Monday, August 16, 2021

From atomic swaps to smart contract functionalities and interactions across blockchains


The co-founder of IOTA anticipates cooperation as well as a 'bridge' to the Cardano blockchain. According to Dominik Schiener, co-founder of the IOTA Foundation,  one of the foundation's objectives for the next year would be to build bridges to Ethereum and other ecosystems.  Regarding the potential of creating a migration tool during phase 2, given that IOHK is presently happening for Cardano bridge, it was a phase of the design with Pantos and the Technical University of Vienna.T the IOTA Foundation, Pantos, announced the inauguration of a Christian Doppler Center for Blockchain / DLT Re study, which will take place at the end of November. One of the research's objectives is to improve interoperability across various DLT systems. The scope of the study should include everything from atomic swaps to smart contract functionalities and interactions across blockchains.

Cardano bridges to IOTA

Non-fungible tokens (NFTs) have one of the characteristics that may be found in a cryptographic asset that is not fungible. To be fungible, a cryptocurrency such as a cryptocurrency, Cardano must be interchangeable with the other units and in offering and must maintain their value even if they have been tampered with. Unlike NFTs, which are all identical tokens, NFTs have specific characteristics that distinguish them from one another. On the surface, a non-financial token (NFT) is cryptographic evidence of ownership of any digital property that all the NFT is linked with. Digital pictures, movies, and music are examples of tangible assets, but there are also more abstract assets such as intellectual property, digital licenses, and insurance policies that may be acquired. The kind of NFT you have will determine whether you may freely sell the tokens on an internet marketplace or move the token to another person's wallet.

Jack Dorsey, the CEO of Twitter, who converted his first ever tweet into such an NFT that sold for nearly $ 3 million. However, the implications of these one-time statements are far-reaching. For example, content producers might create limited editions of NFTs commemorating their most memorable moments in his online careers, or they could mass manufacture NFTs in quantity at a cheaper cost and sell them to their followers at a discount.

Finally, they will be able to create unique digital art to complement their regular content offerings. This not only provides an extra source of revenue, but it also has the potential to broaden the outreach of the content producer within the digital arts community.


Author: verified_user