Coinbase-Led Rosetta Links Neo To Its Platform To Introduce Next-Gen Internet
On June 17, Rosetta was introduced as a uniformity tool to allow the blockchains to communicate with each other.
Difficult To Integrate Different Blockchains On One Platform
It has been mentioned that each blockchain in the space is different from each other, therefore, it is very difficult for the crypto project developers to add any other blockchain on their platforms.
As per the blog post shared by Neo, “The process requires careful analysis of the unique aspects of each blockchain and extensive communication with its developers to understand the best strategies to deploy nodes, recognize deposits, and broadcast transactions.”
Additionally, the interoperability-focused blockchain platform asserted that during the analysis process, the project developers do not get time to work on its own blockchain, because most of their time gets consumed answering the questions raised by the blockchain integrating team.
The crypto companies who are a bit aware of blockchain’s operation could easily add those blockchains which comply with the framework of Rosetta.
Blockchains Comply With Rosetta’s Framework
According to the reports, the blockchain developers who have minted their own coins and now want to list it on an exchange or to link it with any other services could take the help of blockchains that comply with Rosetta, as it would be very beneficial for them.
Also, the developers who are planning to link their platform with another blockchain could use the Rosetta blockchain as it would help them in enhancing their products along with the new services.
In the year 2014, Da Hongfei and Erik Zhang co-founded the blockchain platform of China, Neo. The platform not only allows the trading of cryptocurrency but also focuses on digital identity and smart contacts.
The report mentioned that the blockchain platform has co-founded an interoperability blockchain platform PolyNetworks, also it operates Flamingo, an interoperable DeFi Platform.