Bitcoin price Bitcoin Blockchain Libonomy In the world of technology and finance, more than 10 years have passed since the blockchain appeared. Since then, a large dedicated community has arisen around the technologies, applications, and cryptocurrencies that were focused on a decentralized registry, which not only enjoyed all the benefits of the blockchain but also sought to expand and improve it in any possible way. There are thousands of projects today that vary greatly from each other and deliver various features, skills, and advantages.
But a problem emerged with the development of the blockchain community and the introduction of several fresh blockchains: individuals were cut off from each other from various blockchain ecosystems. If you use the blockchain of Ethereum and your friend prefers LN, then you can not communicate with each other, unfortunately. The topic of cross-platform and interoperability is very complex, as decentralized networks run on various consensus protocols and have distinct network values.
But not so long ago, Libonomy, a modern platform that interconnects multiple protocols under one ecosystem, was a solution on the market. It is a team headed by Richard Haverinen (CEO), Fredrik Johansson and Therese Johansson, three Swedish entrepreneurs. The three co-founders, who are lifelong friends, have a lengthy history of running Bitcoin price Bitcoin Blockchain Libonomy companies and creating several start-ups. Together, they have spent the second half of the last decade gaining information about decentralized technology with common philosophy in their minds and creating an articulate team around them, the product of their acts, Libonomy.
Libonomy is autonomous and scalable thanks to AI, since, depending on the user’s requests, the self-learning technology can change the block size, network bandwidth and other parameters Bitcoin price Bitcoin Blockchain Libonomy. The Libonomy framework is designed to be used to build dAPPs, smart contracts, cross-blockchain transactions and DEXs for launch.
Although the project is still in progress, an update that adds a connection between Libonomy and the Bitcoin blockchain has recently been published. Now, Bitcoin transactions using the BTC Relayer technology can be executed from the Libonomy blockchain wallet! This feature was checked and positive results were reported by the developers.
The BTC Relayer is the contact bridge in the cross-chain environment between the Bitcoin network and the alliance-chain. The responsibility of BTC Relayer is to forward Bitcoin price Bitcoin Blockchain Libonomy cross-chain transactions to the alliance-chain. Within the cross-chain, this is the first step. Two elements form the core functions:
The first aspect is to track the Bitcoin-network to the consortium-chain, which forwards BTC-transactions that will be cross-chained to other chains. The second aspect is the consortium-chain control and transmission of transactions to the Bitcoin-network.
You should explore the Libonomy repository on GitHub to find out more about the technology.
The Libonomy team is launching broader connections with Ethereum, Bitcoin, Poly Network, Cosmos and other blockchains in the coming year. Thus, within the blockchain industry, we can now witness the development of a brand new interoperability format Bitcoin price Bitcoin Blockchain Libonomy. Perhaps the world of decentralized technology will undergo big changes for the better after the complete release of the Libonomy Ecosystem.