Achieving seamless interaction between different Layer-1 networks is crucial to unlocking the full potential of blockchain solutions and expediting global adoption. However, the decentralized nature of blockchain presents complex challenges, making it challenging to overcome silos.
Current cross-chain solutions, such as bridges, have proven to be susceptible to hacking attacks, which highlights the need for a more secure and reliable method of achieving interoperability between different Layer-1 networks.
Although bridges have been effective in demonstrating the possibilities, they are not the ideal solution for interoperability. Most bridges utilize the notary model to enable communication between different chains. This approach involves a trusted third party to process cross-chain transactions by verifying and forwarding them. Even with multisignature notaries, which are more secure than single-signature notary solutions, there is still a risk of hacking attacks.
In the future, projects that can achieve interoperability without relying on bridges are likely to succeed and lay the foundation for cross-chain communication. By enabling a bridgeless future, the blockchain industry can scale at an unprecedented rate, enabling developers to create once and deploy on any chain. This opens up a plethora of potential use cases and expands the scope of blockchain solutions.