In his latest video for his YouTube channel, Cardano IOHK creator and CEO Charles Hoskinson provided an update on a potential collaboration with IOTA. In addition, it shares its expectations for 2021 in terms of interoperability. It evokes the key factor to create a bridge between two blockchains.
A bridge between Cardano and Litecoin
First, Hoskinson provided an update on the collaboration with the Litecoin Foundation. At the end of 2020, David Schwartz and Hoskinson, director of the Litecoin Foundation discuss this Litecoin. Cardano could implement the “velvet fork” in conjunction with non-interactive proof of work. This range would allow changes to be made. Users can voluntarily choose to adopt or ignore.
Giving an update, Hoskinson now states that Litecoin is a cryptocurrency that does not embrace change quickly. That’s why there is no big news yet. However, he described it as a “feature, not a bug”. In the coming months, both sides will be carrying out tests.
For this reason, Hoskinson is optimistic about the implementation of the NiPoPoW proposal, although it may take some time to gain support. If successful, other networks with similar consensus mechanisms could implement it, such as Zcash and Dash.
About possible cooperation with IOTA
IOTA co-founder Dominik Schiener hopes to implement something similar for IOTA, as the inventor of Cardano explained. As reported by CNF, Schiener recently contacted Hoskinson. The two have already held a meeting soon to discuss details of building a bridge between the networks.
Hoskinson, however, clarified that they first need to see if there is a protocol that allows for interoperability and if there is sufficient community support.
As explained in more detail, the IOHK will focus more on interoperability in the first and second quarters of 2021. Within this time frame, the IOHK will review the development of the IOTA Foundation regarding IOTA 2.0. Currently, the developers are working on components for the deployment of the second phase of Chrysalis known as IOTA 1.5 which will allow them to evolve to Coordicide. Hoskinson admitted that he did not know the details of these advancements, but considers the Internet of Things (IoT) to be an “interesting field.”
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