An interoperable network is a system of distinct blockchain protocols or digital ledgers that can communicate and exchange data or assets seamlessly. This capability allows different networks to interact without needing a central intermediary for conversions or translations. It facilitates a more connected and expansive digital asset ecosystem.
Context
The development of interoperable networks is a primary objective in the blockchain space, aiming to overcome the fragmentation between various layer-one and layer-two solutions. News frequently covers advancements in cross-chain bridges, atomic swaps, and standardized communication protocols. Achieving true interoperability is considered essential for the widespread adoption and scalability of decentralized applications.
Digitizing the Bill of Lading process via DLT shifts trade finance from a multi-day courier dependency to minute-scale settlement, significantly boosting working capital velocity.
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