Cardano hard fork will increase interoperability with Bitcoin, Ethereum and others

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The Cardano hard-fork event in February to increase Cardano’s interoperability with Bitcoin, Ethereum and other blockchains. ADA might react optimistically to the upcoming update.

The next Cardano update will tentatively take place on February 14, 2023. The hard-fork would bring new functions built into Plutus, the smart contract programming language for the Cardano blockchain. This new upgrade will bring support for ECDSA and Schnorr cryptographic signatures to make it easier for developers to create cross-chain applications.

There will be another hard-fork event in February. CIP-0049 will increase #Cardano’s interoperability with #Bitcoin, #Ethereum and other blockchains. Plutus developers can write an application capable of verifying ECDSA and Schnorr cryptographic signatures.

— Cardano YODA (@JaromirTesar) January 26, 2023

The two cryptographic signature techniques, ECDSA and Schnorr signatures, are used by several blockchains. Among which are the Bitcoin and Ethereum blockchains.

However, Cardano uses the fast, secure and compact Edwards Curve Digital Signature Algorithm (EdDSA). But, this signature is incompatible with the ECDSA and Schnorr signatures.

The Cardano upgrade will make it easier for developers to collaborate with other blockchains by improving interoperability and enabling secure cross-chain DApp development.

Both ECDSA and Schnorr signatures will be supported by brand new integrated features that Plutus will offer. Enable programmers to easily create cross-chain applications and ensure the highest level of security.

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The whole Cardano ecosystem has been preparing for some time, with successful integration tests.

With over 80% of block-producing nodes running the new node needed, this technology is almost ready to be implemented on the Cardano mainnet. The incoming change has already been communicated to exchanges and DApps developers have been interviewed to ensure compatibility. The update is expected to happen on February 14, 2023.

The Cardano Community Foundation will keep the community informed of new developments ahead of the tentative date. You can follow the Cardano CF channels for the latest information.

How will ADA react to the upgrade?

ADA is the native token of the Cardano ecosystem. It is a reflection of the economic activities, perception, acceptance and valuation of the Cardano ecosystem. ADA as a token is heavily influenced by fundamentals, of which the upcoming hard-fork is a part.

Cardano had its major Vasil hard-fork in September 2022. Amid bullish expectations from investors and traders to “sell the news,” ADA fell rather than appreciated. It dropped 9.5% a few days after the successful upgrade. He was further impacted by news from the Fed which was trading at $0.43 at the time.

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It is unknown if ADA will react positively, but the upgrade brings many positive changes to the Cardano ecosystem.

Right now, the market sentiment towards Cardano’s CIP-0049 is sending a strong bullish bias. The interoperability and ease of development it adds to Plutus, Cardano’s smart contract programming language, is a major upgrade. Cardano is doing everything in its power to preserve the long-term value and utility of its blockchain and token.

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