IOTA Co-Founder Confirms Exciting Plans For Cardano

• IOTA co-founder hints that there are exciting plans to integrate IOTA and Shimmer with Cardano.

• The IOTA co-founder has been invited as one of the speakers at the upcoming Cardano Summit 2023. 

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The discussion surrounding the IOTA and Cardano partnership has been an interesting one and dates back to 2020 when IOTA co-founder Dominik Schiener hinted that he would get in touch with Cardano’s Charles Hoskinson for a possible collaboration.

A user on Discord asked if IOTA Foundation would find interest in developing a bridge to Cardano. According to this user, Cardano follows similar principles such as “research before development”, so it could be a good investment of resources. At that time, Schiener explained that they intended to expand IOTA’s interoperability with other ecosystems which include Ethereum with the development of an ERC-20 token migration tool. 

Hoskinson responded within a short time asking Schiener to send him an email to reschedule a meeting. 

A few years down the line, the IOTA co-founder has disclosed that there is an exciting plan in the pipeline to bring Cardano and IOTA/Shimmer together. This long-awaited partnership could be a huge step in transforming both ecosystems.

The Shimmer network was launched on September 28, 2022. It was designed to be a staging network for IOTA’s mainnet. This implies it “enables fast-paced, rapid innovations and EVM or Wasm-based smart contracts to be battle-tested under real-world conditions.” It ensures that IOTA’s Layer 2 smart contracts and smart contract chains, DApps, and Web3 capabilities are deployed. 

The Upcoming Cardano Summit 2023

Cardano is currently preparing for its flagship annual event, Cardano Summit 2023. According to the report, more than 100 speakers would represent all aspects of the blockchain industry. Interestingly, Dominik Schiener is one of these speakers. 

There would also be exhibition space and masterclasses. Furthermore, there would be more than 20 community-led events across the globe from Vancouver to Amsterdam, Jakarta, and Tokyo. 

Frederik Gregaard, CEO of the Cardano Foundation commented:

Cardano Summit 2023, like previous years, will be an extraordinary gathering, bringing together an exceptional lineup of visionaries, thought leaders, and innovators from the blockchain sector. Staging the summit in Dubai, which is rapidly emerging as one of the top crypto hubs in the world, ensures that we continue to deliver diverse opportunities for attendees of the Cardano Summit.

The event is expected to come off from 2 to 4 November 2023. The main stage would be the Grand Hyatt in Dubai, United Arab Emirates. According to the report, day one of the event would have sessions examining questions relating to “building operational resilience and the need for education around blockchain technology.”

This will take into consideration the importance of having robust and resilient blockchain infrastructure with another look into regulatory issues. Day two of the event would consider the conditions needed to accelerate blockchain adoption. 

IOTA’s native token MIOTA is down by 3 percent in the last seven days and is trading around $0.169335 as of press time. ADA is also down by 5.6 percent in the last seven days and trading at $0.292319. ADA is currently 90 percent down from its all-time high of $3. Depending on the reaction of the investors, the asset could make some gains when Cardano and IOTA partnership goes through. 

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