Cross Chain Interoperability in a Nutshell

Cross-chain Interoperability refers to the ability of different blockchain networks to communicate with each other and exchange information or value. This allows for the transfer of assets or data between different blockchains, enabling interoperability between them.

There are various approaches to achieving cross-chain interoperability, including atomic swaps, which allow for the exchange of cryptocurrencies without the need for a centralized exchange, and cross-chain bridges, which are special protocols that enable the transfer of assets between different blockchains.

Cross-chain interoperabilityis an important development in the blockchain space, as it allows for greater flexibility and interoperability among different blockchain networks and can potentially lead to the creation of a decentralized, interoperable ecosystem of blockchains.

Approaches that Cross Chain Interoperability Developers can Leverage

There are several approaches that can be used to achieve cross-chain interoperabilityin blockchain:

1. Atomic swaps: These are a type of smart contract that allow for the exchange of cryptocurrencies between different blockchains without the need for a centralized exchange. Atomic swaps use hash time-locked contracts (HTLCs) to ensure that both parties fulfill their obligations in the exchange.
2. Cross-chain bridges: These are special protocols that enable the transfer of assets or information between different blockchains. Cross-chain bridges can be either centralized or decentralized, depending on the design of the specific bridge.
3. Sidechains: A sidechain is a separate blockchain that is linked to a main blockchain, allowing assets to be transferred between the two chains. Sidechains can be used to enable cross-chain interoperabilityby allowing assets to be transferred between the main chain and the sidechain.
4. Multi-chain platforms: These are blockchain platforms that support multiple different chains or networks, allowing for the integration and interoperabilityof these different chains.
5. Interledger Protocol (ILP): The ILP is an open protocol suite that allows for the transfer of value between different ledger systems, including blockchains, in a secure and decentralized manner.

 

Common Cross Chain Interoperability Developers Activities

Cross-chain operability developers are responsible for designing and implementing solutions that enable interoperability between different blockchain networks. This may involve working on projects such as atomic swaps, cross-chain bridges, sidechains, or multi-chain platforms.

Some specific tasks that cross-chain operability developers may be responsible for include:

• Designing and implementing smart contracts or protocols that enable the transfer of assets or information between different blockchains
• Writing and testing code for cross-chain operability solutions
• Collaborating with other team members and stakeholders to identify and address challenges related to cross-chain operability
• Researching and staying up-to-date on the latest developments in the field of cross-chain operability
• Participating in the development and testing of cross-chain operability solutions in a variety of contexts, including test environments and real-world deployments.

Toolsets of Cross Chain Interoperability Developers 

Cross-chain operability developers may use a variety of tools and technologies when working on projects related to interoperability between different blockchain networks. Some specific tools and technologies that they may use include:

• Programming languages: Cross-chain operability developers may use languages such as Solidity (for Ethereum), Go (for Hyperledger Fabric), or JavaScript (for Node.js-based platforms) to write and implement smart contracts and other code related to cross-chain operability.
• Blockchain platforms: Cross-chain operability developers may work with a variety of different blockchain platforms, such as Ethereum, Hyperledger Fabric, or Corda, to build and deploy cross-chain operability solutions.
• Development frameworks: There are various frameworks and libraries available that can be used to build and test cross-chain operability solutions. For example, developers working with Ethereum may use the Truffle framework to build and test smart contracts, while developers working with Hyperledger Fabric may use the Fabric Composer framework to build blockchain applications.
• Test networks: Cross-chain operability developers may use test networks, such as the Ethereum testnet or the Ropsten testnet, to test and debug their solutions in a simulated environment before deploying them to a live network.
• Other tools: Cross-chain operability developers may also use a variety of other tools, such as version control systems (e.g., Git), integrated development environments (IDEs), and debugging tools, to aid in the development process.

 

Common Responsibilities of Cross Chain Interoperability Developers

Cross chain operability developers are responsible for designing and implementing solutions that enable interoperability between different blockchain networks. Their specific responsibilities may vary depending on the specific project and the needs of their organization, but some general responsibilities of cross-chain operability developers may include:

• Designing and implementing smart contracts or protocols that enable the transfer of assets or information between different blockchains
• Writing and testing code for cross-chain operability solutions
• Collaborating with other team members and stakeholders to identify and address challenges related to cross-chain operability
• Researching and staying up-to-date on the latest developments in the field of cross-chain operability
• Participating in the development and testing of cross-chain operability solutions in a variety of contexts, including test environments and real-world deployments.

In addition to these technical responsibilities, cross-chain operability developers may also be involved in tasks such as project planning and management, writing documentation, and interacting with external stakeholders. They may also be responsible for providing technical support and troubleshooting any issues that arise during the development or deployment of cross-chain interoperability solutions.

Finding and Hiring Cross Chain Interoperability Developers

There are several ways that you can find and hire cross chain operability developers for your organization:

1. Online job boards: Websites such as LinkedIn, Indeed, and Glassdoor can be good places to search for cross chain interoperability developers and other professionals with expertise in blockchain technology.
2. Professional networks: You may be able to find cross chain interoperability developers by networking with professionals in the blockchain industry or by joining relevant professional organizations or groups.
3. Blockchain conferences and events: Attending blockchain conferences and events can be a good way to meet and connect with cross chain interoperability developers and other professionals in the field.
4. Online communities: There are many online communities, forums, and groups dedicated to blockchain technology, and these can be good places to find and connect with cross chain interoperability developers.
5. Recruitment agencies: Recruitment agencies that specialize in placing professionals in the blockchain industry may be able to help you find cross-chain interoperability developers for your organization.

It’s important to carefully evaluate the skills and experience of potential candidates to ensure that they have the necessary expertise to meet the needs of your organization. You may also want to consider factors such as their communication skills, problem-solving abilities, and overall fit with your team and company culture.

Rising Need for Cross Chain Interoperability Developers

With the advancement in Blockchain and distributed ledger technologies, the need for Cross Chain interoperability developers has also been on the rise. It is inevitable that the internet is moving ahead towards the next stage.

However, like every other groundbreaking technology, it too faces many challenges that need to be overcome. One of which is interoperabilityand scalability that requires the help of cross-chain technology and, this is where cross chain interoperability developers come to the rescue.

Unfortunately, blockchains exist largely in vitro, unable to communicate with or verify information on other chains. These silos fragment the users, features, and value of the industry. As an increasing number of chains launch, this will significantly worsen, further eroding user experience, and hindering industry growth.

–Summa, Medium.com

 

Benefits of Hiring an Agency for This Type of Project

There are several benefits to hiring a cross-chain operability agency rather than an in-house team, freelance developer, or contractor:

1. Expertise: Cross-chain operability agencies typically have a team of experts with a wide range of skills and experience in the field of cross-chain operability. This can be particularly useful if your organization does not have in-house expertise in this area.
2. Flexibility: Working with an agency can provide more flexibility in terms of the scope and duration of a project, as you can choose to work with the agency on a project-by-project basis rather than committing to a long-term arrangement.
3. Efficiency: Cross-chain operability agencies typically have well-established processes and systems in place for managing projects, which can help to ensure that projects are delivered efficiently and effectively.
4. Cost-effectiveness: Depending on the size and complexity of the project, it may be more cost-effective to work with an agency rather than hiring an in-house team or individual freelancers or contractors.

Of course, there are also potential downsides to working with a cross-chain operability agency, such as the need to build and maintain a strong working relationship with the agency, and the potential for higher costs than working with an in-house team or individual freelancers or contractors. Ultimately, the decision to work with an agency will depend on the specific needs and resources of your organization.

 

More Technical Details

Although Cross-chain technology is new, it has proven to be the facilitator for interactions among different blockchains to work together as a single chain. As of now, there are three major ways to obtain Cross Chain interoperability through Cross Chain interoperabilitydevelopers.

• Hash Time Locking
• Notary Schemes
• Relays/Sidechains

Hash Time Locking

Imagine you are A and your assets are locked in BTC while you want to receive B’s ETH. This is where the hash time lock contract comes into play, it enables cross-chain trustless assets transaction between the two of you through the hash lock. The principle is simple to understand. User A generates a unique number s and then calculates to obtain the hash value h of the unique number and sends it to user B.

Afterwards, both the users are required to lock their respective assets consecutively through the smart contract. If any one of the parties fails to produce the unique number s after the set time, the locked assets will return back to the parties failing the transaction while keeping it totally secure.

Notary Schemes

The notary scheme means that the notary establishes an intermediate account, the user transfers assets to the intermediate account, and the notary issues a shadow Token to the user across the chain that maps the original Token. When the user needs to redeem, the shadow Token is destroyed and the proof is provided to the notary. The notary will transfer the original Token in the intermediate account to the user’s address.

The notary must be credible. The notary can gain trust by relying on its own credit, or by making over collateralization through smart contracts. The notary can be a single subject, or it can be an alliance formed by a combination of multiple subjects through a certain combination of rules.

 Assuming that A and B cannot trust each other, this method simply introduces a third party that both A and B can trust together to act as a notary public. In this case, A and B can indirectly trust each other. This method does not propose a ledger in itself and does not seek any consensus.

Relays/SideChains

The third one is the side chain/relay scheme. Sidechains and relays are actually the same concept, and a relay chain is equivalent to a side chain common to multiple chains. In order to simplify the expression, we will later unify them as bridging chain solutions.

We divide bridge chain solutions into two categories, namely general solution and isomorphic cross-chain dedicated solution.

Chainwave’s Cross Chain Operability Developers

By comparing the methods listed above, you should have an idea of how our Cross Chain operability Developers at Chainwave select from the most efficient approach. Whether your team is looking for an inter ledger solution or working toward a notary mechanism, our team of highly qualified blockchain Developers can execute on those project needs. Feel free to reach out now and tell us more about your project & what we have to offer.