Cardano and Polkadot become on-chain partners

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Cardano and Polkadot announced a strategic partnership, marking a major milestone in the development of blockchain interoperability and scalability. The collaboration between these two leading blockchain platforms is said to have far-reaching implications for the Web3 space.

exist tweet Recently, Polkadot highlighted the scope of this relationship:

“Cardano will use Substrate, the foundation of the Polkadot SDK, to build a “partner chain” project, demonstrating Substrate’s potential to scale on Web3 and its ease of use for other chains and ecosystems.

Input Output Global (IOG), the organization behind the development of ADA, has expressed special interest in Substrate. In a statement, they called Substrate a “proven open source modular framework” and announced their intention to contribute a set of composable pallets to expand its scope. The move not only underlines IOG’s strategy but also the shared ethos and technological admiration of the two entities.

imagine belong Cardano on the connected blockchain world

become one postal In an in-depth blog post, IOG clearly spelled out the vision behind integrating partner chains in the ecosystem:

“At this week’s Cardano Summit 2023, IOG founder and CEO Charles Hoskinson outlined a new framework that will provide developers and validators with new ways to leverage Cardano’s core power and some exciting features. Excited about new technology to build your own chain of optimized partners.”

Explaining the reason for the move, Hoskinson said:

“Partner Chain will revolutionize the way new blockchains are launched and operated by combining modular blockchain technology with Cardano’s proven security, liquidity and reliability. Chain Partners will realize these benefits, without being limited by any network or technology stack.”

Cardano’s design separates the Cardano Settlement Layer (CSL) from the Cardano Computational Layer (CCL), which is the foundation of its architecture.

“CSL has proven to be powerful and scalable, forming the ultimate cross-chain payment processing layer. Through partner chains, networks will be able to leverage existing module frameworks and components to build their own computing layer, but still leverage CSL to solve Cross-chain issues,” Hoskinson explained.

Hoskinson highlighted the synergies between the two platforms, further stating:

“Adopting Substrate’s modular approach will allow partner chains to implement any consensus protocol, meeting Minotaur’s requirement for partner chains to leverage a specific combination of resources to reach consensus.” As such, Substrate’s open source code is highly complementary to Cardano’s system, in line with Our shared vision for an interoperable blockchain world. “

The first blockchain to implement the framework will be Midnight, which focuses on IOG data protection. This approach allows any consensus protocol to be implemented according to the requirements of the Minotaur project, allowing partner chains to customize the combined resources for their consensus protocols.

This partnership is a strategic combination of Cardano and Polkadot’s vision of a connected blockchain world. It addresses key challenges in the blockchain space, including interoperability, security, token economics, and vendor lock-in.

Security will be guaranteed by the Stake Pool Operator (SPO), and the Minotaur multi-resource consensus protocol will allow validators from different blockchain ecosystems to jointly bid. Babel fees are expected to solve the token economic challenges of the new network and facilitate ADA compensation for SPO. Additionally, a trustless bridge is expected to connect partner chains with Cardano, enabling seamless interoperability.

As of the time of writing, ADA is trading at $0.345.

cardano

Source: TradingView.com

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