On September 27th, the Cardano (ADA) blockchain implemented its first cross-chain bridge, enabling interoperability with a second blockchain using Nervos (CKB) protocol. The bridge allows Cardano (ADA) users to send and receive Ada and Nervos (CKB) tokens on the same wallet. From the perspective of a user, the bridge allows them to send Ada using Ada, or Nervos (CKB) with Nervos (CKB), both in a secure, verifiable, and compliant way.
IOHK, the Cardano Foundation, Nervos, and Input Output Hong Kong (IOHK) announced the creation of the Cardano blockchain interoperability bridge, which uses a trusted multi-party computation (TMC) mechanism to allow one blockchain to interoperate with another. The bridge allows users to trade and store their ADA tokens on Nervos without the need to trust a centralized custodian.
IOHK, the Cardano Research, Development and Community, part of the Cardano Foundation, announces the development of the first cross-chain bridge between Nervos (CKB), Cardano’s blockchain infrastructure, and IOHK’s blockchain infrastructure, Ethereum (ETH). Because these two blockchains differ from one another in terms of decentralization, privacy and scalability, this bridge allows Cardano and Ethereum users to easily convert Ada to and from Ethereum and Cardano dollars (ADA).Nervos, a Chinese public blockchain, and IOHK, a global blockchain engineering and development company focused on the Cardano blockchain, today announced the creation of a cross-chain bridge to connect the Cardano and Nervos networks.
First bridge Cardano
This is Cardano’s first inter-chain bridge, connecting two multi-billion dollar ecosystems. This bridge contributes to Nervo and Cardano’s shared goal of finding a Bluetooth moment in the blockchain industry where users will have a seamless experience with blockchain networks, regardless of the blockchain they are using. This bridge will allow users to conduct interchangeable transactions with Nervo’s and Cardano’s own currencies (CKB and ADA, respectively), as well as create their own tokens on both blockchains through a technique called token wrapping. In addition, developers can access the services and features of both networks to expand their decentralized applications (dApps) and user bases. Through this gateway, developers using the Nervos platform will have access to the leading IOHK solution for Cardano tokens, as well as DeFi applications built around the Plutus smart contract and other functionality provided by Cardano sidechains and state channels. The gateway also allows users to create assets that fully utilize Cardano’s proprietary currency, ADA, giving projects access to the highest levels of blockchain speed and security in the market without prohibitive costs.
This is the latest project in an existing collaboration between Nervos and IOHK. The two public blockchain ecosystems announced in December that they would jointly write research papers on improvements to the UTXO model and future open-source developments, and explore the possibility of creating a universal standard for the settlement method. We believe that blockchain technology will only be widely adopted when end users are not tied to one blockchain or standard, but can seamlessly access value and utility no matter which blockchain they use. Therefore, gateways like this are absolutely essential for a seamless user experience, said Romain Pellerin, CTO of IOHK. He added: By bringing our communities together and finding new and innovative ways to work together, as we are doing with Nervos, we can ensure that blockchain delivers on its promise to create a fairer and more efficient global financial operating system.
Interaction betweenand Nervos
To ensure interoperability between the Nervos network and the broader blockchain ecosystem, Nervos has three key components that make up Universal Passport, Nervos’ next-generation interoperability solution. These components include PW Core, a market-leading SDK that allows developers to create applications that are accessible to all chains; Polyjuice, an Ethereum-enabled layer that allows developers to easily port smart contracts from Ethereum to Nervos; and Force Bridge, a trustless bridge that enables seamless cross-chain transactions between Nervos and other chains. Force Bridge is used to connect to Cardano, allowing users to conduct cross-chain transactions between networks using their existing wallets. Mousebelt, a full-service blockchain accelerator, will build the bridge with financial support in the form of a grant from Nervos. The Cardano team will provide expertise and resources to connect Cardano to the bridge. Work has already begun and the bridge should be completed within the next six weeks.
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Nervos will be the first project to use their new cross-chain bridge, which allows anyone to easily move their Ada assets between their Ada wallet and the Cardano main net. This is a significant milestone for Cardano as it increases the number of projects building on the network, creating more demand and usage. Nervos is a natural fit for Cardano as the project focuses on building secure, private and scalable blockchain technology.. Read more about how much ether has been staked and let us know what you think.
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