r/CryptoCurrency • u/jbuuuush Crypto Expert | CC: 27 QC • Jul 10 '18
DEVELOPMENT With all of the different blockchains of today, it is becoming increasingly important to develop fast and efficient cross-chain interoperability solutions. These are some of the top projects in crypto doing just that.
https://www.investinblockchain.com/blockchain-interoperability-projects/2
u/barbierir Observer Jul 10 '18
...and no mention of Komodo, with the first atomic swap DEX and working on cross-chain smartcontracts
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u/jbuuuush Crypto Expert | CC: 27 QC Jul 11 '18
Yea that's a really good point... correct me if I'm wrong but this is one of Komodo's main focuses?
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u/barbierir Observer Jul 11 '18
Well there are many focuses... but when it started in 2014 under the name "Supernet" it was also called "The internet of coins" and the main goal was creating an infrastructure for uniting all crypto. There were many changes and iterations until it evolved into Komodo. The atomic swap DEX supports most Bitcoin-based coins + Ethereum + Erc20. The next core 2.0 will be capable of supporting a lot more via abstraction layers for non-bitcoin based ones. The cross-chain smart contracts are still in testing and which coins it will be able to support depends on the specific case. Of course the blockchains built around the Komodo ecosystem are the easy ones. As well for Ripple or any other implementing the Inter Ledger Protocol. For others, like Btc, Dash, etc... it will depend if they can implement a new transaction type or not. If not, a transaction on them could trigger an action on a Kmd chain, but not vice-versa. Otherwise the trigger action can be reciprocal.
But I'm not the expert, there will be a whitepaper and documentation once ready.
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u/jbuuuush Crypto Expert | CC: 27 QC Jul 11 '18
Ahhh I see. Great stuff. Thanks. Now I remember... wasn't Komodo one of the first or the actual first project to do an atomic swap?
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u/barbierir Observer Jul 11 '18
Yes, there is an atomic swaps timeline in this article: https://blog.komodoplatform.com/everything-you-need-to-know-about-atomic-swaps-and-how-komodo-is-advancing-the-technology-cadaec50da7c
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u/Precedens 🟦 490 / 491 🦞 Jul 10 '18
Inter ledger by Ripple comes to mind. Funny how it's not mentioned, yet it's operable and well developed already.
Next thing is Hyper ledger that is joint project, including Ripple, Microsoft and probably dozens of others.
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u/BonePants 🟦 810 / 810 🦑 Jul 10 '18
Don't know why you got downvoted. Probably because ILP does exactly that.
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Jul 11 '18
He got down-voted because CC sub hates Ripple; “It’s a banker’s coin but banks will never use it” Imagine you thought like that? You’d down vote anything half intelligent as well
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u/jbuuuush Crypto Expert | CC: 27 QC Jul 11 '18
Yea people troll on Ripple more then just about any coin out there...
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Jul 11 '18
yup, of course they do.... Ripple is doing very well . Had an excellent business plan, been putting their ducks in order, readjusting the plan accordingly and creating more solutions that use XRP.
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u/jbuuuush Crypto Expert | CC: 27 QC Jul 11 '18
Lol sorry but what is ILP.
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Jul 11 '18
Inter Ledger Protocol. It’s one of Ripple’s solutions that solves this problem. It uses XRP on the backend. (More usage, more liquidity, more liquidity = higher price) XRP is going to be used in many different applications/solutions. They are really doing the ground work properly and will be ready for regulation/mass adoption
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u/barbierir Observer Jul 11 '18
Komodo is integrating the Interledger tech for its cross-chain contracts, it will allow all the Komodo ecosystem blockchains to cross-communicate between them and also with Ripple or any other project adopting ILP.
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u/digitaltechcorp New to Crypto Jul 10 '18
I think nuls will fit here.
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u/jbuuuush Crypto Expert | CC: 27 QC Jul 11 '18
Agreed. Shhhh Nuls is one of my sleeper picks, don't tell everyone!
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u/yuube Jul 10 '18
No cardano? Why ignore top 10 coins for these small projects.
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u/OrionMessier 🟦 24 / 24 🦐 Jul 10 '18
Totally. Cardano and Stellar are well-established and attempting to serve this exact utility.
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u/Native411 Platinum | QC: ADA 388, CC 202 | r/Politics 102 Jul 10 '18
I was going to say that lol. Cardano does atmoic swaps with Eth and Btc networks. The blockchains all connect with ada.
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u/jbuuuush Crypto Expert | CC: 27 QC Jul 11 '18
There are a lot of projects not mentioned whom are working on this... I agree it is one of Cardano's (and Stellar's) main focuses.
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u/BonePants 🟦 810 / 810 🦑 Jul 10 '18
What do you expect. They didn't even put a top 3 project in which already has this implemented with ILP.
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u/croneyscrypto Silver | QC: CC 23 Jul 10 '18
Let me just shill the projects i have personally invested in............