors. However, the path to achieving blockchain interoperability is fraught with challenges, including technical complexities, security concerns, and regulatory barriers. This article explores the definition, importance, and mechanisms of blockchain interoperability, with a particular focus on cross-chain communication methods such as atomic swaps, relays, sidechains, and interoperability protocols like Polkadot and Cosmos.