Learn Concept: Embracing Web3 and Multichain Technologies for Future Film Making

By: Eliza Bennet

The dynamic phenomenon of Web3 is reshaping industries globally, including film making and decentralized networks. As emphasized by independent filmmaker Miguel Faus during the recent NFT-funded film "Calladita" premiere, Web3 has substantive implications for the future of independent filmmaking. Furthermore, it has been suggested that a trust-less multichain approach to Web3 can help alleviate certain issues in the prevailing blockchain sphere, such as fragmentation and complex integrations.(source)

In an environment with numerous protocols at play, developers are often faced with the predicament of deciding between launching on a single chain or integrating several at the risk of complexity and potential vulnerabilities. These factors can hinder collective progress and curb wider propagation of blockchain technologies. To mitigate these issues, direct integrations can essentially bridge Web3 gaps, thereby enhancing the capabilities of each chain beyond their initial designs and fostering more efficient innovation.

While the multichain approach does have its challenges, like prolonged transaction times and escalating fees, a decentralized solution offers the potential to effectively transmit value and data across multiple protocols. It reduces the dependency for developers to fully apprehend each chain or manage the associated fees. This is where chain key cryptography comes into play - facilitating a single network to transact on other chains and in turn, providing developers and users with a wider scope to experiment, gain access to multiple chain tokens and drive broader public adoption of Web3 and blockchain technologies.