Blockchain has been a popular medium for creators of all types. Blockchain tech offers something for everyone, from digital artists to software developers. However, one big challenge still remains in the space – most blockchains follow the ‘to each their own’ concept. Interoperability in web3 remains elusive, which makes it difficult for creators to get involved and makes the entry barrier for many more steep.
The opportunity to work freely and seamlessly is one of the most important elements that all creators are looking for.
What can be improved?
At the moment, blockchain developers are unable to work together. A team of developers may be able to work on one project together, but cross-chain collaboration is rare.
Developers select a blockchain they’d like to work on, and there is little room for integrations beyond that protocol. This is a serious limitation in an industry where new capabilities and blockchains are appearing every minute.
To reach the next level in blockchain adoption, and to create a truly nurturing creator economy out the blockchain space there must be more opportunities for collaboration. If creators are able to choose which features and protocol they want to use, the Web3 space will experience significant growth and increased adoption. The whole blockchain space will become more open to collaboration and cross-chain implementation.
What’s more, blockchain developers are still struggling to settle joint-ownership cases when cross-chain functionalities are added to dapps. However, Web3 could still offer the possibility of seamless collaboration. Parachains have made cross-chain communication easier and more possible than ever.
Parachains: The most probable solution?
Polkadot’s parachain auction program was launched a little more than a year ago. But projects are now racing for places and rushing to get there. What’s the reason? Parachains are the best solution to the interoperability issue blockchain projects face at the moment.
What is a parachain?
Parachains allow for separate blockchains to run parallel to one another while achieving consensus via the Polkadot base Relay Chain. This allows services to be connected across multiple chains on Polkadot. This is in contrast to smart contract blockchains like Ethereum or Avalanche that require transactions to be made, smart contracts to be fulfilled, and dApp activity to be performed on one chain.
Parachains enable creators to transfer, exchange, and share data of any type (from simple messages to fungible tokens) across multiple chains within the Polkadot ecosystem. This allows creators both to work on their own chain and also to benefit from the larger Polkadot community.
Thanks to the cross-chain compatibility that is deeply rooted in Polkadot’s design, the protocol is becoming a go-to for Web3 developers and creators. Find out more about how one company works to promote the collaborative aspect in the blockchain space.
How can parachains be used to help create a better creator economic?
This innovative look at blockchains is what the creator community requires, with cross-chain collaboration at its core. Already, Web3 projects have noticed the advantages parachains bring to decentralized app development.
What’s more, protocol builders are also turning their focus toward the Polkadot ecosystem. Take InvArch NetworkFor example, This chain is a promising one and offers easy access to multiparty ownership, collaboration and monetization tools. InvArch has set its sights to win a Polkadot Parachain Auction.
The InvArch Network concept was developed in the parachain environment. It won a Kusama slot with one its parachains. InvArch seeks to foster cross-chain collaboration and provide monetization solutions for developers.
Dakota Barnett, founder of InvArch said:
“The key to generating real value through Web3 is by providing solutions that allow others to generate value for themselves. This is more than DeFi, this is giving people the tools they need to generate the new value, not just move it around in a zero-sum game.”
The future blockchain creator economy is already in the making. But the journey to a fully inter-chain ecosystem will be long. Parachains taking over Web3 will give developers more opportunities for creative collaboration and cross-chain capabilities.
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