Cardano’s Strategic Partnerships: Insights and Progress
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Cardano’s Collaboration with Ripple and Chainlink
In a recent “ask-me-anything” session, Charles Hoskinson, the visionary behind Cardano, shed light on two pivotal alliances that have piqued the community’s interest: a multifaceted partnership with Ripple’s XRP ecosystem and an oracle integration with Chainlink. These collaborations have been the subject of much speculation and anticipation.
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Advancements in XRP Integration
Hoskinson expressed optimism about the progress of the Ripple collaboration. He outlined a strategic plan that includes integrating native wallet support, facilitating token distribution, and exploring new roles for Ripple’s upcoming RLUSD stablecoin. “We’re adding XRP support for Lace,” he announced, referring to IOG’s premier light wallet introduced last year, which will now allow XRP users to store their tokens securely.
Moreover, XRP will play a role in the Midnight airdrop, as announced by Input Output Global. This development highlights the growing synergy between Cardano and Ripple, with discussions ongoing about incorporating RLUSD into Cardano’s infrastructure. The momentum is attributed to the strong rapport between Hoskinson and Ripple’s technical team. “David Schwarz invited me to speak at one of their conferences, and our relationship is excellent,” Hoskinson shared. The collaboration has even expanded to include the Flare Network, demonstrating the broadening scope of this partnership within the XRP Ledger ecosystem.
Challenges in Chainlink Integration
Conversely, the partnership with Chainlink presents more challenges. Although Hoskinson maintains a positive relationship with Chainlink’s co-founder, Sergey Nazarov, the collaboration’s progress remains elusive. Chainlink is currently undergoing a transition to a new integration framework, likened to Coinbase’s Rosetta, making it difficult to predict the timeline for completion. “It’s always just three to six months away,” Hoskinson remarked.
The delays are not due to political or financial issues, but rather the complexity of Chainlink’s evolving codebase. “They have a legacy system and are moving to a new one, making it hard to forecast what the integration entails,” Hoskinson explained. Despite increasing resources to expedite the process, the integration remains unfinished, leaving Cardano in a state of anticipation for Chainlink’s next-generation tools to stabilize.
Nonetheless, Hoskinson remains committed to making Chainlink a leading oracle on Cardano, even as other networks like Pyth and Flare present viable alternatives. He lightheartedly noted the similarities between himself and Nazarov, emphasizing the cordial nature of their collaboration.
At the time of writing, ADA, Cardano’s native cryptocurrency, is valued at $0.72.
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