Infrastructure, particularly interoperability, is NOT sexy, but it’s necessary.
I remember back in 2020 bridging my first bitcoin onto Ethereum via @renprotocol’s RenVM. It required initiating a transaction on the Bitcoin chain and waiting 6 confirmations for the BTC to be locked…then it required approving and executing on ETH. 2 chains, 3 transactions, multiple interfaces, and after ~60 minutes, I finally minted renBTC on Ethereum. This, USDT/C, and DAI are what seeded DeFi summer on Curve+Uni… but more on this another day.
Interop was incredibly clunky and incredibly slow (it still is), but it marked the beginnings of our industry working to solve the absolute most important problem in crypto. Interoperability.
- 2020-2021 Interop 1.0: lock/mint model with wBTC, renBTC, tBTC.
- 2021-2025 Interop 2.0: omnichain messaging, tokenization, the beginnings of intents.
I have to hand it to the interop builders. It’s a thankless category in crypto. Extremely difficult to get right, but everyone continues to push forward. From the pioneers like @bzlwang @mosayeri @mhluongo to the current category winners like @PrimordialAA @PhilippZentner.
So interop is mostly solved, now, right? Where do we go from here? With every technology, there are evolutions… improvements that displace and make prior versions obsolete.
Interop 3.0 begins here, with the combination of crosschain proofs and intents. The only iteration that can support the scale, cost, speed, and ease of integration necessary to bring the world onchain. The only solution 100x faster, 10x cheaper, and ridiculously easier to use than messaging.
Stay tuned.
Prove API Analytics is LIVE 📊
- 40k+ proofs
- $630M crosschain vol.
- 48 chains
- 0.81s median latency
Come watch numbers go brrrr (link below)
Next stop: $1B 🚀
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