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One of the biggest problems nowadays is the inability for different blockchains to communicate with each other, also known as lack of interoperability. Blockchains operate only within their own ecosystem.
That applies to both private(permissioned) and public (permissionless) blockchains. This limits the consumers to choose only one blockchain for their needs. They can’t choose the best of what each blockchain has to offer.
Other significant issues that stay in the way of wider integration of blockchain technology are- scalability, interoperability, multi-network deployment for dAPPs, existing legacy systems and more. OneLedger offers a solution for these problems by creating a technological bridge that connects different blockchains, giving the consumers a more complete and optimal experience. This will help with the adoption and integration of blockchain technology in various business applications and products.
OneLedger is a cross-ledger agnostic protocol that enables high-performance scaling using a sharded and modified practical Byzantine Fault Tolerant consensus scheme.
The OneLedger architecture relies on two core principles: 1) Side chains and 2) business modularization. OneLedger defines a three-layer consensus protocol to enable more effective integration of different blockchain applications.