There are 2 main problems under interoperability that Cardano wants to solve:
- There is a lot of cryptocurrencies out there, however, they do not work together.
- Governments and banks avoid cryptocurrencies because they do not adhere to regular banking laws. It is hard for governments and banks to trust cryptocurrencies because they do not have metadata about transactions: to whom, from whom, and what for.
In order to address these 2 problems, Cardano envisions it to be the “internet of blockchains”, or in other words, a blockchain that understands what happens inside the other blockchains. Cardano aims to provide a platform where each individual blockchain can communicate with another and where the users can attach metadata in their transactions “if they want to”.
It is a platform where Bitcoin, Ethereum, and other coins can flow into other blockchains such as NEO without the need to go through central exchanges. To sum up, Cardano wants to create this through “Cross-chain transfers”.
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