Cardano has made the most exciting announcement of establishing the cross-chain bridge to connect the networks of Nervos and Cardano. It will be the foremost cross-chain bridge of Cardano that is powered to execute transactions of billions of dollars. The bridge is also for the enablement of Blockchain inter-operability.
The cross-chain bridge shall allow every user to employ the native cryptocurrencies of Cardano and Nervos interchangeably. It will also be possible for the users to create User-defined customized tokens across the Blockchains of Nervos and Cardano with the help of the cross-chain bridge. Both of the layers of Nervos shall offer access to the $ADA token to be used with the DeFi applications of the two networks. Moreover, the cross-chain bridge shall allow developers to employ the Blockchains of Nervos and Cardano to gain access to features and services to expand the suite of dApps and the user base.
The complete establishment of the cross-chain bridge is a significant milestone for the networks of Nervos and Cardano as the bridge will help develop solutions for the support of multi-chain applications through connection with other Blockchains. The formation of a completely interoperable Blockchain technology ecosystem will help cut down on transaction costs by doing away with Ethereum gas fees.
At present, the cross-chain bridge is being developed by Mousebelt. The renowned full-service Blockchain accelerator has secured funds from Nervos for the financial support of the cross-chain bridge development work. On the other hand, Cardano has provided substantial resources and the necessary expertise to Mousebelt to develop the cross-chain bridge. It is expected that the bridge shall become accessible within the coming six weeks. The CTO of IOHK, Romain Pellerin, believes that the cross-chain bridge shall encourage mainstream adoption of Blockchain by providing users with access to value and utilities within the efficient operating system of global finance.