• Cardano (ADA) and Cosmos are partnering up to bring a new sidechain to the Cardano network.
• World Mobile and Input Output Global are collaborating to bridge the digital divide using the Cardano blockchain.
• The new sidechain project is designed to bring scalability to blockchains and meet the requirements of a regulated telecommunications industry.
The cryptocurrency Cardano (ADA) is receiving a major boost with the newly announced partnership between its parent company Input Output Global (IOG) and World Mobile. This partnership will create a new sidechain on the Cardano network, powered by Cosmos’ SDK, that will provide scalability and interoperability to the blockchain.
The two companies have been working together for the past three years to bridge the digital divide using the Cardano blockchain. This new sidechain will give Cardano the scalability it needs to meet the requirements of a regulated telecommunications industry. Micky Watkins, CEO of World Mobile Group, noted that “World Mobile needed a permissioned sidechain to meet the requirements of a regulated telecommunications industry. Since such a solution doesn’t yet exist within the Cardano ecosystem, we decided we’d look at how we would be able to achieve this. ….”
At the moment, the Cardano network is trading at about $0.379528, with a gain of approximately 45 percent in the past 30 days. This new sidechain project is expected to further increase ADA’s price as it offers scalability and interoperability to the blockchain.
The Cardano-Cosmos partnership is expected to bring a variety of benefits to the Cardano network. This sidechain project will provide a secure and reliable network for developers to build decentralized applications and protocols, as well as enable smart contracts and other features. Additionally, this sidechain will enable users to transfer value between the Cardano and Cosmos networks, allowing users to benefit from the scalability and interoperability of both networks.
Overall, this is an exciting development for the Cardano network, as this new sidechain project will bring scalability and interoperability to the blockchain. With these features, Cardano will be able to meet the requirements of a regulated telecommunications industry and provide users with a secure and reliable platform to build decentralized applications. This partnership is sure to have a positive effect on the price of ADA, and we are looking forward to seeing the results.