Wanchain is working to improve Cardano’s interoperability and make it easier to transfer assets between the blockchain and others.
Wanchain announced earlier today that it had partnered with Input Output, the development team behind the Cardano ecosystem. The partnership centres on enabling interoperability between the Cardano mainnet, Cardano sidechains and other blockchain networks.
According to the press release shared with Coinjournal, the two teams will deploy decentralised, non-custodial, bi-directional cross-chain bridges connecting Cardano to other Layer 1 blockchains to boost Cardano’s interoperability functions.
In addition to this, Wanchain bridge nodes would be upgraded to peg the Wanchain and Cardano networks to further secure Cardano’s cross-chain bridges and transactions. This implies that Wanchain will now become an Ethereum Virtual Machine (EVM)-compatible sidechain to Cardano.
Li Ni, VP of Business Development and Operations at Wanchain, said this latest development is important for Wanchain. Ni said;
“We are excited to support Input Output’s work in building this Cardano interoperability solution. We believe in the importance of decentralisation and have a clear vision of a future where the global blockchain landscape behaves as a beautiful, singular, interoperable network. This is another important step in that direction.”
Wanchain becoming an EVM-compatible sidechain to Cardano will enable Cardano dApp developers to users to access more coding languages, frameworks and integrated developer environments.
The approach is also expected to improve Cardano’s security and provide scalability solutions to the blockchain. Dynal Patel, Chief Product Officer of Input Output Global said;
“Wanchain will provide added utility to the Cardano community, allowing users to interact with DeFi applications on a number of networks, and take advantage of the expanding ecosystem.”
Wanchain bridges connect more than 15 Layer-1 and Layer-2 networks. Hence, the partnership connects the Cardano network to other decentralised finance (DeFi) and Web3 ecosystems. Thus, increasing the use cases for ADA holders and enabling the use of BTC, ETH, DOT, WAN, XRP and other coins in Cardano’s dApp ecosystem.