Interoperability

Interoperability can be defined as a product’s ability to interact with different systems. A familiar example would be email i.e. someone with a Gmail account can seamlessly send and receive emails to someone with a Yahoo account. With regards to web3, interoperability refers to blockchains’ ability to see and transfer information between one another; however, we still have a long way to go for this to become a seamless operation. Currently, certain wallets aren’t compatible with certain blockchains and currencies cannot be transferred from one blockchain to another without the cumbersome and risky processes that bridging can pose.

We can currently think of blockchains as islands with their own currencies and assets that are naturally siloed from one another. As we develop technologically, it will be possible for these blockchains to become more interconnected. Of course, different blockchains have their own functionalities and many of them are finding new ways to promote interoperability but they are still in development and will take some time for the innovations necessary for true interoperability to surface.

Interoperability is fundamental to improving the user experience of blockchain technology and with user experience being one of the major obstacles in the way of its wider adoption, one cannot understate the importance of working towards better interoperability within blockchains.

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