Industry commentators believe that blockchain technology needs an open communication standard, similar to TCP/IP, to enable a complete transition from Web2 to Web3. The standard would enable a fully interoperable blockchain ecosystem, analogous to the internet's connection protocol, and pave the way for a seamless, internet-like experience for blockchain platforms and their applications. Blockchain interoperability is particularly crucial for financial institutions looking to tokenize real-world assets (RWA) since it would ensure that liquidity isn't stifled by existing in a siloed ecosystem. Cross-chain bridges, independent layer 2 sidechains, and oracles are the most commonly used blockchain interoperability solutions, but security remains a challenge. Incorporating interoperability within the platform would result in a more secure end-to-end transaction than through third-party bridges. (Cointelegraph)