One major challenge that blockchain technology is facing is the lack of interoperability, or the lack of cross-chain compatibility. One simple example to understand interoperability is the WhatsApp app supporting all leading platforms, which are iOS, Android and Windows. However, such flexibility isn’t in blockchain technology fully yet. Although new and promising blockchains are coming, they are growing in parallel because the current blockchain architecture doesn’t fully allow them to communicate with each other. To address this issue, many cryptocurrencies are now coming. Let’s take a look at the top ten interoperability cryptocurrencies.
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Top Ten Interoperability Cryptocurrencies
We have used the market cap of the tokens (as of August 13, 2021) from coinmarketcap.com to rank the top ten interoperability cryptocurrencies.
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VerusCoin (VRSC, $51 million)
VerusCoin is making efforts to provide Public Blockchains as a Service (PBaaS). It came up with Proof of Power, which is a new consensus algorithm that aims to address shortcomings in other PoS systems. VRSC is currently trading at around $0.7838 and is up by over 17% in the last seven days. This cryptocurrency has an all-time high of $3.42 (April 2021) and an all-time low of $0.04129 (Jan 2021).
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Darwinia Network (RING, $63 million)
Built on Substrate, Darwinia is a Web3.0 cross-chain bridge hub. Darwinia’s major apps are game, Defi and NFT. RING is the native token of this platform. This token is also the primary asset of Evolution Land, which is a Metaverse game. RING is currently trading at around $0.1183 and is up by over 130% in the last seven days. This crypto has an all-time high of $0.3064 (March 2021) and an all-time low of $0.003566 (July 2020).
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CertiK (CTK, $95 million)
CertiK is a security-first, delegated proof-of-stake blockchain. This platform supports the execution of mission-critical apps, such as DeFi, NFTs and autonomous vehicles. CTK is currently trading at around $1.72 and is up by over 29% in the last seven days. This cryptocurrency has an all-time high of $3.97 (April 2021).
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Bifrost (BFC, $99 million)
Bifrost is primarily a multichain middleware platform. It basically develops a new environment that enables developers to use the best protocols to come up with scalable and flexible DApps. BFC is currently trading at around $0.149 and is up by over 170% in the last seven days. This crypto has an all-time high of $0.2638 (April 2021) and all-time low of $0.01623 (Jan 2021).
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KardiaChain (KAI, $153 million)
First announced in October 2018, KardiaChain aims to be fully interoperable and "non-invasive." This means it wants other blockchains to connect to its network without making any technical changes to their protocols. KAI is currently trading at $0.05943 and is down by over 3% in the last seven days. This crypto has an all-time high of $0.1596 (April 2021) and all-time low of $0.0004011 (May 2020).
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Wanchain (WAN, $161 million)
Founded in 2017, Wanchain is a distributed ledger that facilitates cross-chain transactions and interoperability of multiple chains. Even though it supports transactions between blockchains, it is a stand-alone blockchain that runs autonomously. WAN is currently trading at $0.8624 and is up by over 22% in the last seven days. This crypto has an all-time high of $9.92 (May 2018) and all-time low of $0.07575 (March 2020).
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WhiteCoin (XWC, $773 million)
Launched in 2014, WhiteCoin is a community-based decentralization project. The Netherlands, Germany, Finland, Australia and more countries are the primary members of the original development team. XWC is currently trading at around $1.02 and is up by over 3% in the last seven days. This crypto has an all-time high of $2.62 (March 2021) and all-time low of $0.00006573 (November 2015).
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ICON (ICX, $780 million)
ICON is a decentralized blockchain network that focuses on interoperability. Its “blockchain transmission protocol” allows independent blockchains to connect and transact with each other. ICX is currently trading at around $1.18 and is up by over 12% in the last seven days. This crypto has an all-time high of $12.64 (Jan 2018) and all-time low of $0.1069 (Jan 2020).
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Quant (QNT, $1,886 million)
Launched in 2018, Quant aims to connect blockchains and networks without reducing the efficiency and interoperability of the network. Moreover, it was the first project to address the interoperability problem by creating the first blockchain operating system. QNT is currently trading at around $157.19 and is down by over 6% in the last seven days. This crypto has an all-time high of $191.69 (August 2, 2021) and all-time low of $0.1636 (August 23, 2018).
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Cosmos (ATOM, $3272 million)
Founded in 2016, this coin aims to address the issue of “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols. Another objective of ATOM is to make blockchain technology less complex for developers. ATOM is currently trading at around $14.94 and has gained over 13% in the last seven days. This crypto has an all-time high of $32.14 (May 07, 2021) and all-time low of $1.13 (Mar 13, 2020).
