Interoperability in Blockchain

Abstract

This seminar paper presents a comprehensive study on blockchain interoperability, focusing on enabling communication between independent blockchain networks. It examines key techniques such as cross-chain bridges, atomic swaps, relay chains, and oracle-based solutions. The paper also analyzes major platforms like Polkadot, Cosmos, and Chainlink, highlighting their roles in improving scalability and efficiency. Additionally, it discusses the challenges, security concerns, and limitations of interoperability while proposing a hybrid framework to enhance secure and reliable cross-chain communication. The study emphasizes the importance of interoperability in advancing decentralized applications and the future of Web3 technologies.