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- August 26, 2022
Hyperledger – Interoperability depends on use case
We have looked into modularity and security features of Hyperledger in the previous two articles. The two feature are part of the five Hyperledger design philosophy of the Hyperledger blockchain ecosystem. The next one is the interoperable feature which will be discussed in this article.
Put simply, the main definition or function of blockchain interoperability or also called cross-chain technology, is that it allows data and value to be transferred across different networks. This can involve multiple blockchains using different data models amongst their networks.
In blockchain, interoperability refers to the various techniques that facilitate seamless transfer of data for communication between blockchains. It is essentially seeing and accessing information across different blockchains enabling improved collaboration and efficient transfer of digital assets.
There are four evolving interoperability solutions within the Hyperledger Foundation umbrella. Hyperledger Cactus is one of them and has recently released its blockchain interoperability framework which supports Hyperledger Fabric and a number of other enterprise blockchains.
Hyperledger’s current interoperability is not just to interoperate, or transferring tokens or assets. Hyperledger has many other purposes with more technical integration features and abilities, like inter-platform migration and data sharing workflow.
It is evident that Hyperledger is focused on blockchain interoperability and blockchain integration among blockchains. The combination of these two areas will be the ideal, practical solution to many of the problems facing blockchain adoption today.
Currently, a number of Hyperledger-led projects or use cases to deliver cross-chain interoperability have already taken place, for example in the banking and finance industry. Among others, they cover cross-ledger interbank settlement transactions, multichain trade settlement system, etc.
There are many use cases of interoperability in action outside of Hyperledger. For instance, it has touched on payments, asset management, and supply chain industries with great results. Therefore, cross-chain interoperability will be the key to future mass adoption of blockchain technology.