Polkadot-Cardano bridge development sparks community excitement

cyptouser5 months agoCryptocurrencies News68
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.

Mentioned in this article
Polkadot Ethereum Cardano
The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Trump vows to make US a Bitcoin mining powerhouse if re-elected

Former US President Donald Trump has shifted his attention to Bitcoin miners in his drive towards em...

How low can BTC price go? Bitcoin analysis points to $45K

How low can BTC price go? Bitcoin analysis points to $45K

25cc9d4a˃Bitcoin (BTC) can dip much lower and still preserve its bull market and historical track re...

Bitcoin accumulation sees slowdown amid August market downturn

Bitcoin accumulation sees slowdown amid August market downturn

The Accumulation Trend Score, created by Glassnode, offers a detailed breakdown of the cryptocu...

Bitcoin whale 'FOMO' hits as BTC price coils below $67K liquidity zone

Bitcoin whale 'FOMO' hits as BTC price coils below $67K liquidity zone

1205f261˃Bitcoin (BTC) kept up pressure on key resistance into April 24 as research showed whales “b...

Access Protocol taps Solana's Actions and Blinks for streamlined user experience

Solana Labs, the company behind the Solana blockchain, has partnered with communications startup Dia...

Bitfinex issues tokenized debt for El Salvador's first hotel funded via blockchain

Bitfinex Securities is issuing a tokenized debt offering to fund the construction of a new Hampton b...