As the first hyper-deflationary blockchain digital currency network on the market, AXIA is at the top of its field in terms of transparency, security, and real-world utility. Not only that but this network was also designed to include full interoperability between AXIA CoreChain and AllyChains. The hyper-deflationary tokenomics of AXIA combined with the program’s interoperability makes AXIA one-of-a-kind among digital currencies available today.
What is Interoperability?
In order to fully grasp the full extent of the AXIA Ecosystem, there must be a clear definition of interoperability. Interoperability is concerned with a network’s ability to communicate with other networks. This communication can be through different devices, system software, or applications. The connection and communication among networks happen without the user putting any effort into the communication. Interoperability allows there to be a seamless transmission of data and collaboration between different organizations.
To sum up these points into a distinct definition, interoperability is a network’s ability to seamlessly and efficiently communicate with other systems without the need for user input. Interoperability makes inter-network data transmission efficient and secure.
Why is Interoperability Important in Blockchain Networks?
Interoperability is more than just a bonus feature of AXIA. Rather, it is an important component of the network that functions to heighten the efficiency of organizations and the ease of access of the data to all stakeholders. High interoperability increases the overall efficiency of AXIA because less maintenance is required to maintain the proper functioning of the network. Furthermore, the continuous and seamless stream of communication between different devices or applications decreases the time that is needed for data processing, leading to high efficiency across organizations.
Data within the AXIA blockchain can also be shared with different types of blockchains. These could include permissioned, private, and public blockchains. Without the innovative interoperability of AXIA, the Ecosystem would be more difficult to navigate, it would take longer to process data, and organizations would benefit less because of lower levels of efficiency. This is why high interoperability is a top priority of the AXIA Ecosystem.
The Architecture of the AXIA Network
AXIA is based on a unique architecture that is specifically designed to perpetuate cross-network interoperability. There are three main parts of the network architecture: AXIA CoreChain, AllyChains, and Bridges. All three of these components are necessary for ensuring an efficient connection between devices, software, and applications. AXIA CoreChain is the name of the primary blockchain in the system. The AXIA CoreChain is responsible for maintaining the security of the AllyChains as well as transmitting other features to them. AllyChains receive data from the AXIA CoreChain. These blockchains are specific to each application. Through their native tokens, each individual AllyChain remains constantly connected to the main AXIA CoreChain. The AXIA CoreChain and the AllyChains are in continuous communication with one another. Thirdly, within the architecture of the AXIA network, there are Bridges. These Bridges make communication with other blockchains possible by literally forming a “bridge,” or connection pathway, between the AXIA blockchain and other networks. The interoperability of AXIA is possible because of the smooth functioning of the bridges. The AXIA CoreChain, AllyChains, and Bridges work in harmony to allow data processing and transmission across networks.
AXIA Proof-of-Participation Roles
Another function of the AXIA Network that ensures high interoperability as well as blockchain security is Proof-of-Participation (PoP). This is AXIA’s more efficient and secure version of the commonly used Proof-of-Stake (PoS). There are three roles responsible for ensuring PoP. First, there are Validators. Essentially, Validators are in charge of validating transaction proofs within AXIA. Validators stake AXIA Coins from the AXIA Capital Bank and then validate the proof of transactions. This keeps the blockchain secure. As a reward for their efforts, Validators are given AXIA Coins for each block that is validated within the blockchain. Another PoP role is Nominators. These users help increase the security of the network by nominating the best Validators to validate the transaction proofs. By doing this, Nominators help to make the AXIA Network more decentralized. This increases the ease of access to the network as well as makes it more transparent for its stakeholders. Collators are the third and final role in AXIA PoP. Collators maintain the functioning and security of the AllyChains. This is accomplished by running nodes on the AXIA CoreChain and the respective AllyChains connected to the CoreChain. The Collators complete transactions and send the proof of transactions to the Validators in charge of designing the blocks on the AllyChain.
The three separate PoP roles are critical for the interoperability of the AXIA Network. Validators author the blocks in the AllyChains. Nominators select the most trustworthy Validators. Collators run nodes on the CoreChain and send proofs to the Validators. This circular system continually makes the AXIA Network more decentralized and secure. No other form of digital currency has yet to match the innovative interoperability of AXIA.