A Successful Experiment - Axoni And Clearmatics Prove Interoperability Betwixt Blockchain To Be A Possibility

A Successful Experiment – Axoni And Clearmatics Prove Interoperability Betwixt Blockchain To Be A Possibility

The blockchain has proven to be the technology of the new era; its applicability results to be immense, even getting to the point where it can be used to improve almost all of the processes in the current financial landscape. This, of course, represents an excellent opportunity to optimize a broad variety of methods in the industry that can function in a better way. But, can we improve as well the way it works the blockchain?

Doubtlessly, it represents a considerable challenge. However, every day we see how the very use of this cutting-edge technology takes us to new horizons, and that’s exactly what may be happening at the moment after a recent discovery that could translate into an even better performance of the blockchain technologies.

Axoni And Clearmatics Test

On the one hand, we have Axoni, a company based in New York City which specializes in distributed ledger infrastructure. As the company itself establishes on its website, it was back in 2013 when the company was founded with the vision of “overhauling global capital markets infrastructure”. An idea that has transformed into a reality with the help of outstanding technology developments and the best alliances with a great number of leaders of the financial industry.

On the other, we have Clearmatics, a London based company that “combine distributed ledger technology with automated logic,” a mixture through which the company gives validation and execution to both economic and data processes using just one platform.

These two giants have joined to deploy a very ambitious test, designing a prototype of the payments settlement between two different ledgers. To make this happen, it was used AxLang, a domain-specific language created by Axoni, and the same way, the interoperability protocol constructed across currency chains by Clearmatics, Ion.

AxLang served as the code in which was written the smart contract modeled in the demonstration. This programing language based on Scala permits the implementation of functional programming, and at the same time, it activates formal verifications for smart contracts based on Ethereum protocols, a feature undoubtedly needed in a panorama where constantly a bunch of incidents related to faulty smart contracts tend to happen.

Ion, on its part, served as the protocol of Open Source Interoperability facilitating the successive settlement of cross-chain of the resulting two cash payments. This dominant protocol is designed to perform atomic exchanges crosswise different turning-complete blockchains, supporting like that a diverse variety of cases including delivery vs. payment.

Axoni And Clearmatics Conclusion

We all know how huge are the options that the blockchain provides, and this demonstration can definitely take this technology to the next step. Maximization of the blockchain is likely to occur if interoperability can successfully be deployed, a fact that would prove the possibility of creating a real end-to-end value.

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