IOTA Co-Founder Dominik Considers a Partnership to Bridge Cardano (ADA)
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The IOTA Foundation is placing primary focus on developing bridges to ETH and other ecosystems. IOTA co-founder Dominik Schiener revealed their aim through Discord on 30th December 2020.

Regarding the possibility of developing a post-phase 2 ERC-20 migration tool from Chrysalis, as IOHK is doing for Cardano, Schiener said that this is part of a project with Pantos and TU Vienna.

Read Also: IOTA to Unleash A fully Decentralized P2P Payment System with No Transaction Fees –IOTA Co-Founder

Pantos and TU Vienna Project

In late November, the IOTA Foundation (IF) announced that it had joined the new Christian Doppler Laboratory, Blockchain Technologies for the Internet of Things (CDL-BOT), as an industrial partner.

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Based at the Institute of Information Systems Technology at Vienna University of Technology, the research group examines DLT interoperability, DLT interfaces to the Internet of Things, and developer support.

The laboratory started operating on the same day, led by Dr. Margarethe Schramböck, at a digital conference, was in attendance by IOTA co-founder Dominik Schiener.

Schiener stated that the TU Vienna + Pantos announcement was about bridging, enabling all ERC-20 assets to be swapped to IOTA. ERC-20 tokens can be easily transferred to IOTA and then presented as part of a smart contract or a token investment. It will bridge the gap.

Read Also: Cardano (ADA) Will Ascend As the Best Cryptocurrency This Year –Charles Hoskinson

Its implementation will be possible with the smart contract from IOTA, as stated by Dominik Schiener. According to the current IOTA roadmap, IOTA will release the first alpha version’s functionality in March 2021.

A Bridge between IOTA and Cardano?

Regarding IOTA’s interoperability with blockchain projects other than Ethereum, another Discord user questioned the IOTA Foundation. He asked whether IOTA was interested in developing a bridge to Cardano. In consumers’ opinion, this would be a good investment in resources because Cardano follows the same principles as research before development.

Schiener did not rule out that option and said he would contact Charles Hoskinson, Cardano founder and CEO of IOHK, at the right time. He went on to say that he had known Charles since 2012. He first invited him to join Crypto Valley at Zug (when he was CEO of Ethereum at the time).

Despite the progress made by the IOTA Foundation, this project remains a grand experiment to see if it is possible to keep a ledger in which all the participants are precisely equal. Analysts are skeptical of this challenge because: It is very ambitious, but many believe it is impossible.

Read Also: IOTA Co-Founder: There Will Be So Much Progress over the Coming Weeks and Months

IOTA is expected to grow exponentially for up to 5 years and above. IOTA has established many partnerships in various industries, including automotive, manufacturing, and insurance. All the coin developments and partnerships will soon pay off, and the coin value can fly to the moon.


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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.