Interchain security is just as important as the security within a single network of blockchains, and this is especially true in consumer chains where people have real money at stake.
For example, if I go to my grocery store and buy milk with Bitcoin, it’s great that this transaction goes through with no issues.
What happens, though, if I later decide to refund my purchase?
What if I want to transfer some of the milk to a friend? Will they be able to access my original payment on the blockchain?
What is an Interchain?
Problems with Current Models
Using Blockchain to Improve Consumer Chain Communication
- The use of blockchain can help to improve communication between different consumer chains.
- By using a distributed ledger, all members of the chain can have access to the same information.
- This can help to avoid misunderstandings and ensure that everyone is on the same page. Additionally, blockchain can provide a certain level of security to the data shared between chains.
- This is because it is difficult to tamper with data that is stored on a blockchain.
- If one chain were to try to tamper with the data of another chain, it would be immediately apparent to all other members of the network.
- Therefore, using blockchain can help to improve communication and security between different consumer chains.