Cardano has been engaged on creating and increasing its ecosystem for a very long time now, with the neighborhood specializing in bridging the gaps between the market’s altcoins. The truth is, the Cardano and Litecoin foundations have for lengthy been rumored to be discussing possible cross-chain collaboration. In accordance with a current replace by Cardano’s Charles Hoskinson, preliminary conversations between the 2 have now begun.
Hoskinson informed the neighborhood in regards to the presentation he made for Litecoin Creator Charlie Lee and David Schwartz, Undertaking Director on the Litecoin Basis. The Cardano Co-founder famous,
” I consider there’s a course of the place a LIP is being written. Litecoin is a really sluggish evolving cryptocurrency- It’s one of many legacy cash… They transfer faster than Bitcoin however definitely slower than, I might say a third-generation cryptocurrency. As a part of the appeal, Litecoin is resilient to alter…So huge modifications like interoperability or different issues, they take quite a lot of time to ratify.”
Thus, the interoperability issue between Cardano and Litecoin could have to leap by means of quite a lot of hoops, earlier than changing into practical.
Over the last replace, Dionysis Zindros, a blockchain researcher on the College of Athens, had famous {that a} bridge between Cardano and Litecoin will be constructed by implementing a velvet fork to Litecoin in order that the blockchain can undertake NIPoPoWs [Non-interactive Proofs of Proof-of-Work]. NIPoPoWs are fashionable in crypto-circles, however velvet forks are but to realize prominence.
The advantages of NIPoPoWs are that they don’t require quite a bit to get and don’t require dramatic modifications to consensus or validation, as per Hoskinson. For the reason that safety stays intact with NIPoPoWs, the protocol has turn into fashionable within the crypto-verse. That is the rationale why it may be used for bridging the 2 ecosystems.
It ought to be famous, nonetheless, that Cardano-Litecoin just isn’t the one bridge being checked out. Lately, IOTA Co-founder Dominik Schiener was asked by neighborhood members about the opportunity of forming a bridge between IOTA and Cardano. In response, Scheiner had stated that he would contact Hoskinson.
Curiously, Cardano is already engaged on constructing a bridge with Ethereum by means of a brand new KEVM [K Ethereum Virtual Machine], one which might open up Cardano to ETH devs. It seems like Cardano just isn’t solely constructing new bridges, but additionally mending outdated ones as a part of its increasing ecosystem.
