The blockchain world is very separated. This has led to a complete disconnect and infighting. We see a lot of the "my chain is better than your chain" mindset.
This will be a thing of the past at some point. Imagine STEEM tokens being portable to most any blockchain out there. This would be a huge boost to the Steem community along with the entire cryptocurrency space.
Complete token portability. This is what is going to create the interoperability between blockchains.
This is the vision @michaelx has with BEOS. This is a chain that will sit between Bitshares and EOS enabling token portability between the two. It is not the end point of the vision. In the video, he even mentions bringing Ethereum based tokens into the fold.
The part where he discusses this starts at around 14:45.
This will enable people to select things based upon what token attributes do they want. I do like his analogy about the super highway versus local streets. Token portability will allow us to travel around the blockchain world altering the tokens (streets) we use based upon the community we are entering.
Of course, it is not mentioned directly in the video but Steem is built upon the same basic coding as Bitshares, EOS, and, now, BEOS. Think about that for a second. Steem, Bitshares, and EOS are 3 of the top 5 blockchains in terms of traffic (according to blocktivity) and they are all build upon the same basic coding. Add in the fact that BEOS is projected, from what I read, to be another chain with some very interesting activity (they are going after the world of enterprise), and you can see how a large amount of the early traffic can enjoy interoperability.
Could this be the web browser moment for the blockchain world?
To me, this means it is high time to acquire tokens, tokens, and more tokens. The early adopters are going to really benefit for going through the development process. We are seeing projects popping up all over the place. Obviously, I tend to focus upon Steem but there are other chains with a lot of activity taking place in terms of applications added. BEOS, which is essentially a fork of EOS, already has some intriguing applications waiting to be launched.
People often wonder how can so many tokens have value. Keep in mind they represent projects on a blockchain, a digital ledger. Ledgers, at their core, record transactions. As we transition in a world that is digitally based, we will see a time when there are hundreds of trillions of transactions occurring each day. Within the next decade, all 7B people will be online around the world. We are also going to see tens of billions of items connected. The IoT will truly become a reality.
My view is the majority of these transactions will ultimately be on blockchains. One blockchain is not going to handle it all. At the same time, I do not believe that one currency is going to be used for those transactions. We already live in a world where on currency is dominant and that hasn't worked out so well for most people.
I am glad to see BEOS taking this initiative. We are still a small community compared to the present system. The fighting within the industry only favors the present system because it weakens us. United we stand a much better chance of creating an alternative to what is presently out there. Token portability is key because it allows people to go where they want and use whatever they want. Essentially, the default token becomes "whatever you want to use".
This will add greater value to every token and chain that is out there. It is similar to how the Internet, which was initially a set of fragmented networks, become one with interoperability. The ability for people to visit addresses regardless of which network they were on make the entire system more valuable. We will see the same thing here.
Hopefully, they can pull it off.
Hold onto your seats, things are starting to get mighty exciting.
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Steem is in its incubation stage. Soon it hit mainstream.
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But...
Best part is that both comes from one place
And both are beauty of blockchain
Interoperability is definitely a key aspect for growth in the future as we will need ways to cross blockchains without having to go through exchanges and put up transactions that are taxable (unless laws change). However, the road starts with adoption of individual ecosystems first and the way development is going, it will not be too long before various become interconnected.
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I hope they can pull it off, it's not an easy thing to do, but things worth doing seldom are.
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