11/30/2017 4:00:18 PM
Blockchain Interoperability Alliance has been formed
Blockchain Technology,Cross-Chain Technology,Enterprise Blockchain
App Developer Magazine

Blockchain Interoperability Alliance has been formed

Richard Harris Richard Harris in Cryptocurrency Thursday, November 30, 2017

Blockchain Interoperability Alliance looks to create cross-chain solutions for inter-blockchain transactions.

Aion, Wanchain, and ICON has announced the formation of the Blockchain Interoperability Alliance. The Alliance came together to develop industry standards, collaborate on research and design, and work towards a shared mission to promote broader adoption of blockchain technology.

The inability for independent blockchain protocols to communicate in a decentralized and scalable way is a key obstacle to mainstream adoption in both public and private networks, and multiple projects have launched to build solutions. While each project has its own initial use cases and design, all are working towards a common goal to connect blockchain protocols. The Alliance’s first objective is to collaborate on research and design for cross-chain transactions and communication.

“We believe that collaborating across projects will help set best practices for blockchain interoperability and encourage broader market adoption across enterprises and the public,” said Aion Founder Matthew Spoke.

“The ICON project was first started at the request of our enterprise blockchain clients to interconnect with other blockchain networks,” said JH Kim, ICON Foundation Council Member. “The goal of this alliance is to create a globally accepted standard for connecting blockchains, and to bring innovations together.”

“The Blockchain Interoperability Alliance will play a crucial role in increasing the connectivity of our digital assets and our lives,” said Wanchain President Dustin Byington. 

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