Interoperability is one of the most important concepts surrounding the future of the blockchain and it’s a subject that’s going to be revisited time and again with each new coin’s push for success. Let’s talk a bit about what interoperability is and why it’s crucial for any coin that wants to be a part of the blockchain’s future.
What Is Interoperability?
Interoperability is simply the ability of two different products or systems to talk to each other without human input. This is the key concept behind the so-called “Internet of Things”. Perhaps the most common example of interoperability is Microsoft Office’s ability to send and manipulate data across its various individual programs, like Word and Excel. In other words, a graph created in Excel can easily be ported to Word and the resulting Word document can then be ported to PowerPoint. Email is another common example of interoperability.
Why Is Interoperability So Important to the Future of Blockchain?
Interoperability is at the heart of blockchain Smart Contracts, or contracts that are self-executing based on the information they contain. Believe it or not, but you’ve almost certainly used an analogue smart contract before – a vending machine. Fully interoperable blockchains permit smart contracts to be executed with speed and ease. One possible use case involves passports. A fully interoperable blockchain could take the information you submit for a new passport – like your picture – and then communicate with government records to grant or renew your passport. A smart contract has been executed on the blockchain without human intervention to complete the passport process, and it retains the security of the traditional process due to the inherent security of blockchain technology.
Has Any Coin Achieved Full Interoperability?
The short answer is no, not until now. However, DasCoin is a hybrid cryptocurrency that combines the regulatory benefits of centralized currencies with the speed, security, and privacy that come with blockchain technology. As such, it has the scope to build an interoperable platform providing real utility.
DasCoin’s smart contracts are engineered to be interoperable across a variety of platforms. This increases both their versatility and their usefulness. The DasPay system, built on the DasCoin platform, leverages the 60 million merchant-strong Visa and Mastercard networks to send DasCoin safely and reliably.
DasCoin’s interoperability with these platforms creates a gateway, of sorts, to a potentially vast consumer market.
DasCoin also has plans to launch additional distributed apps on its blockchain, interoperable both within the blockchain itself and with additional networks.
Interoperability is quickly becoming necessary for altcoins to survive. DasCoin seems to already have the right pieces in place.