Why is Interconnection so important for blockchains today?
The concept of “blockchain interconnection” refers to the ability of different blockchain networks to exchange and leverage data between one another and to move unique types of digital assets between the networks' respective blockchains.
Cross blockchain compatibility, allows different blockchains to communicate with one another without the help of intermediaries. What this means is that blockchains sharing similar networks will be able to transfer value between each other
Multi-chain/Cross-chain smart contracts are decentralized applications that are composed of multiple different smart contracts deployed across multiple different blockchain networks that interoperate to create a single unified application — the immutable ledger makes data permissions clear, and once this is established, parties can exchange data.
Technically, blockchain interconnection may be defined as the ability to see, access, and share information across different blockchains or blockchain networks. Many blockchain projects want to implement interoperability to make their process easier and more transparent. Also, implementation of this process will increase the communication rate of their blockchains.EMX represents a major step in this direction.
Blockchains are important for miners and investors. People rely on blockchains as a source of income and a source of transparent transactions. They are meant for secure and safe transactions. Blockchain mining is important for validating a particular transaction.
In order to ease the above process blockchain interconnection is essential. The bigger the network, the bigger the benefit. Blockchain interconnection increases the network of blockchains, just making the process more productive.