Wanchain announces new partnership with Cardano to bring interoperability and continue to advance crypto adoption across industries. Covered: Wanchain And Cardano Partnership Significance Of The Partnership Wanchain And Cardano Partnership Today, Wanchain announced that it had partnered with the development team behind the Cardano ($ADA) ecosystem, Input Output HK. #Wanchain and Cardano’s @InputOutputHK are collaborating […] The post Interoperability Is Coming To Cardano Via Wanchain appeared first on CryptosRus.

Interoperability Is Coming To Cardano Via Wanchain

Wanchain announces new partnership with Cardano to bring interoperability and continue to advance crypto adoption across industries.

Covered:

  • Wanchain And Cardano Partnership
  • Significance Of The Partnership

Wanchain And Cardano Partnership

Today, Wanchain announced that it had partnered with the development team behind the Cardano ($ADA) ecosystem, Input Output HK.

This partnership is a multifaceted collaboration that will begin with the joint development of decentralized, non-custodial bridges that connect Cardano to other Layer 1 blockchains such as Ethereum and Avalanche.

The two projects will then work towards establishing Wanchain as an Ethereum-Virtual Machine-supporting sidechain parallel to Cardano’s mainnet. This will provide many opportunities to bring numerous EVM dApps and assets into the Cardano ecosystem. Dynal Patel, Chief Product Officer of Input Output  Global said:

“Wanchain will provide added utility to the Cardano community, allowing users to interact with DeFi applications on a number of networks, and take advantage of the expanding ecosystem.”

Although Wanchain is also a layer-1 blockchain like Cardano, they are not competitors as Wanchain is solely designed to support cross-chain transactions and bring interoperability to other chains. Not only does it facilitate transactions between chains, but its own layer one blockchain is used as a ledger that processes and records all cross-chain transactions.

Essentially, Wanchain is a unique type of bridge that connects EVM and non-EVM networks without the use of relay chains or intermediary networks. The Wanchain network currently connects more than fifteen layer-1 and layer-2 networks.

Significance Of The Partnership

The partnership and Wanchain’s transition into an EVM-compatible sidechain to Cardano is very beneficial to Cardano dApp developers. It allows them to gain exposure to more coding languages and allows users to access structures and an inclusive developer community.

Additionally, this will enhance the security of Cardano’s interoperability solution and also serve as a scalability solution as well. Users will be able to transact away and from within the Cardano ecosystem.

This partnership may set up a new phase for Cardano by introducing a new sidechain approach. The Cardano ecosystem could go in the direction of a fully-fledged multi-chain ecosystem that would feature more security and scalability. Lastly, this may be one of many collaborations to come for Wanchain and Cardano.

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