What Is A Blockchain Transmission Protocol (BTP)
With the inception of blockchain technology and the pursuance of many blockchains in the ecosystem, the idea of cross-chain interoperability and cross-chain transactions became a theory that required clarity. Where blockchain has been idolizing new systems across the digital space for the users, the idea of providing interoperability across different chains was essentially taken up by renowned projects. The concept of Blockchain Transmission Protocol (BTP) came to light amidst the idea of allowing various blockchains with distinct algorithms and consensus mechanisms to become compatible. With the concept put into application, it helped chains endorse service invocation, value transfer, and data exchange. BTP became a significant highlight for blockchains to consider in their operability across the digital space. Technically, interoperability is a welcomed addition that would make blockchain solutions more effective and convenient, accelerating adoption across the globe.
The idea of BTP potentially operates around permitting exchanges to interact directly through smart contracts, which is done through one blockchain to another without having any intermediary platform. Recruiting the idea of Blockchain Transmission Protocol is heavily based on the concepts of decentralization, which keeps the operability potentially separate from intermediary requirements.
ICON’s Blockchain Transmission Protocol
The ICON Network has been designed to take up the BlockchainTransaction Protocol concept and implement it in real engines. Many decentralized applications and blockchain projects introduced in the initiation of the idea of blockchain technology operate in isolation. This was why the industry was sub-divided into fragmented blockchains throughout the digital ecosystem. To cover the space produced by the unnecessary and unwanted segmentation of the blockchain industry, The blockchain network Icon has envisioned connecting these blockchains to make them inoperable across the platform, which is running under the Blockchain Transmission Protocol (BTP).
How Does BTP Operate?
The blockchain Transmission Protocol (BTP) needs to be operated under a set of functions and standards to transfer the data between blockchains. These functions transfer data for the validation and integrity of the blockchain. To protect it from becoming vulnerable in the process, using the right set of rules is essential for BTP to operate correctly and successfully. Some of the consistent and vital standards are message specifications, message relayers, message verifiers, and service smart contracts. If BTP has wholly control across the mentioned standards, its functionality is possible and operable in the best way possible.
While understanding the operability of Blockchain Transmission Protocol, it only links two chains, which can be continued as a link to more chains, cognitively setting up a network of interconnected and interoperable blockchains. Although this represents the most idealistic state in the digital space, it still requires data to be assessed under realistic means. Even though it means strength for most blockchains out there, its versatility still needs to be put into question for all blockchains present in the ecosystem. Some limitations need to be answered by the concept, which shall be taken forward by competitive projects like the blockchain network Icon. This technology will accommodate diverse blockchains, which, howsoever, will be accepted in the coming future.