Developing a decentralized internet is one of the many possible outcomes of combining cryptocurrencies and blockchain infrastructure. The so-called Blockchain Router may make that vision come true a lot sooner than originally anticipated. Designed by Blocknet, it is a major step forward in improving blockchain interoperability.
The XRouter Concept
Anyone who has kept a close eye on blockchain and cryptocurrency developments will have noted a peculiar trend. Despite the growing number of ventures in these industries, interoperability is virtually non-existent. Competition is heating up in the blockchain world, but if none of these solutions can work together, there’s little point in developing them. As such, a missing link needs to be established to bridge the gap between different chains and their respective ecosystems. XRouter may be that missing piece of the puzzle.
How Does it Work?
Blocknet recently unveiled its XRouter, or blockchain router, which acts as an inter-blockchain SPV client backend. This tool allows for the verification of records from any blockchain, at least in theory. More importantly, this interoperable solution doesn’t require users to download each blockchain separately. Considering that the Bitcoin blockchain is growing in size quite quickly, not having to download it isn’t an unnecessary luxury by any means.
Even though this technology is being put in place, it still requires an accommodating infrastructure to make good things happen. Developers are invited to write lightweight DApps to harness any protocol, feature, or contract made available on any blockchain now or in the future. When these solutions finally begin to communicate with one another, the blockchain and cryptocurrency ecosystem will finally become something that can no longer be ignored. With decentralized file storage, payments, services, and contracts becoming a reality, achieving a decentralized internet isn’t that far off, theoretically speaking.
Additionally, XRouter enables consumers to verify the truthfulness of data provided to them if needed. Even though distributed ledgers are immutable, the original information recorded on them may not necessarily be correct. At the same time, this concept preserves the trustless nature of cryptocurrency, as it becomes easier to safely conduct business with anyone and everyone. From a neutral point of view, this will pave the way for a wide array of use cases, business opportunities, and collaborative efforts.
What Comes Next?
It is evident the XRouter infrastructure holds a lot of promise for the future of blockchain and cryptocurrency. However, without the proper tools to take advantage of this technology, not much will change. As such, developers will need to look into XRouter and determine if and how they can contribute to this interoperable ecosystem. This may very well be the development that kicks off an entirely new era of blockchain tech and cryptocurrency, though only time will tell if the technology is solid and works as expected.
via The Merkle https://themerkle.com
May 18, 2018 at 01:06PM
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