Crypto: Polkadot and Cardano (ADA) Sign Historic Partnership!

To bury the hatchet and join forces for better interoperability between Layer 1 blockchains – that’s the aim of Polkadot and Cardano in this strategic alliance. Both are known as “Ethereum Killers” and issue the DOT and ADA crypto respectively. Thanks to their initiative, the partner chains will prosper. Close-up!

Polkadot supported by Cardano

How do Polkadot, issuer of the DOT crypto, and Cardano, promoter of the ADA, plan to consolidate their place in the dynamic world of blockchains? By joining forces, for one thing.

If the latest news is anything to go by, Ethereum’s two rivals have just established a partnership aimed at the conquest and development of Web 3.0 as a whole.

1/ Cardano will use Substrate, the foundation of the Polkadot SDK, to build out its “partner chain” project — showcasing Substrate's potential to expand across Web3, and its ease of use for other chains and ecosystems 🛠️

— Polkadot (@Polkadot) November 6, 2023

In a recent publication, U°Today focused on an “Exciting Cardano-related announcement” based on the Twitter thread above. From this publication, you’ll no doubt have learned of Cardano’s intention to use Substrate, the basis of Polkadot’s SDK, to give a boost to its “partner chain” project.

As a reminder, Substrate is the base SDK for this blockchain, which developers rely on to build parachains orbiting the Polkadot network. This makes it possible to build self-sovereign blockchains that can evolve independently of Polkadot, which has been dubbed the “blockchain of blockchains”.

Polygon’s “Avail” project is a case in point.

How can partner chains evolve with Polkadot’s SDK? The use of a modular framework and existing components will facilitate this evolution without abandoning the CDC for inter-chain settlement. As the icing on the cake, Cardano (ADA) alone guarantees security, liquidity and reliability.

All the more reason to deploy new blockchains such as Midnight, a Web3 data protection project recently unveiled by Input Output Global.

Cardano’s crypto is doing very well

Last Friday, we analyzed the evolution of Cardano’s native cryptocurrency. At the time, ADA had gained +30% in value and even managed a 36% rise in market capitalization. The crypto currency was trading at $0.317 due to bullish momentum in ADA address activity.

Cardano whale moves also gave a boost to this 9th largest cryptocurrency in terms of market cap.

Note that, at the time of writing, ADA has climbed again: $0.352 per coin, up 22.2% over 7 days and 40% over one month.

If this unique interoperable blockchain project, and other innovations in the pipeline such as Hydra, are successful, ADA’s bullish trend will be maintained.