Analysis of crosschain platforms

Interoperability among blockchains became a necessity

EVEN Foundation
Jan 23, 2019 · 4 min read

New blockchain projects are announced every day. Technological diversity, a fast pace of innovations and issues with existing blockchains bring new challenges. A cross-chain solution is what leads the industry to a new level and helps to achieve mass adoption.

As interoperability among blockchains became a necessity, dozens of projects start to search for a solution. EVEN team conducted the market research to find out what different projects has already achieved. In order to compare them we came up with several questions.

Flexibility. Is it possible to use this solution with any other blockchain?

Scalability. Is it fast enough and efficient regardless the number of its users?

Mass adoption. Is it easy to use?

Cross-chain smart contracts. Do they have such technology?

Ecosystems of side chains

Existing stand-alone blockchain platforms have to comply with requirements to become a part of the ecosystem. As the requirements include specific consensus algorithms and other major technical characteristics, the unification may lead to hard forks of blockchains.

Flexibility. These solutions build separate cross-chain ecosystems instead of connecting other blockchains. It is not a flexible approach and it doesn’t solve the industry problems. While interoperability between multiple existing blockchains is not achieved, other characteristics are not important.

Side chains for existing blockchains

Flexibility. Plasma is developed as a solution compatible with only one blockchain, which is Ethereum. While technology may resolve scalability issues it nothing to do with the connection Ethereum to other blockchains. If Plasma were compatible with other blockchain systems, it would increase their efficiency while transferring data between them.

Swaps

Flexibility. Generally, swaps are safe and suitable for many platforms supporting smart contracts.

Scalability. Swaps are very slow and dependent on blockchains that they connect.

Mass adoption. Technology requires advanced awareness level and is not suitable for an average user.

Cross-chain smart contracts are not applied to the technology that is limited to asset exchange.

Proxy Tokens

Flexibility. Potentially these projects can deploy solutions for many blockchains. But each time they have to issue a customized proxy token.

Scalability and efficiency are advantages of this approach.

Mass adoption is limited by the number of supported blockchains and number of users of the projects.

Cross-chain smart contracts are not a part of the technology.

Universal crosschain

Flexibility. It does not matter what kind of asset you are going to exchange as long as someone in the network runs the corresponding node.

Scalability. EVEN Network uses efficient and safe Rated DAG.

Mass adoption of blockchain is the goal of the EVEN platform. Cross-chain operations are seamless and easy.

Cross-chain smart contracts are provided by EVEN Network.

The solution is Open Source, please follow us on GitHub to try it among the first.

What are blockchain perspectives? Does crosschain disrupts industries as Internet did? Welcome to the discussion!

Coinmonks

Coinmonks is a non-profit Crypto educational publication.

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EVEN Foundation

Written by

Decentralized Business Solutions https://evensolutions.org/en

Coinmonks

Coinmonks

Coinmonks is a non-profit Crypto educational publication. Follow us on Twitter @coinmonks Our other project — https://coincodecap.com

EVEN Foundation

Written by

Decentralized Business Solutions https://evensolutions.org/en

Coinmonks

Coinmonks

Coinmonks is a non-profit Crypto educational publication. Follow us on Twitter @coinmonks Our other project — https://coincodecap.com

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