Cardano Partners with Multi-Billion Blockchain, Nervos to Launch First Interoperability Feature
Cardano partners with Nervos to create the first multi-billion cross chain between the two blockchains. Released this Tuesday, the partnership marks the first-ever cross-chain feature on Cardano, the sixth-largest blockchain in market capitalization.
After a successful launch of its smart contracts, Cardano is adding interoperability features to its blockchain to enhance seamless transactions across different blockchains. IOHK, the main development arm of Cardano, is partnering with Nervos network, a multi-billion dollar blockchain, to introduce cross-chain bridges connecting the two platforms labeled the “Force Bridge” in the coming two months.
The partnership with Nervos opens up Cardano to billions of dollars in transactions on Nervos, pushing closer the goal of having a wide network of blockchain interoperability across the industry. Additionally, the partnership allows users to transfer native tokens (CKB and ADA) across the chains seamlessly – further enhancing the DeFi ecosystems.
Apart from interchangeably transferring assets across the two blockchains, users will also be able to create new “user-defined” tokens that connect across the blockchains. Romain Pellerin, CTO at the IOHK, believes interoperable blockchains present the channel to future innovations that allow users to “seamlessly access value and utility, regardless of which blockchain they are using,” he said in a statement.
“As a result, bridges like this are an absolute necessity in order to ensure that users have a seamless experience.”
“By connecting our communities and finding innovative new ways to work together, as we have been doing with Nervos, we can ensure that blockchain lives up to its promises of creating a fairer and more efficient global financial operating system.”
Furthermore, developers across both chains will be able to interact with dApps across the blockchains, improving the services and features available to users.
The statement further confirms Mousebelt, a full-service blockchain accelerator, will build the bridge. Mousebelt will receive monetary grants from Nervos and the IOHK and gain mentorship from the IOHK team.