122 days ago • cryptodaily
Cardano Ecosystem Sees Massive Interoperability Boost with Wanchain’s WanBridge Solution
Amidst great news on Bitcoin ETFs and stabilizing prices market-wide, a new addition arrives to the Cardano ecosystem that may be worth a look. Via a recent press release, Wanchain has successfully launched its WanBridge on Cardano, which looks set to boost interoperability between the Cardano ecosystem and the rest of the crypto market.
The first #USDC has been bridged from #Arbitrum to #Cardano mainnet! @circle @jerallairePublic launch #comingsoon to the industry's most secure decentralised cross-chain bridge: https://t.co/SFaBxQwof3. #WeAreAllConnected $USDC pic.twitter.com/LRAGR7MrXS
— Wanchain (@wanchain_org) August 4, 2023
Cardano Interoperability is Finally Here
As a world first, Wanchain’s Cardano Bridges now connect the Cardano mainnet to any EVM network and a number of non-EVM networks. Seamless moving of ADA, Cardano tokens, and ERC20 tokens can be moved on the network, opening up endless possibilities, whether it be for businesses, regular crypto users, or developers.
One of the most exciting propositions of the new Wanchain Bridges is that for the first time, fiat-backed stablecoins can now be used on Cardano, and the possibilities look set to spark some inspiration in a blockchain subset that has been previously off-limits to the wider crypto sphere.
Making WanBridge Solid
As an infrastructure builder since 2017, Wanchain sees its Bridges as a milestone moment via its recent press release. Written from scratch using Haskell smart contracts needed to support cross-chain activity, WanBridge is able to interact with Cardano-based smart contracts from outside of the network via the construction of UTXO transactions. Additionally, there is now functionality for Schnorr signature and Secp256k1 curve, which enhances the authenticity and integrity of the bridge function tenfold.
With Bitcoin, Ethereum, Arbitrum, Astar, Avalanche, BNB Chain, Optimism, Polygon, Tron, and other prominent public networks now available to communicate with Cardano smart contracts, it’s going to be a wild ride seeing what comes next from the community and market at large with this powerful new tool.
Increased liquidity for the Cardano ecosystem and access to Cardano’s powerful suite of tools within other ecosystems is going to be a game changer and we’ll be keeping our ears to the ground for further developments. The bridges are already open for use, and further information can be viewed via the WanBridge site.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.