The co-founder of IOTA has hinted at exciting plans to integrate IOTA and Shimmer with Cardano. The co-founder has been invited to speak at the upcoming Cardano Summit 2023. The discussion around the partnership between IOTA and Cardano began in 2020 when the co-founder expressed interest in collaborating with Cardano’s Charles Hoskinson. A user on Discord suggested that the IOTA Foundation should develop a bridge to Cardano, given their similar principles. Schiener explained that IOTA intended to expand its interoperability with other ecosystems, including Ethereum. Hoskinson responded quickly and requested a meeting with Schiener. Now, years later, the IOTA co-founder has revealed that there are plans to bring Cardano and IOTA/Shimmer together, which could be a significant development for both ecosystems.
The Shimmer network, launched in September 2022, serves as a staging network for IOTA’s mainnet. It enables rapid innovation and the testing of smart contracts under real-world conditions. It supports IOTA’s Layer 2 smart contracts, smart contract chains, DApps, and Web3 capabilities.
The Cardano Summit 2023 is set to be a major event, with over 100 speakers representing various aspects of the blockchain industry. Dominik Schiener will be among the speakers. The summit will also feature exhibition space, masterclasses, and community-led events across the globe.
Frederik Gregaard, CEO of the Cardano Foundation, expressed excitement about the summit and its location in Dubai, a rapidly emerging crypto hub. The event will take place from November 2 to November 4, 2023, at the Grand Hyatt in Dubai. The agenda includes sessions on operational resilience, blockchain education, regulatory issues, and accelerating blockchain adoption.
Currently, IOTA’s native token MIOTA is trading at around $0.169335, down 3 percent in the last seven days. ADA, Cardano’s native token, is trading at $0.292319, down 5.6 percent in the last seven days and 90 percent below its all-time high of $3. The potential partnership between Cardano and IOTA could impact the prices of these assets.
Overall, the integration of IOTA and Shimmer with Cardano holds promise for both ecosystems, and the upcoming Cardano Summit 2023 provides an opportunity for further exploration and collaboration in the blockchain industry.