Blockchain is a technology that is often used to share data and assets. However, in the decentralized ecosystem, blockchain-based systems can be utilized to share information and assets without the traditional barriers associated with solo responsibility, e.g., multi-sig wallets. This paper describes an innovative approach to blockchain networks based on a non-fungible token that behaves as an account (NFTAA). The key novelty of this article is using NFTAA to leverage the unique properties of NFTs to manage your ownership better and effectively isolate them to improve the security, transparency, and even interoperability possibilities. Additionally, the account-based solution gives us the ability and flexibility to cover regular use cases such a staking and liquid equities, but also practical composability. This article offers a simple implementation, which allows developers and researcher to choose the best solution for their needs in demand of abstract representation in any use case.

The first blockchain projects were not built with interoperability in mind. This idea became more popular later as development progressed, and there was a need for the ability to share assets and messages with other blockchain networks. Some of the blockchains that were not made with an interoperability focus started realizing that it was where the future was headed and implemented interoperability that existed, or they created their own way of communicating with other networks. To this day, many protocols are being built that enhance interoperability. Blockchain interoperability refers to the ability of different blockchain systems to work together and communicate with each other. This is an important concept for the future of blockchain technology, as it enables different blockchain networks to exchange information and assets seamlessly. This paper focuses on enhancing the interoperability between Paraverse and the specific network called Polkadot. This is achieved by using the network-specific native protocol for interoperability, called XCMP. The results show that not only is ParaSpell SDK a useful contribution to the Polkadot ecosystem, but it also makes interoperable transactions easier and more user-friendly.