Merkle Technologies is preparing to release a groundbreaking technology that will improve “interoperability” between current blockchains including Bitcoin, Ethereum, and Binance Smart Chain. The term “interoperability” refers to the ability of ledgers to connect with one another, alleviating the issue of relying on only one ledger. It also streamlines the verification process and provides an environment that is safe, scalable, and compatible. Users will be able to move their money from other blockchains to the chain and vice versa using the technology.
Blockchain has developed at an unprecedented rate since its inception, with many companies moving from conventional technologies to blockchain-based architecture. It may also be used in a variety of areas, including medicine, economics, supply chain, and education. Despite its enormous promise, one of the most significant problems is that it is fragmented.
Since the blockchains have different architectures and mechanisms, creating a similar interface is difficult. Merkle Technology has developed a flexible and dynamic architecture to solve many of these issues.
Michelle Ryan, the company’s spokeswoman, highlighted the disruptive technology’s enhanced security while also allowing contact between separate ledgers.
“Merkle Technologies is improving interoperability with separate block-chains and easily checking blocks without disclosing any information. The data is unchangeable and untampered with, demonstrating that Merkle Technologies is a reliable technology. Without a hitch, private and public blockchains can effectively interact. Other current blockchains will connect with Merkle Technologies, allowing companies to quickly launch a small-scale company.”
In November 2021, the firm will make the beta version of the code known as TestNet available to the general public to search for any bugs. In January 2022, it will be preceded by the debut of MainNet. The organization is currently launching a crypto token called “MTT” to raise funds for the project.
This ground-breaking technology is also expected to be widely adopted. It has been configured to handle 10,000 TPS, which is much more than any other blockchain currently in use. This scalability feature is consistent with a variety of business-related applications and will allow for quick data or transaction distribution. As the best business approach, industries will use it in their various business functions.