Cardano Founder Updates Ripple, Chainlink And Bitcoin Partnerships

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As a seasoned crypto investor with over a decade of experience in this wild and winding blockchain world, I’ve seen my fair share of partnership announcements that never quite materialized. But here we are, still holding out hope for the potential collaboration between Cardano and Ripple. Charles Hoskinson’s latest livestream has given us a glimmer of light at the end of the tunnel, and I must admit, it’s refreshing to hear that technical conversations are underway.

During a lengthy online broadcast on December 26th, Charles Hoskinson, founder of Cardano, talked about potential collaborations with Ripple, integrating Chainlink, and connecting Bitcoin to the Cardano network. From his location in Gillette, Wyoming, Hoskinson shared fresh insights and schedules for these projects, emphasizing the importance of security measures and technical coordination among various blockchain networks.

Update On The Potential Cardano And Ripple Partnership

As a researcher, I’m excited to share that Charles Hoskinson referred to our partnership with Ripple as the “early stages.” The focus is on integrating Ripple’s robust infrastructure into our upcoming privacy-centric sidechain, Midnight. In simpler terms, we aspire to make Ripple a part of the Midnight ecosystem. My team and David Schwartz, Ripple’s CTO, have already engaged in fruitful technical discussions about how our platforms can mutually benefit from this collaboration.

According to Hoskinson, discussions are currently being held between the Midnight and Ripple groups, delving deep into technical aspects as well. We’re making an effort to gain a better understanding of how their technological setup operates.

He also referenced Cardano’s smart contract language, Marlowe, suggesting it could be of particular interest to Ripple developers. “There’s some tech we invented, in particular Marlowe, that would be tremendously useful with the Ripple ecosystem, and it would be a lot of fun to see what we can do there and also just some things in Ripple like Flare, for example, are pretty cool, pretty interesting” he explained.

Nevertheless, Hoskinson pointed out that partnership agreements need time to develop, stating “The first step was technical discussions, which we had with David [Schwartz], who’s been incredibly helpful and a valuable asset. After these initial talks, there comes the actual integration work and other tasks to be accomplished. However, overall, they’ve been cooperative to work with.

Chainlink Integration

Discussing the lack of Chainlink on the Cardano blockchain so far, Hoskinson referred back to conversations held in 2021 where both teams agreed to integrate oracle services. Although there was initial excitement, the collaboration did not ultimately come to fruition as planned.

“We talked about integration. They agreed to do it and, for a long time, I thought they had integrated on the chain,” Hoskinson said, describing how the initiative became stalled. “Where I don’t think there’s a commercial issue or an integration or technical issue, something got cross-wired […] we’ll circle back and I’ll find out what happened there.”

He reiterated Cardano’s interest in oracles—crucial infrastructure that feeds real-world data onto the blockchain—mentioning alternatives such as Charlie3 and Flare. At the same time, Hoskinson reaffirmed that no bad blood exists between the parties.

He mentioned that he is acquainted with Sergey [Nazarov], and he emphasized that the Chainlink ecosystem has consistently been welcoming towards us. He also expressed his intention to resume our conversations.

Bridging Bitcoin To Cardano

During a particularly detailed technical discussion at an AMA (Ask Me Anything), Hoskinson shared plans for incorporating Bitcoin within the Cardano system. These discussions encompass various teams investigating secure, trustless methods to connect the two platforms.

When tokens or assets transfer from one blockchain to another, it presents a potential vulnerability, as evidenced by the series of attacks on inter-blockchain protocols over time, he noted. These attacks have resulted in an estimated loss of billions of dollars.

Cardano’s founder emphasized the crucial role of secure coding practices and mathematical proofs in constructing a strong BTC–ADA connection, cautioning against hastily completing this significant project to conform with shorter market trends. Instead, the aim is to present a dependable, cryptographically robust blueprint for Bitcoin by 2025, the scheduled industry conference in May of that year.

He stated that we can’t verify its authenticity until the encryption has been proven effective. This is crucial because, if we construct something and later find out that it contains assets worth a billion dollars in Bitcoin and gets compromised, it would be disastrous.

In addition to the main group working on Input/Output (I/O) development, various community teams have been trying out methods for connecting different systems, often referred to as Bitcoin OS. Hoskinson mentioned that these simultaneous initiatives are appreciated in an open environment. However, he emphasized that his team’s primary focus is on ensuring maximum security, as he put it, “We excel at distinguishing reality from illusion and creating things that withstand the test of time.

At press time, ADA traded at $0.90.

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2024-12-27 18:42