Blockchain Interoperability: What This Means For HALO Network

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HALO Network

4 min readSep 27, 2021

In the Nakamoto Consensus, the bitcoin network is seen as capable of meeting everything required of a digital ledger. Years later, the impracticality of that assertion is quite glaring. All blockchains aren’t built from the same stock; their consensus algorithms aren’t the same.

The need to exchange data and assets between blockchains makes interoperability a necessity. Structural differences in these blockchains reinforce the essence of interoperability. Currently, cross-chain activities are focused on asset transfer, ensuring users benefit from the variations of blockchains.

Blockchain interoperability help users to navigate the shortcomings of each digital ledger. It’s such an integral aspect that blockchains do attempt compatibility with other chains.

Does HALO Network Support Blockchain Interoperability?

Modern blockchains are supportive of the concept of interoperability, and HALO Network is no different.

For starters, HALO Network is compatible with Ethereum, the anointed choice of decentralized applications, also known as DApps. The blockchain is built on the Ethereum Virtual Machine (EVM), making Isomorphic interoperability the case between Ethereum and HALO Network.

Besides its compatibility with the Ethereum framework, HALO Network has a standardized structure, which explains its exceptional interoperability.

At the core of HALO Network’s interoperability solutions is HALO Bridge Protocol. Though cross-chain bridges on other chains are expensive, HALO Network provides interested users with a viable option in its bridge protocol.

Is HALO Bridge Protocol Ideal For Blockchain Interoperability?

Of course, ideal structures don’t exist on the digital ledger, but HALO bridge does one better than most cross-chain solutions in the use of smart contracts. Based on the EVM, HALO bridge delivers on different fronts, including security, transparency, and durability. The bridge’s cheaper solution is something most cross-chain bridges have struggled to replicate.

Interoperability is nothing if security isn’t prioritized. HALO Network delivers in that regard through the reliance on consensus voting. The act of voting in cross-chain transactions is not common; HALO Network thrives in novelty so this isn’t surprising.

Blockchain Adoption — The Interoperability Connection

As more enterprises get to know about blockchain and its perks, applications make the switch to the digital ledger. Blockchain continues to creep into all sectors — DeFi and CBDCs as outstanding examples — but this means more attention gets devoted to cross-chain developments, which is the Achilles of most blockchains.

The growth of the crypto space is evident — a $2 trillion market cap says it all. Yet, there’s more room for growth as long as blockchains drop the independent cloak and communicate often with each other. No blockchain should be an island of knowledge, which is the current situation right now.

Through interoperability, blockchains can truly become the building blocks of an interconnected virtual space. There’s the need to jettison self-interest by blockchains while focusing on connecting these digital ledgers. A crypto space based on togetherness is more likely to attract mass adoption than a house divided against itself.

What Has HALO Network Done To Improve The State Of Interoperability?

Blockchains have been working on interoperability since time immemorial. Yet, it’s HALO Network’s attempt that appears to be the most effective. Where others have merely scratched the surface through communication processes, HALO Network has delivered a more palpable heterogeneity between bridged chains; the result is a more even communication between blockchains.

The reliance on bridges to deliver cross-chain solutions might come with the implementation baggage, but HALO Bridge does get a few things right. It’s the start of something wonderful for blockchain adoption.

The move towards a more cohesive internet popularly regarded as Web 3.0 needs a full introduction of interoperability among blockchains. HALO Bridge’s current offering — cross-chain connections with ETH and BSC is a start. That’s not the only grey area: the consensus voting and payment of fees for the relevant chains creates a situation where interactions are certainly linear and permissioned.

What Needs To Change?

HALO Network is making progress through the creation of communication routes with other blockchains. Yet, a harmonization of efforts is required. All blockchains have to come together under one canopy, with developers brainstorming on ways to have one house where everyone has a sense of belonging. HALO Network can’t do it alone. Interoperability is never a solo effort.

Agnostics Hold The Answer

Blockchain might have pitched a tent in many quarters, but it’s still not at the level of the internet. Not everyone believes in blockchain technology. The many blockchain variations aren’t confidence-boosting.

The dot com boom is one aspect of history that blockchain enthusiasts have failed to digest. History often repeats itself, but responses differ. Can blockchain survive the current interoperability challenges? This will depend on the digital ledger becoming more platform-agnostic, not the analog bridges that support cross-chain interactions.

Conclusion

HALO Network is punching above its weight by relying on its smart contract-dependent, HALO bridge to deliver on interoperability commitments. Cross-chain solutions have to look towards making the blockchain space that one, big family it once was.