All networks are keen on attaining interoperability, which is crucial to their growth. In this light, Bitcoin developer and FluidTokens CTO elraulito took to X to announce the latest breakthrough in blockchain interoperability.
He revealed a seamless Plutus V3-based smart contract bridge between Bitcoin (BTC) and Cardano (ADA) applications.
Cardano-Bitcoin Bridge Comes With Multiple Features
This bridge will allow Bitcoin users to send ADA, manage, or stake them on any Cardano pool without additional software or wallet. elraulito further explained that the smart contract was built using tools and protocols.
It leverages a Cardano smart contract language known as Aiken and CIP69, which enhances the address’s programmability.
In addition, the smart contract has a multi-validator responsible for facilitating transactions, delegations, and reward withdrawals.
MeshJS manages off-chain transactions. The bridge employs Mesh, an open-source library that supports Web3 app development. This currently offers one of the few Plutus V3-compatible implementations.
The developer is confident that these capabilities may extend to the Ethereum Virtual Machine (EVM) chain, further broadening Cardano’s functionality.
Cardano Founder And Community Reacts to Interoperability Innovation
Charles Hoskinson, Cardano founder, expressed surprise at the innovation and its capacity to usher in a new phase of cross-chain connectivity.
It also generated questions from the crypto community on X, with most of them showing interest in understanding the mechanics and applications of the new bridge. Another set was more interested in the validation process.
Hoskinson is a core advocate for sound technology and is likely impressed by the latest developments. His interest and commitment are evident in his dedication to positioning the Cardano protocol for long-term success. For a very long time, the Cardano team worked on implementing the Chang Hard Fork upgrade.
This move was a key step toward achieving complete decentralization and community-driven governance. Completing the upgrade meant that Cardano had entered the Voltaire era, in which ADA holders gained the power to directly influence the decisions that would shape the network’s future.
After several delays, including one caused by a lack of preparedness from major exchanges like Binance, the upgrade was later implemented at the beginning of September.
Cardano automatically became one of the first major blockchain networks to implement a token-based governance system. The Chang Hard Fork upgrade led to a comparison between Cardano and Bitcoin.
Hoskinson highlighted that the upgrade puts Cardano above Bitcoin in matters of decentralization. He described it as a “governance virus” that is self-replicating, self-sustaining, and unstoppable. He also lauded Cardano’s growth and resilience, citing that they are unparalleled and further expansion is inevitable.
ADA Price Demonstrates Improvement
Immediately after the Chang Hard Fork upgrade, the ADA price did not show signs of a bull run, which was disappointing. The crypto asset experienced strong selling pressure and dropped significantly.
It fell as low as $0.3281, dropping its market cap under $12 billion. However, some improvements have been made in the last few days.
ADA traded at $0.3569 at this writing, corresponding to a 1.69% surge in 24 hours and 7.82% in the past 7 days. According to the latest data, its market cap is approximately $12.8 billion.
