The Cardano Foundation and Injective have announced the connection of their networks via IBC. The integration is currently live between Cardano Preprod and Injective Testnet, allowing the transfer of test $ADA between the two ecosystems.
IBC (Inter-Blockchain Communication) is a protocol that allows independent blockchains to exchange assets and verified data. In the current implementation, test $ADA are locked in the Cardano network, and an equivalent IBC token is minted in Injective. When transferred back, this token is burned, and the $ADA are unlocked in Cardano.
Cardano is a blockchain focused on smart contracts and decentralized applications, while Injective is a network built for financial applications and markets. In the future, such a connection could allow the use of Cardano assets in supported applications, markets, and liquidity protocols on Injective.
Image: Magnific
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