What is Chain Linking in Blockchain?
The future of blockchain is interoperability.
The problem is, Bitcoin, Litecoin, Ethereum, Polkadot, Kusama, and many more exist as islands.
They are disparate silos, each with various value propositions sometimes competing for the same client base.
What then needs to be done?
Will there be a future where Monero and Bitcoin will seamlessly 'communicate'? People want Ethereum and Bitcoin to be interoperable.
The over $900 billion of value sitting in BTC ought to find use in DeFi and NFTs. It is only right and fitting.
This is where Chain Linking comes in.
Chain Linking in blockchain circles means connecting two public ledgers. This is interoperability. If two blockchains are 'chain-linked, it is possible to move transactions between them.
But there is more, with chain linking, it is possible to develop side chains. These side chains help allow information flow—as mentioned—scaling the primary chain.
If there are Bitcoin side chains, the ease of transaction flow will contribute to faster processing and lower transaction fees.