Blockchain interoperability is the network of blockchains and the parameters involved in the creation of the web come under the Cosmos Network or the Polkadot network.
What is cosmos interoperability?
It is the name given to the issues and the problems which arise while adopting the blockchain technology and its features. Before moving forward, know that we have several crypto coins, Bitcoin, Ethereum, Litecoin and many more in the cryptosphere.
The communication gap between these entities, i.e. Bitcoin is unaware of the changes and happenings in Litecoin and vice-versa. There are several more things in cosmos interoperability. The banks are also unable to communicate with the digital entities. Between crypto coins and banks, we have crypto exchanges providing a platform to communicate.
You might be thinking that what else the issue is
The portal provided is not as good as the cryptos are not decentralized and they are highly vulnerable because they can be hacked.
The final solution- Cosmos Blockchain
The blockchain network, Cosmos tend to bring interoperability and scalability to it. In other words, cosmos is a decentralized network which the independent parallel blockchains create. These are powered by classical BFT consensus algorithms like Tendermint.
The prime characteristic of the network is that it is permissionless. This trait allows everyone to create blockchain over it.
Stay tuned to KindleBit Solutions to learn more about blockchains, cryptocurrencies.
Author: Manish Sanganeria
Designation : Chief Sales Officer