Two cryptocurrencies with combined market capitalizations in the billions of dollars will soon allow users the ability to freely transact across their two separate blockchains.
Cardano, whose cryptocurrency ADA ranks fourth in total valuation, is working with Nervos, the creators of CKB, to create a cross-chain Force Bridge which will allow the two native cryptocurrencies to be used on their platform. This will reduce transaction costs for users and simplify the user experience by allowing a single wallet to access features from both networks.
The release is anticipated to come in six weeks’ time. Once completed and implemented, this new combined ecosystem will be a big step forward for Nervos’ vision to create a seamless experience for blockchain users. Only this, they say, will allow blockchain technology to achieve mainstream acceptance.
Nervos, true to their name, seeks to become the “nervous system” of a future crypto-driven economy. They see the current state of blockchains as analogous to the early Internet applications, which lived on segregated networks needing different ways to access and interact. And just as the Internet adopted common protocols, so too will blockchains in due time.
This is not the first joint effort between Cardano and Nervos, and does not look to be the last. The two companies previously worked together to improve smart contract security; if everything goes smoothly, they plan to collaborate on more projects in the future.