Singapore-based blockchain platform DATx has created a cross-chain interoperability function that it says will help accelerate widespread commercial adoption of the technology.
Cross-chain interoperability is the ability of two different blockchains to essentially ‘talk’ to each other, enabling the transfer of information between multiple platforms.
Due to technical barriers in differing protocols between blockchains, cross-chain interoperability has not yet been achievable on a significant scale.
Considering the increasingly fragmented nature of the blockchain industry, advocates say cross-chain interoperability is needed for a more efficient token economy.
“Without cross-chain interoperability protocols, each blockchain will be an isolated island,” DATx global business development Mona Du said.
“This is detrimental for the development of DAPPs and the entire blockchain ecosystem.”
The DATxChain has added the cross-chain protocol to its platform, establishing it as a hub for multiple supported blockchains including bitcoin, ethereum and EOS.
DATx said the cross-chain addition would also enable more interactions between DAPPs and their users; currently most DAPPs are unable to attract consistent user bases as each DAPP can only operate on its own chain, limited to the resources of that chain’s token holders.
“Multi-asset cross chain interoperability is the foundation. And this foundation will help establish the DATxChain ecosystem, allowing DAPP developers to innovate passionately and freely,” Du said.