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06/26/2024

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Polkadot-Cardano bridge development sparks community excitement

Polkadot-Cardano bridge development sparks community excitement 35 mins ago · 2 min read Polkadot's ecosystem recently welcomed SnowBridge, a bridge connecting it to Ethereum blockchain network. 2...

Polkadot-Cardano bridge development sparks community excitement

Polkadot-Cardano bridge development sparks community excitement Polkadot-Cardano bridge development sparks community excitement 35 mins ago · 2 min read

Polkadot's ecosystem recently welcomed SnowBridge, a bridge connecting it to Ethereum blockchain network.

2 min read

Updated: Jun. 26, 2024 at 8:11 pm UTC

Polkadot-Cardano bridge development sparks community excitement

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Polkadot community members are debating the feasibility of a bridge that would link the network to Cardano.

Felix, an agent from the Unifires ecosystem, shared on the Polkadot Forum that efforts are underway to develop a Cardano-Polkadot light client and NFT swap bridge. He mentioned that the proposal has already been submitted to Cardano, and there are plans to submit a similar one to Polkadot’s decentralized governance body, OpenGov.

He said the proposal would help fund a project that would greatly benefit both ecosystems. Blockchain bridges allow users to transfer assets between networks, addressing the interoperability challenges associated with the broader crypto industry.

Both networks, founded by Ethereum co-founders Gavin Wood and Charles Hoskinson, have seen substantial technical development and user growth since their inception. This latest interoperability effort is expected to enhance the utility of both blockchains, especially with upcoming major upgrades set to transform their ecosystems.

The initial community reaction to the proposal has been supportive overall, with Polkadot Head Ambassador Tommi Enenkel, popularly known as Alice and Bob, offering his view on how the bridge could be built. He stated:

“For the Polkadot->Cardano direction, I believe the most straightforward approach would be to verify Beefy proofs on a contract on Cardano L1.”

SnowBridge launches trustless Polkadot-Ethereum bridge

Meanwhile, this development comes on the heels of SnowBridge activating the Polkadot-Ethereum bridge on June 20.

SnowBridge relies on first-party signatures from Polkadot and Ethereum validators, making the process transparent, permissionless, and auditable. The first version of the bridge will enable ERC20 asset transfers between the two networks, and multiple parachains and wallets are expected to integrate and support it.

The bridge protocol is also expected to increase interactions and introduce new assets from Ethereum to the Polkadot ecosystem. In the future, SnowBridge plans to enable arbitrary messaging and potentially launch a liquidity program.

Disclaimer: CryptoSlate has received a grant from the Polkadot Foundation to produce content about the Polkadot ecosystem. While the Foundation supports our coverage, we maintain full editorial independence and control over the content we publish.

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