Multichain: A Potential Future For Blockchain Systems

Allowing to interact with multiple platforms with bridges, parachains, and other features available for interoperability.

Since Ethereum became life, many people had the opportunity to interact with networks. But, the public nature of ethereum and ever-increasing gas fees has led to other platforms being introduced. However, there was a problem: these platforms couldn’t interact with each other. As a result, various solutions were implemented under multichain networks. Here are the details.

Polkadot: where it all started

When Polkadot’s white paper was published, they stated that Ethereum’s gas fees became too high and scalability was not possible in the network. So, a public network where it becomes possible to be activated on multiple networks. As a result, an application could be operated on multiple platforms resulting in various improvements.

Avalanche: taking it to a whole new level

When the Avalanche network published its white paper, they promised that bridges would be built between networks to improve interoperability. As a result, scalability could be improved, and there would be no need to create an application in the new network by itself. When interoperability has taken to a new level, Polkadot, Ethereum, Tron, and Avalanche could work in an interoperable manner without building the application in the other network.

What is the future for interoperability?

Since the start of various platforms, interoperability became important with the surge in Ethereum’s gas fees. As a result, many Ethereum-based applications had decided to operate on Polkadot, Avalanche, and Tron with bridges and various smart contracts to integrate into the network. This would benefit many DeFi platforms to operate more cheaply and further prevented liquidation on a massive scale.

What do you think about multi chains? Can multi chains be used on a larger scale? Share your thoughts in the comments section below.

Check out our new platform 👉 https://thecapital.io/

https://twitter.com/thecapital_io

https://medium.com/media/3b6b127891c5c8711ad105e61d6cc81f/href


Multichain: A Potential Future For Blockchain Systems was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.

Leave a Reply

Your email address will not be published.