Over the years, I’ve realized and agree that Blockchain innovation sparks a chain reaction of new challenges…

Better still…

The emergence of new technologies carries alongside it, new challenges and problems to solve.

It’s a case of Innovation leading to more innovation, LITERALLY.

You’d think that building a blockchain would solve the problem of centralization…

Until you’re found with the issues of scalability and interoperability. Eventually, when this is solved, you’d need to tackle security issues. And when you try so hard to crack that nut, the challenges of high expenditures for securing the blockchain face you.

The list goes on and on…

All pointing you to the fact that every innovation carries its problems and limitations alongside it.

When you’re building a blockchain, you’d consider:

Scalability challenges → Security concerns → Increased costs → Other issues.

What is my point exactly?

We celebrated the #bitcoin halving earlier in the year, and the rise of a lot of #BTC variants, and L2s.

But we never considered the problems of:
• Lack of Interoperability
• ⁠Fragmentation
• ⁠Scalability
• ⁠Reduced liquidity across the variants.

Why have many variants of BTC if there’s no way these variants can be interconnected?!

I feel this is one of the strengths of the Cosmos Network ecosystem…

While the concept has its flaws. The idea of #interoperability is novel! We need this for the rising #Bitcoin L2s! A means to promote interoperability amongst the #BTC variants.

A CROSS-CHAIN SOLUTION FOR BTC!

Persistence gives more perspective about this in this article: https://blog.persistence.one/2024/07/10/bitcoin-l2s-and-their-own-btc-variants/

The team recently announced their goal is to facilitate the transition from using #BTC as a store of value and help it integrate into a broader #BTCfi landscape. So far, we’ve seen more developments around this, and I will be sharing these developments progressively!

Do well to give Godswill Akpan a follow, and turn on my notification for my next episode.