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The first step towards blockchain interoperability
The crypto world took a giant leap forward this week with Essentia announcing their multi-chain passwordless dAppstore. This innovation has led many to believe the future of interoperability between blockchains and decentralized services is not as far off as originally estimated, here’s why…
DApps are proving beneficial for many industries, but they notoriously lack interoperability. One explanation is that each blockchain requires currency generation to function – and as we know – these currencies, or tokens, are incredibly volatile and any attempts at pegging to a stable currency have fallen short (see Vitalik Buterin – inventor of Ethereum’s – hilarious parody with his WTF coin).
This has meant that dApps largely stand on their own while users have to face the impracticality of purchasing and holding dozens of tokens. Hence, for interoperability to work, a single token which can operate across multiple blockchains is required.
The integrated dApp store solves this problem, the Essentia protocol enables users to integrate dApps onto the platform and access them entirely through the ESS token. The protocol is also accessible through a seed or hardware wallet device, making it possible to login and access +1k of dApps without a single password. As the old proverb goes… “two birds, one stone blockchain”.
Essentia co-founder Matteo Gianpietro Zago remarked that one of the primary motivations behind building the project was to fix the problem of fragmentation in the Web 3.0.
“We now have over a thousand
