'Omnichain dApps: a new crypto primitive' interoperability blockchain
: “Omni” means of all things so, in this context, omnichain describes something that spans multiple and/or all chains and functions across those chains seamlessly. Accordingly, an ‘omnichain dApp’ or ‘odApp’ has access to and can manage assets and data on any or all connected networks .In this section, we’ll briefly walk through the new primitives each blockchain pioneer introduces and the current state of today’s multichain ecosystem. Reference figure 1 below.
Ethereum defines a virtual machine that provides a Turing-complete sandbox environment for smart contracts. In recent years, we’ve seen a proliferation of new L1 blockchains such as Polkadot, Solana, Avalanche, and Cosmos, all of which support nearly Turing-complete smart contracts. Each provides tradeoffs in the. Despite greater optionality made possible by multichain, users are left with highly fragmented apps across which they are unable to easily move liquidity. This is because blockchains are inherently closed by design, and it’s complicated for developers to deploy and maintain apps across them.