A representative from Unifires, an ecosystem focused on promoting interoperability and collaboration within blockchain technology, shared an interesting announcement on the Polkadot (DOT) forum.
He announced that efforts are underway to develop a lightweight client and non-fungible token (NFT) swap bridge between the Cardano (ADA) and Polkadot network. The proposal has already been submitted to Cardano and there are plans to submit a similar proposal to OpenGov, Polkadot’s decentralized governing body.
Positive impact
A swap bridge is a technology that allows cryptocurrencies and other assets, such as NFTs, to be swapped or transferred between different blockchain networks. This improves interoperability and collaboration between two networks.
This allows users to take advantage of the unique features and services that each network offers, such as decentralized applications (dApps) and smart contracts. This interoperability also opens up new development opportunities for developers, significantly increasing the potential for innovation and growth within both blockchain ecosystems.
Both networks were founded by Ethereum (ETH) co-founders Gavin Wood and Charles Hoskinson and have seen significant technical development and user growth since their inception. These efforts are expected to improve the usability of both blockchains, especially with major upgrades coming soon.
SnowBridge
On June 20, another bridge was activated on the Polkadot network: SnowBridge. This new bridge connects Polkadot and Ethereum. The first version supports ERC20 token transfers between the networks without intermediaries, thanks to a trustless mechanism that ensures the security and integrity of the assets.
In addition to the current functionality, there are plans for future expansions, such as a new liquidity program to promote the adoption of both networks. Multiple parachains and wallets will provide integration and support for SnowBridge.
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Source: https://newsbit.nl/unifires-kondigt-ontwikkeling-aan-van-nft-swap-brug-tussen-cardano-en-polkadot/
