BusyXChain L1+: If there was no river, there would be no need to build a bridge!
The current state of the blockchain industry is spread across multiple Layer 1 blockchains, with even more custom-built layer 2 applications and bridges.
Initially, this was an ideal solution to connect multiple L1 blockchains or layers. Recently, it became obvious that bridges are only temporary solutions. No leading blockchains are used by large-scale or global organizations. Bridges have proven to be the easiest target for hackers due to their lack of security and dependence on third parties. Sometimes, attacks are not initially destructive but continuously leak data or funds. That is even more malicious, explicitly because it’s harder to find. It often takes time to find and patch these vulnerabilities.
Another problem is third-party dependence. One of the main reasons to choose blockchain is that it is trustless with no intermediary requirements. Imagine you have a perfectly working solution connected to a partner by a bridge, and the bridge stops working. You and your partner have a completely separate network at the mercy of a third party. You would need to completely restructure your network to continue business operations. This is difficult to do and, in many cases, requires implementing an entirely new network, which is highly costly and time-consuming. In some cases, it can lead to the end of the project.
This is a risk that many international organizations would prefer to take, which is likely why they have been reluctant to implement blockchain solutions. Learn more in this article: https://medium.com/busyxchain/will-corporations-ever-adopt-blockchain-technology-a86814086cae.
The only way to convince companies to start using blockchain is to offer them a safe, user-friendly, scalable, cost-effective Layer 1+ solution. A solution that incorporates all blockchain (public-private-hybrid) types with unlimited interconnectivity between blockchains, layers, and databases, all within a layer 1 (L1+) environment. A solution providing this level of security and functionality will be desirable to traditional businesses and corporations. It will help drive mainstream adoption and would revolutionize the entire industry. A next-generation blockchain!
