As an experienced blockchain analyst, I’m thrilled to see the Cardano Foundation taking a significant step forward in enhancing interoperability by integrating the Inter-Blockchain Communication (IBC) protocol. This move is a game-changer for developers building Ethereum Virtual Machine (EVM)-based applications on Cardano sidechains, making it easier to work across different blockchains without requiring direct communication between them.
The Cardano Foundation, the charitable group overseeing the widely used proof-of-stake blockchain, has enhanced its connectivity by incorporating the Inter-Blockchain Communication (IBC) protocol.
As a crypto investor, I’m excited about the latest development that allows for smoother implementation of Ethereum Virtual Machine (EVM) applications on the Cardano sidechain. This integration simplifies the process for developers and expands the potential use cases for Cardano.
As a researcher studying interoperability between various blockchains, I’d describe it this way: Since its inception in 2019 by Cosmos Network, the standardized protocol I work with has enabled seamless data exchange between heterogeneous blockchains. This is accomplished through specialized information channels, allowing for effortless transfer of data between blockchains that operate under diverse consensus mechanisms. Remarkably, no need arises for direct communication between these blockchains to authenticate the accuracy of specific information.
By embracing IBC (Inter-Blockchain Communication) on Cardano, businesses can leverage its deterministic fees and additional perks while collaborating with other chains. According to the Cardano Foundation, this integration enables the creation of scalable, secure, and interoperable blockchain projects.
A governance controversy
Recently, the foundation’s voting choice this past week sparked quite a bit of debate and controversy.
In the interim before two stages of a hard fork are fully implemented, the foundation will join an Interim Constitutional Committee (ICC) as a participant.
The Cardano Atlantic Council has previously participated in the ICC elections, earning the highest rankings due to considerations like candidate engagement, technical proficiency, and transparency during the voting process.
As a crypto investor in Cardano, I can understand why some community members are expressing concerns about the Cardano Foundation’s involvement in the ICC (Input Output Global Council) voting process. Personally, I believe it’s important for transparency and fairness that the foundation stays impartial in the decision-making process. One user voiced their opinion, stating “I think it’s wrong for the Cardano Foundation to put their thumb on the scales.”
Read More
- BTC PREDICTION. BTC cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- USD PHP PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- GLM PREDICTION. GLM cryptocurrency
- USD COP PREDICTION
- BCH PREDICTION. BCH cryptocurrency
- USD MYR PREDICTION
- PUSH PREDICTION. PUSH cryptocurrency
2024-06-27 23:24