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Cardano Ecosystem

Crypto News Flash (EN)

06/27/2024

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Cardano and Polkadot to Potentially Link via New Bridge

The Polkadot community is actively considering a bridge to link with Cardano. The initial community reaction to the Cardano-Polkadot bridge proposal has been supportive. Members of the Polkadot community...

Cardano and Polkadot to Potentially Link via New Bridge
  • The Polkadot community is actively considering a bridge to link with Cardano.
  • The initial community reaction to the Cardano-Polkadot bridge proposal has been supportive.

Members of the Polkadot community are fervently debating whether a bridge connecting the Polkadot network to Cardano is feasible. This conversation is part of a larger attempt to improve the interoperability of the crypto industry.

Significant progress is being made toward creating a Cardano-Polkadot light client and NFT swap bridge, claims Felix, an agent from the Unifires ecosystem.

Proposal Development and Submission

Felix announced on the Polkadot Forum that a proposal for this bridge has already been sent to Cardano and that a comparable one will soon be sent to OpenGov, Polkadot’s decentralized governance organization.

The plan seeks to raise money for a project that will solve the interoperability issues that are common in the cryptocurrency sector and help both ecosystems significantly.

With blockchain bridges, such as the one put out, users can move assets between networks. Taking care of interoperability issues in the larger cryptocurrency sector depends on this capabilities.

Since their founding, Polkadot and Cardano—both created by Ethereum co-founders Gavin Wood and Charles Hoskinson—have seen tremendous technical advancement and user expansion. Given the imminent significant enhancements, the suggested bridge should increase the usefulness of both blockchains even further.

The Polkadot Community Response and Technical Insights

The Polkadot community has responded initially mostly favorably. As Alice and Bob, Polkadot Head Ambassador Tommi Enenkel provided advice on how the bridge might be built. The most direct method, he said, for the Polkadot-to-Cardano path would be to confirm Beefy proofs on a contract on Cardano’s Layer 1.

As per CoinMarketCap data, DOT is currently trading at about $5.71, down 1.26% over the last 24 hours. The price of ADA, however, has dropped by 2.52% over the same time frame to about $0.379.

Previously, CNF highlighted how actively the Polkadot community participates in governance, citing 91 referendums conducted in May, of which 56 were passed and 22 were not. This degree of involvement shows how excited the community is about OpenGov.


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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

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