BlockBill : The Blockchain-Powered Paperless Billing Solution
Figure 6-2 : Bar Graph comparing TPS of various blockchains .
Interoperability refers to the ability of different blockchain networks and systems to communicate and exchange data . Blockchain interoperability allows decentralized applications ( dApps ) to interact with multiple networks , access a wider range of resources and assets , and leverage the benefits of different blockchain platforms .
NEAR blockchain has a strong focus on interoperability , which means it has the ability to communicate and share data with other blockchains and systems . NEAR ' s interoperability approach is based on creating bridges to other blockchain networks , such as Ethereum and Bitcoin , using a mechanism called " Rainbow Bridge ." This allows developers to access a wide range of assets and resources across different blockchain platforms , making it easier to build decentralized applications that can interact with multiple networks . By emphasizing interoperability , NEAR blockchain aims to create a more connected and accessible ecosystem for blockchain developers and users . This is the main reason for our choice of NEAR Blockchain .
We have implemented the Proof-Of-Concept for our product as of now . However , there is still a considerable journey ahead in making meaningful and sustained progress in a positive direction to make it a widespread successful product .
In this article , we presented the blockchain-based digital transformation of the billing ecosystem which is environmentally sustainable and gives many sought after features that are missing in
Journal of Innovation 111