Cross-chain platform Wanchain has one goal. Blockchain interoperability. And it’s been hitting lots of its goals in the past few months. Wanchain has released several products to this end and also expanded its cross-chain bridge to different ecosystems, with the latest being Cardano.
Wanchain announced today that it has successfully deployed the Cardano bridges, which connect the Cardano mainnet to prominent networks such as BNB Chain, Arbitrum, Avalanche, Tron, Astar, Polygon, Bitcoin, Ethereum, Optimism, and others.
Wanchain’s Cardano Bridges, powered by decentralized, non-custodial, bi-directional cross-chain bridges, offer increased network interoperability and a massive inflow of new assets and liquidity.
Wanchain Opens Up New Possibilities in Web3
The new Cardano bridge will also help promote interoperability, allowing ADA and other native Cardano tokens and all ERC20 tokens and other major assets to flow effortlessly between Cardano, EVM-based networks, and some non-EVM networks.
Wanchain’s major quest has been to advance interoperability and create new opportunities in Web3. When blockchain networks can interact effectively, the possibilities are often limitless, and that’s what Wanchain’s Cardano bridges offer.
As mentioned earlier, the Cardano Bridges will allow ADA and other native Cardano tokens to be used on Web3 apps on EVM-compatible networks. This opens up new possibilities for both developers and users.
Additionally, the new bridge also makes it possible to move ADA, BTC, ETH, USDC, USDT, and WAN to Cardano. As of now, USDT and USDC are the first fiat-backed stablecoins to be made available on the Cardano mainnet.
Wanchain Opens a New Path to the Cardano Mainnet
Reacting to today’s news, Temujin Louie, Wanchain VP of Marketing, said in a statement: “The Cardano Bridges offers users unprecedented access to diverse assets and applications present on other blockchain networks.”
Louie added that “Wanchain’s industry-leading interoperability solutions spark innovation by enabling developers to build sophisticated, cross-chain applications that leverage the unique strengths of Cardano.”
The Cardano Bridge is yet another huge achievement in Wanchain’s effort to build a connected digital space. It also reflects the skill and dedication of the Wanchain team. Cardano fundamentally differs from most networks, which makes it difficult to connect it to public chains.
But the Wanchain team had to fully develop Haskell smart contracts that support cross-chain transactions. They also updated the Wanchain Bridge Nodes so they could create UTXO transactions to call Cardano smart contracts. UTXO is the same type of transaction that Bitcoin generates.
Wanchain also worked with Input Output to coordinate internal efforts to offer native support for a Schnorr signature and Secp256k1 curve to Cardano to make the necessary improvements.
The Cardano Bridges have successfully linked the Cardano mainnet to Wanchain’s wide-area network of public blockchains. So, all of Wanchain’s forthcoming interoperability solutions, including its scheduled decentralized general message-passing platform, will also be available on Cardano.
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours.We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Wanchain.Copyright Altcoin Buzz Pte Ltd.
