A Study on Interoperability in Blockchains: Challenges, Solutions and Future Directions
Author: Abhay Thakur, Karan Thakur and Ritik Thakur
Journal Name:
Download PDF
Abstract
For smooth communication and transactions between various blockchain networks, we are doing research on blockchain interoperability which is crucial for future enhancements. because of that blockchain technology has transformed various industries such as supply chain management and finance and its wider adoption hinders the various networks. We explore various issues and solutions surrounding blockchain interoperability, such as asset transfers and decentralised apps (Dapps) as well as cross-chain communication which is examined in this paper. Interoperability is discussed as crucial for improved scalability and security as well as decentralisation. It also identifies the technical obstacles like heterogeneous architectures and security threats as well as the lack of universal standards. Current solutions such as interoperability protocols (e.g., Polkadot, Cosmos, and Chainlink), atomic swaps, and cross-chain bridges. This study explores various blockchain interoperability mechanisms which including Layer 0 protocols (Polkadot, Cosmos), cross-chain bridges (Wormhole, Thorchain) and interoperability frameworks (IBC, XCMP) as well as smart contract-based solutions (Chainlink CCIP, Layer Zero). Additionally the security concerns such as cross-chain bridge
Keywords
Blockchain Interoperability, Cross-Chain Transactions, Atomic Swaps, Interoperability Protocols, Decentralized Applications, Smart Contracts
Conclusion
The Interoperability remains a critical and crucial challenge in achieving the Goal of seamless communication between the diverse systems(Blockchains). Advances in the standardized protocols. The AI-driven automation Model and blockchain technology have shown promise in enhancing integration and security as well as efficiency. However the existing solutions still face the problem of compatibility and scalability as well as the real-time data exchange issues. To overcome these various challenges , the future research should focus on developing a adaptive framework, which can optimize lightweight communication protocols and enhancing the security measures. By addressing these gaps, interoperability solutions can significantly improve the cross-platform collaboration, streamline data exchange, and drive the innovation in the interconnected systems
References
-
How to cite this article
-