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The Interoperability Problem of Blockchain May Soon Be Over

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Kardiachain
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Crypto traders have certainly had a rough time since early 2018. The markets have tanked resulting in large losses for nearly everyone involved in the market. While that’s bad, what’s even worse is the fact that many projects have failed to deliver on their roadmap. Blockchain technology has been hailed as the next great advance in technology. And while many companies are making strides toward fully implementing blockchain-based technology, there is still a long way to go. As promising as blockchain technology is, there are still limitations that need to be addressed.

Limitations of Blockchain Networks

Although blockchain technology is certainly the future, the existing technology will need to be improved before it can go mainstream.  A few of the current limitations include:

  • Limited Scalability – Blockchain networks have consensus mechanisms that require each node to verify a transaction. This verification requirement slows down the network and limits the total number of transactions that can be processed.
  • Limited Usage – Each blockchain network was created with specific usage in mind. Because of the limited number of use-cases, each network eventually suffers from a never-ending loop of limited adoption. In the end, this causes low awareness.
  • Lack of Interoperability – At present, individual blockchain ecosystems are unable to communicate with each other. If a blockchain network attempts to retrieve information from an external (outside the “chain”) source, each node would have to perform the operation. But because each node acts individually, and an outside source is being used, there is no guarantee that each node will receive the same answer. This lack of homogeneity would break the consensus and therefore kill the blockchain.
  • Privacy Concerns – Users tend to think of blockchain as offering the utmost in privacy protection. However, in the case of public blockchains, all transactions show up on the public ledger with all the wallet addresses. And, although identities aren’t shown on the ledger, with enough detective work, they can easily be discovered. There is a reason why privacy coins exist!
  • Security Issues – Most people involved in the blockchain/crypto space have likely heard of a 51% attack. But what does that actually mean? If a majority of nodes give false information, the false information becomes true information. Satoshi Nakamoto highlighted the dangers of this type of attack when he launched Bitcoin in 2009.

Solution for Lack of Interoperability

In order to take blockchain technology mainstream, the above referenced limitations must be addressed. Fortunately, there are several companies working on solutions. In particular, Kardiachain (KAI) is working on addressing the issues of scalability, usage, and interoperability.

In an effort to vastly improve interoperability, Kardiachain has developed a dual node, which can establish a connection between Kardiachain’s blockchain and another separate blockchain of the user’s choice. The company’s dual master node has three primary components:

  • Translator: Utilizing Kardia Smart contract language to break the language barrier between different platforms.
  • Router: Leveraging algorithms in routing transactions to best-performing chain.
  • Aggregator:  Batching new updates from participating chains to reduce strain on Kardiachain main chain.

The dual node solution allows for a practical and non-invasive way to facilitate a secure and decentralized interchain connection, reduce cost and increase speed.  Unlike many blockchain networks offering interoperability with a standard that other blockchain needs to change to be compatible with, the end goal is to build a harmonious ecosystem that can efficiently utilize the unique strengths of all the participants.  If successful, Kardiachain would essentially become the blockchain of blockchains.

Conclusion

Although blockchain technology is quickly being adopted by companies across the world, there is still a long way to go before the technology reaches mass adoption. And, in order to reach that stage, Kardiachain has taken on the herculean task of addressing some of blockchain’s major issues such as adoptability, interoperability, and scalability.

The company is especially focused on becoming the industry-leading blockchain project in Vietnam. Vietnam is not only the fastest developing country in Asia but also has a government that is open and eager to embrace blockchain technology. This really sets it apart from other nearby areas of Asia. Mass adoption is coming to blockchain technology, it’s only a matter of time. With the technology improvements that are being developed by Kardiachain and others, that time may be coming a lot sooner than some think.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Miguel Á. Padriñán from Pexels

Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Encrypgen
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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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Tron
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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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