Wanchain announces a partnership with Cardano-backed Input Output to promote interoperability. The collaboration will help the network facilitate interoperability between Cardano mainnet, sidechains, and other blockchains.
It will also enable other projects to deploy non-custodial, decentralized, multi-directional crosschain bridges interlinking Cardano to other L1 networks. Moreover, the integration will also upgrade Wanchain bridge nodes to peg the Cardano and Wanchain networks, securing the crosschain bridges and transactions.
In simple terms, Wanchain is soon to become an EVM-compatible Cardano sidechain. As a sustainable L1 proof-of-stake blockchain and interoperability platform, Wanchain proposes multiple use-cases to the industry. It acts as an Ethereum-like infrastructure that supports dApps, Ethereum tools, and other protocols.
Its bridges are direct, decentralized, and non-custodial, connecting non-EVM and EVM networks without intermediary networks or relay chains. In addition, the bridges use Shamir’s Secret Sharing and sMPC (Secure Multiparty Computation to secure crosschain assets.
Currently, these bridges connect over 15 L1 and L2 networks. The network will offer numerous new use-cases to ADA holders on external chains with the latest addition, which will pave the path for ETH, BTC, XRP, WAN, DOT, and similar tokens used in Cardano’s dApp ecosystem.
Once Wanchain transforms into Cardano’s EVM-compatible sidechain, dApp users and developers on Cardano will gain access to frameworks, integrated developer structures, and coding languages. This method maximizes Cardano’s security while also doubling its scalability and interoperability.
Moreover, it will allow Cardano to conduct transactions outside its network while only recording information needed on the L1 blockchain, further elevating its immutability and security.
The quick growth of Cardano sidechains marks the start of a new for the network, as it turns into a complete multi-chain ecosystem with increased scalability and security. However, according to the officials from both networks, the recent integration is only the start of collaborations between Input Output and Wanchain.