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EMURGO, a key blockchain technology within the Cardano ecosystem, has entered into a strategic alliance with Zilliqa Group, a Web3 and metaverse-based venture builder. This partnership aims to enhance interoperability between the Cardano and Zilliqa blockchains, which could lead to increased efficiency, innovation, and growth within the crypto ecosystem.
Partnership Based on Mutual Benefits
A detailed press report disclosed that the EMURGO-Zilliqa collaboration is focused on interoperability and liquidity. The team effort is centered on enhancing the connectivity and functionality of both the Cardano and Zilliqa ecosystems.
These aspects combined seek to enhance the economic security of both blockchains. It is set to make them more resilient, interconnected, and scalable for the future of Web3 and decentralized governance.
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Furthermore, the collaboration aims to create a bridge between Cardano and Zilliqa, allowing assets, information, and value to flow seamlessly across the two networks. This will enable applications and users from both ecosystems to interact, fostering broader adoption of Web3 technologies.
The partnership focuses on creating interoperable liquidity channels in terms of liquidity. This means that assets from both networks can move freely within the blockchains. This is designed to increase liquidity for decentralized finance (DeFi) applications. It will also provide more resources for transactions, reduce slippage, and increase the stability of trading markets.
Zilliqa 2.0, the next major upgrade for the Zilliqa blockchain, is designed to supercharge Cadano’s performance and make the network more accessible for developers and enterprises.
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It is designed to position Cardano as a key player in the broader Web3 space by facilitating quicker, more scalable interactions between multiple blockchains.
Empowering the Cardano through Community-led Governance
In this partnership, community participation plays a vital role in shaping Cardano’s decentralized governance. Zilliqa Group has joined Intersect, a community-driven organization focused on Cardano’s governance.
This inclusion will allow Zilliqa, who launched a gaming console in 2022, to actively contribute to decision-making processes and policies shaping Cardano’s ecosystem’s future. By involving the Zilliqa community, the alliance will promote a more distributed and inclusive governance model that reflects the broader Web3 ethos of decentralization.
Cardano Blockchain Records Massive Growth
Impressively, Cardano’s blockchain has seen exponential growth. It now boasts 1,373 active projects, 1.33 million wallets, and 10.36 million tokens. Additionally, it has 165,546 active token policies, ensuring good governance and control over assets on its network.
Earlier this month, the layer-1 blockchain ushered in the “Voltaire Era” with the launch of Chang hard fork, a community-led governance. Shortly after, Cardano joined efforts with Hedera and Ripple to form a Decentralized Recovery (DeRec) Alliance. This was established to simplify the recovery of digital assets through an open-source protocol.
