Living in a multiple blockchain world

Abstract

This paper explores the technical and social reasons why multiple blockchains have emerged. It describes payments use cases for multiple blockchains, and it discusses how blockchains are being evaluated and trade-offs that need to be made when choosing one blockchain over another for a given use case. While blockchain regulation develops, the evolution of cryptocurrencies provides insight into how people and organisations will work with multiple blockchains in future. The paper examines the gaps in blockchains today and the ways to address interoperability and other challenges. As blockchains continue to evolve, blockchain development plans and future blockchains address privacy and scalability concerns. These technical gains need to continue to be complemented by industry collaboration and standards development.