Cardano (ADA) Breaks New Ground in Cross-Chain Compatibility

ADA CRYPTO_NEWS

Ergo, a smart contract platform, has announced that the user interface (UI) to Rosen Bridge has been enabled, allowing public cross-chain liquidity transfers between Ergo and Cardano for an initial subset of assets: ADA, ERG, RSN, SigUSD and SigRSV.

This move marks the beginning of the interoperability era for Ergo and Cardano, with more bridges and assets expected in the coming days.

In November, Ergo announced the launch of the Rosen Bridge to Cardano. RosenLite is the first release phase of the Ergo-centric Rosen Bridge, which allows for the bridging of tokens between different blockchains.

Currently, the Rosen bridge is deployed to enable native token swaps between Ergo and Cardano, but the road map includes ambitions to facilitate bridges to Ethereum, Bitcoin, Dogecoin and Binance Smart Chain.

Cardano has developed tremendously in both technical development and user adoption since its inception in 2015 and formal launch in 2017, with a growing ecosystem of users, dApps, wallets, developers and more. The latest interoperability move is expected to boost Cardano and Ergo's blockchain utility.

Cardano's interoperability drive


At the start of 2023, Cardano builder IOG launched a toolkit for developing custom sidechains on Cardano.

Other CIP proposals and open-source tools are being developed on GitHub to make Cardano a much more interoperable ecosystem, primarily with EVM-based products and services.

Cardano has become more interoperable thanks to partnerships with Wanchain and Maestro, which will help to further connect Cardano and grow TVL for Cardano DeFi apps.

Builders such as Paima Studios are developing solutions to make gaming more interoperable and to broaden Cardano's ecosystem by allowing games on other blockchain platforms to migrate to Cardano without transferring assets.

Source : U Today / Dec 31, 2023

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.