What is Blockchain Composability?

almost 3 years ago

Composability is a word that you've likely seen tossed around in the context of decentralized finance and for good reason!

It's one of the keys to building a digital world where value and functionality can more easily be shared between various protocols, rapidly accelerating the growth of blockchain technology.

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What is Blockchain Composability?

Blockchain composability is what's known as service oriented smart contract architecture.

Within the context of DeFi, designing with composability in mind allows for various protocols across the decentralized web to be composed together, sharing value and functionality. It is the sharing of services in order to build something great together.

As explained by Chainlink co-founder Sergey Nazarov, the new breed of more advanced smart contracts need to interact with the outside world and its collection of services.

Think of composability as a design principal, the days of siloed architecture are gone, the future is about building service oriented architecture through composability.

The Power of Composability in DeFi Smart Contracts

Great video with Chainlinks Co-founder Sergey Nazarov discusses the goal of DeFi composability and the shift toward a services-oriented architecture for next-generation financial products and systems.

Cross-Chain Composability

It should go without saying that composability is about breaking down walls between different blockchains, allowing users to access multiple protocols in concert in order to achieve their use case.

When multiple blockchain are able to freely and directly communicate with each other this goes a long way in eliminating the need for 3rd party involvement.

Additional benefits include added security with the elimination of third party verification processes and also with it increased speed of transactions as the various protocols work together as if they are hosted on the same network.

The Lego Block explanation

A common composability explanation we see online is the Lego building blocks example.

Composability is a principle that allows various components of a system to be combined to meet the intended use case requirements. Think of it in terms of Lego bricks that can be combined in an infinite number of ways to build anything you want. -https://medium.com/

Composability is a lot more than just a buzz word in the world of blockchain architecture, it's the future of our decentralized web 3.0 world.

Ciao for now,

@agr8buzz

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