Dragonchain’s New Internet of Value- Using ETH and ETC with Interchain
In August 1962, J.C.R Licklider of MIT shared a series of memos discussing his “Galactic Network” concept, resulting in the first social interactions enabled through networking. This was the start of a globally interconnected set of a set of computers, through which users could quickly access data and programs from any site.
In July 2018, a Dragonchain developer shared a series of transactions bridging the ETH and ETC for the first time ever through Interchain. This was the start of a globally Interchained set of blockchains, which allowed users to quickly access data and programs from any blockchain.
Ethereum Classic (ETC) joins Ethereum (ETH) on Dragonchain’s list of public blockchains supported by the Smart Contract Library, with NEO and BTC Interchain capabilities soon to follow.
Though the business world continues to see blockchain growth, the community has also experienced limitations posed by the current state of blockchain platforms. Users continue to encounter problems with security and scalability, problems some platforms are unequipped to address. Interchain is set to lift those limitations and connect solutions. All blockchains are welcome.
ETC Interchain capabilities represent an enormous technological improvement for the Dragonchain Platform; they provide enterprise partners with more choices, security, and control over their blockchain solutions. We aim to expand this potential for interoperability by continuing to add public blockchains to the Interchain network, creating the strongest, most flexible solution for businesses. With Interchain, users can be confident that their data and resources will be kept safe and usable, even if their public blockchain is compromised or falls into disuse.
Let’s say that as a business, you have decided to use Ethereum for your blockchain solution. You’ve spent a considerable amount of resources to develop a new company process; hiring developers, transferring data, and onboarding a blockchain infrastructure. However, let’s say in the future that Ethereum (ETH) suddenly ceases to exist. What would happen to your company?
Using Interchain gives users a safety net in these types of scenarios; the functionality of multiple public blockchains provides them with something to fall back on if the worst comes to pass. As users interface with an increasing number of public blockchains, they experience a proportionately reduced network security risk. Each public blockchain, like ETC, that is added to the Interchain network increases security for our partners and users.
Interchain not only increases data security, it also helps future-proof blockchain solutions with a variety of features and the ability to tailor projects. ETC has a smaller user base than Bitcoin or Ethereum, but this comes with the advantage of lower transaction costs and processing times. Interchain gives businesses the ability to choose the best public blockchain for their project timeline, budget, and security. A user may determine that Ethereum is better for some purposes and ETC is better for others; with Interchain, they are not confined to one or the other and can leverage the best blockchain technology for their business needs.
See for yourself what you can accomplish with the ETC Interchain, try it out on our platform for free using Dragonchain Labs.
Know a blockchain you think we should add to the Interchain network? Email us at support(@)dragonchain(DOT)com to let us know.