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Home BREAKING NEWS

Cardano ADA Soars 20% Amidst Adoption of Polkadot Framework

by BlockNews.com Team
November 6, 2023
in BREAKING NEWS, BUSINESS, CRYPTO
Reading Time: 3 mins read
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  • Cardano partner chains allow developers to build customized blockchains that leverage Cardano’s security, liquidity, and reliability through a modular framework.
  • The partner chain framework uses Parity’s Substrate and integrates trustlessly with Cardano’s robust settlement layer. It provides flexibility through modular components called “pallets.”
  • Partner chains solve issues like interoperability, security, tokenomics, and lock-in. Cardano acts as the ultimate settlement layer while new validator models are enabled.

At the 2023 Cardano Summit, IOG founder Charles Hoskinson announced an exciting new framework for building customized partner chains that leverage Cardano‘s strengths. Partner chains will revolutionize how new blockchains are created and operated.

🚨 NEWS: Cardano to adopt Polkadot framework to forge a new 'Partner Chain' model.

This enables independent chains to work together with Cardano, bolstering its role as a settlement layer 👀$ADA is up 20% over the last week.

Are you bullish @ZssBecker? pic.twitter.com/PUdyEBL4y6

— BlockNews.com (@blocknewsdotcom) November 6, 2023

What are Partner Chains?

Partner chains will allow developers to build optimized blockchains that gain the benefits of Cardano’s security, liquidity, and reliability. This is achieved through a modular framework without being locked into any specific network or technology stack.

Partner chains further Cardano’s original vision of scalability and interoperability outlined in the “Why Cardano” whitepaper. Cardano’s separation of the Cardano Settlement Layer (CSL) and Cardano Computation Layer (CCL) enables this innovation. The robust and scalable CSL acts as the ultimate cross-chain settlement layer. Partner chains can build their own computation layer using a modular framework and existing components, while still leveraging the CSL for settlement.

The Modular Framework

The partner chain framework draws upon Parity Technologies’ open-source Substrate modular stack as a base. This is extended with trustless integration to Cardano and a set of composable Substrate components called “pallets.” This modular approach allows partner chains flexibility in implementing features like consensus protocols.

Partner chains solve key issues like interoperability, security, tokenomics, and lock-in. Cardano becomes the ultimate settlement layer. Security is provided by Cardano’s stake pool operators, while new validator models are enabled by the Minotaur protocol. The Babel fees system solves tokenomics issues while compensating stake pool operators in ADA. Trustless bridges connect partner chains for seamless interoperability.

The Future of Blockchains

Partner chains represent a new decentralized, interoperable blockchain future powered by Cardano. This innovative framework will enable customized blockchains that inherit Cardano’s strengths. Stay tuned as IOG continues developing and implementing this technology.

Tags: ADABusinessCardanocryptoCrypto Exchange
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