In a new video by IOHK CEO Charles Hoskinson, he revealed the company’s efforts to increase Cardano ‘s interoperability with Ethereum Classic, Litecoin, Bitcoin Cash, among others. If you continue to use this site we will assume that you are happy with it. Cardano's path to Interoperability, starting with Litecoin's potential Velvet Fork. For Cardano, IOTA would be a good entry point into the IoT (Internet of Things) sector to be able to be integrated and used in this area as well, since there are so many dedicated devices and in the future, they will be even smarter and more interconnected. Komodo KMD. More than 90% Off, Bitcoin Hit a New Record High. Schwartz says that Charles Hoskinson, creator of Cardano, invited Litecoin creator Charlie Lee to collaborate on blockchain interoperability in July. 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Cardano has been working on developing and expanding its ecosystem for a long time now, with the community focusing on bridging the gaps between the market’s altcoins. I love the idea of testing cross chain communication between Litecoin and Cardano. Stay updated on all the news concerning cryptocurrencies and the whole world of ICO. to be able to be integrated and used in this area as well, since there are so many dedicated devices and in the future, they will be even smarter and more interconnected. This was announced on Twitter The Cardano Report , which reports on a hypothesis proposed by the Litecoin Foundation’s project director, David Schwartz , … It is not yet certain that Litecoin will go forward with these plans. In his recent video, Mr. Hoskinson explained the differences between the IOTA and Litecoin communities, teasing meaningful interoperability releases. Hoskinson originally wrote on Twitter: @SatoshiLite it would be great to do something together. For this reason, it will … Everything will also depend on the development and update of IOTA that is happening in this period and that will lead to the creation of IOTA 2.0. This fork will not be mandatory for users but only optional. — The Cardano Report™ (@_Cardano_ADA) November 29, 2020. Hoskinson himself says he is positive that this kind of system can be implemented on other blockchains that use a similar consensus system, such as Zcash and Dash. He added that Cardano’s local wallet, Daedalus, will become a multi-coin tool that integrates other blockchains like Litecoin, Ethereum Classic or … https://en.cryptonomist.ch/2021/01/05/cardano-interoperability-litecoin-iota On November 17th join The Litecoin Foundation and Dionysis from IOHK discuss the potential for a Velvet Fork on Litecoin. The year 2021 will certainly be a very busy year for Cardano, just like for the above-mentioned blockchains, leading to technological innovations never seen before. Bitcoin is being locked away in cold storage thanks to institutions MASSIVELY WITHDRAWING over half a billion dollars with of BTC. who is behind the development of the Cardano blockchain, we learn some details regarding, Interoperability between Litecoin and Cardano, Cardano has been working with the Litecoin Foundation for some time as both, and Hoskinson had discussed the implementation of a “Velvet Fork” and the creation of the. $24,255,846. Possible introduction of a velvet fork could create a bridge between Cardano (ADA) and Litecoin (LTC) blockchain. IOHK and IOTA Foundation will explore if there is a protocol that allows the construction of a bridge between their networks. This would involve exploring the possibility of adding interoperability between the blockchains of Cardano and Litecoin, as having a bridge between them would benefit both the two blockchains involved and probably the entire cryptocurrency sector. Hoskinson originally wrote on Twitter: @SatoshiLite it would be great to do something together. Everything will also depend on the development and update of IOTA that is happening in this period and that will lead to the creation of. During the latest Litening Series webinar, the heads of the Litecoin Foundation explored the idea of introducing interoperability between Cardano and Litecoin. Only then will the development and analysis for interoperability with Cardano start to see the feasibility of the idea and how it can be implemented. (Non Interactive Proof of Work). Litecoin (LTC) and smart contract platform Cardano (ADA) are exploring a “Velvet Fork” partnership that will unlock new features in the 10th largest cryptocurrency such as cross-chain communications, smart … Input Output intends to focus on interoperability with the Cardano blockchain during the 1st and 2nd quarters of 2021, and will explore bridges with Litecoin & IOTA, however - "If the community does not support it, it is not worth anyone’s time to pursue an implementation because it would be void." With this kind of interoperability, Best DeFi & NFT investment opportunity, TimeCoin(TMCN) , Special Sales! Ticker: H2O, According to Charles Hoskinson, CEO of Input Output Global, building interoperability with the Cardano blockchain is about collaboration, and must have community support of the project to be successful. Research has begun to verify the feasibility of interoperability between the Cardano blockchain and that of Litecoin. During the last update, Dionysis Zindros, a blockchain researcher at the University of Athens, had noted that a bridge between Cardano and Litecoin can be built by implementing a velvet fork to Litecoin so that the blockchain can adopt NIPoPoWs [Non-interactive … and thus connect with Cardano, but in this case it is not sure whether it is possible and whether there is really a demand for this feature from the IOTA community. This will be enabled by intelligent clients, which are still under development. Thus, the interoperability factor between Cardano and Litecoin may have to jump through a lot of hoops, before becoming functional. For Cardano, IOTA would be a good entry point into. Both ADA and LTC have seen a considerable price increase during the new rally. In fact, the Cardano and Litecoin foundations have for long been rumored to be discussing probable cross-chain collaboration. Cardano has allocated a cross-chain communication team that is trying to build a network that will allow people to use Hydra to send value to and from other major networks such as Bitcoin and Litecoin, to improve the interoperability between blockchains. We use cookies to make sure you can have the best experience on our site. On March 31, Cardano became a fully decentralized multi-asset protocol — a launching long-awaited by the DeFi community. If successful, other blockchain networks with similar consensus mechanisms, such as Zcash and Dash, could also implement it. Upgrade of Litecoin forward with these plans this will be beneficial to Cardano upgrade to introduce several features cross-chain! The interoperability factor between Cardano ( ADA ) and Litecoin ’ s main project is Cardano, among! Are happy with it as cross-chain fund settlement, smart contracts, and improved scalability information. 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