Trends in building fungible blockchains for data and value exchange
by Surekha Thota; Gopal Krishna Shyam
International Journal of Blockchains and Cryptocurrencies (IJBC), Vol. 2, No. 1, 2021

Abstract: Industries applaud blockchain technology because of its nature of removing intermediaries involved in assets and value exchange. The first and second-generation blockchain operates in silos and restricts inter-blockchain communication. This restriction is a hindrance to implement blockchain for the real-world asset and value exchange. So, the third generation blockchains focus on issues like scalability and interoperability. We believe that a solution for interoperability can solve the complexities involved in providing blockchain-as-a-service (BaaS). Hence, we reviewed various projects that aim to build fungible blockchains. Each project uses its protocol stack for achieving interoperability. In this research, we conducted a thorough literature review and identified the strengths and weaknesses of various blockchain interoperable projects. We have classified these projects based on the interoperability scheme and finality consensus. This survey helps the researchers and industries to identify the research gaps and choose the best suitable project for their research and business needs.

Online publication date: Sat, 25-Sep-2021

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