Cardano Will Develop Its Partner Chain On Polkadot's Substrate

Input Output Global, also known as IOG, shared information about how partner network projects are migrating to Cardano through Substrate. The Polkadot SDK makes it easier for others to use the chain, demonstrating its potential for expansion within Web3. IOG described its partner as modular, open source and with a proven track record. In addition, Substrate will help Cardano expand the ability of developers to create stand-alone blockchains that operate independently on the network.

Charles HOSKINSON, founder and CEO of IOG, attended the Cardano 2023 Summit where he laid out a new framework for developers and validators. IOG stressed that this development is the culmination of research and development carried out over the past four years, further recognizing engineers and academics around the world. Each member of the ecosystem should have partner chains because they contribute to solving existing problems. Partner chains implement a variety of solutions including, but not limited to, security, interoperability, and tokenomics.

It is important to note that the performance of ADA, Cardano’s native token, has increased slightly over the past 24 hours. The recent announcement can be considered an important factor implying the expansion of the ecosystem. At the time of writing, ADA is trading at $0.3569, up 4.82% over the past 24 hours. This also reflects an increase of 18.61% over the past 7 days. It is estimated that ADA could reach a high of $0.88 by the end of this year.