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IOTA co-founder considers collaboration and ‘bridge’ to Cardano

  • As part of IOTA’s partnership with Pantos and TU Vienna, an ERC20 migration tool is being developed, similar to Cardano.
  • Dominik Schiener does not rule out a cooperation with Charles Hoskinson to develop a “bridge” between IOTA and Cardano.

As IOTA co-founder Dominik Schiener revealed via Discord yesterday, one focus of the IOTA Foundation for the coming year will be to develop “bridges to ETH and other ecosystems.” On the possibility of developing an ERC20 migration tool after Chrysalis phase 2, as IOHK is currently doing for Cardano, Schiener said that is part of the project with Pantos and TU Vienna.

As CNF reported, the IOTA Foundation, Pantos and TU Vienna announced the opening of the Christian Doppler Laboratory for Blockchain/DLT Research in late November. One focus of the research is to be on interoperability between different DLTs. The research areas are expected to range from atomic swaps to cross-blockchain smart contract functions and interactions.

Specifically, Schiener said of the possibility of an ERC20 converter:

That is exactly what the announcement with TU Vienna + Pantos was about
it will be a bridge that will enable any kind of ERC-20 asset to be swapped to IOTA […]

Basically an ERC-20 token can be easily transferred to IOTA and then be represented either within a smart contract or as a tokenized asset that’s what a bridge would do.

The implementation will be possible with the IOTA smart contracts, as Dominik Schiener also revealed. According to the current IOTA roadmap, the functionality is supposed to be released in a first alpha version by March 2021.

A “bridge” between IOTA and Cardano?

In terms of interoperability with other blockchain projects than Ethereum, another Discord user asked if the IOTA Foundation is interested in developing a “bridge to Cardano.” According to the user, it would be “a good investment of resources” since Cardano follows similar principles, like research before development.

Schiener did not rule out this option and said he would contact Charles Hoskinson, Cardano’s inventor and CEO of IOHK, in due course:

Yeh 100%. Once we’re ready I’ll reach out to Charles again, maybe we can reunite in some way again haha.

I know Charles since 2012. He was the one that originally invited me to join the Crypto Valley in Zug (when he was Ethereum CEO back then).

About Author

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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