Summary
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Cardano Pursues Key Blockchain Integrations: Founder Charles Hoskinson announced Cardano is actively working on integrations with major crypto networks including Dogecoin, Chainlink, and Bitcoin to enhance its ecosystem and expand its functionalities.
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Bitcoin & Chainlink Integrations Advanced, Dogecoin in Early Discussions: Cardano’s integration with Bitcoin through BitcoinOS and Lace wallet is progressing, and Chainlink integration is under development, while discussions with Dogecoin are in early exploratory phases to determine viable collaborations.
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Strategic Benefits: Interoperability & Expanded Ecosystem: These integrations aim to tap into the liquidity and user bases of larger ecosystems, enhancing Cardano’s DeFi capabilities, increasing interoperability across blockchains, and broadening the overall reach and utility of the Cardano network.
Charles Hoskinson, the founder of Cardano, has disclosed that significant steps are underway to foster interoperability between Cardano and other prominent blockchain networks, including Dogecoin, Chainlink, and Bitcoin.
These initiatives are aimed at broadening Cardano’s ecosystem reach and unlocking new possibilities for its applications.
In a recent discussion with Gokhshtein Media, Hoskinson revealed that progress is being made in conversations with Sergey Nazarov, a co-founder of Chainlink, regarding integration. He clarified that while discussions are positive, achieving full integration is a complex process requiring time to overcome technical hurdles.
Expanding Horizons: Cardano’s Integration Drive with Major Blockchains
Hoskinson recounted his conversation, stating, “Just last night, I was speaking with Sergey Nazarov from Chainlink… I inquired about the potential of integrating Chainlink with Cardano. He confirmed that it’s actively being explored by their team alongside Cardano developers, although he noted that Cardano’s architecture presents unique challenges, suggesting the integration process will be extended.”
It appears Chainlink‘s development efforts are geared towards creating a more versatile Oracle solution applicable to a wider range of DeFi applications based on the UTXO model, rather than solely focusing on Cardano.
This collaboration, therefore, has a broader scope, aiming to serve the entire UTXO-based ecosystem, which encompasses Bitcoin, Litecoin, and Dogecoin in addition to Cardano.
Hoskinson also highlighted Cardano’s advancements in connecting with the Bitcoin network. Cardano has been actively developing its integration with Bitcoin through the BitcoinOS project.
BitcoinOS facilitates trustless transfers of BTC via the BOS Grail Bridge.
This endeavor is strategically designed to tap into Bitcoin’s massive $1.7 trillion market capitalization and inject its established liquidity into Cardano’s DeFi functionalities.
The objective is to bolster interoperability, enhance scalability, and accelerate broader adoption across both ecosystems.
Furthermore, Cardano’s Lace wallet now incorporates Bitcoin support, providing users with a streamlined platform for managing assets across multiple blockchains.
Expanding on potential collaborations, Hoskinson alluded to preliminary discussions with the Dogecoin community, although he indicated these conversations are at a very early stage.
“They appear receptive and interested… but we’re still in the process of defining a mutually beneficial integration strategy,” he commented.
While specifics remain vague, incorporating Dogecoin into the Cardano framework could amplify liquidity and extend Dogecoin’s utility beyond basic transactions.
Dogecoin’s characteristics, such as low transaction costs and rapid processing times, have already led to its widespread use for payments, online tipping, and microtransactions.
Notable corporations like Tesla and Newegg have adopted Dogecoin as an accepted payment method for purchases.
The interview also touched upon the broader context of Bitcoin’s emerging role as a potential national strategic reserve asset.
Hoskinson noted that there are discussions among U.S. policymakers, including figures like Senator Cynthia Lummis and former President Donald Trump, about potentially including Bitcoin in national reserve holdings. He acknowledged that concrete plans remain unclear.
Addressing rumors about Cardano’s native token, ADA, possibly being included in national reserves, Hoskinson shared an anecdote: “I woke up to a barrage of messages—around 150—congratulating me, claiming ADA had surged 70% and was now part of the reserve.
My reaction was surprise and slight confusion, as I had no prior knowledge of such developments.”
Key features of Cardano include its efficient UTXO-based transaction processing, which achieves finality in approximately 20 to 40 seconds.
The base layer of the Cardano network boasts a transaction throughput of around 250 transactions per second (TPS), and ongoing scalability solutions like Hydra aim to dramatically increase this to a million TPS.
As of recent data, Cardano has successfully processed over 110 million transactions, with average transaction fees remaining below 25 cents.
Also Read: Together, Ripple and Chainlink transform DeFi with RLUSD
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