Cardano (ADA) and Nervos (CKB) said they plan to enable interoperability on their platforms within the next six weeks.
Cardano (ADA) and Nervos (CKB) said they plan to enable interoperability on their platforms in the next six weeks. According to the development team behind Cardano, this bridge will further the industry’s possibilities to explore Nerveos and IOHK.
The two companies said in their press release that the launch is important because it connects two ecosystems that are worth billions of dollars in market capitalization.
Mousebelt, a blockchain accelerator, has been commissioned to develop the technology with funding from Nervos. The Cardano team will also commit to expertise and diverse resources to connect to the network.
As it is known, Force Bridge will allow users to transact with the local currencies of Nervos or Cardano (CKB and ADA) interchangeably. In addition, according to the information received, participants will be able to create their own wrapped tokens on both chains.
The bridge is expected to reduce the burden of users having different wallets to access features from both networks, while lowering transaction costs for both platforms in cryptocurrencies. The companies said it will allow developers on both chains to access services and features to expand their decentralized apps and user bases.
Romain Pellerin, CTO of IOHK, used the following statements on the subject:
“We believe that blockchain technology will only gain general acceptance when users are not locked into a blockchain or standard.
Bridges like this are an absolute necessity to ensure users have a seamless experience.”