EMURGO, the commercial arm of the Cardano blockchain, has revealed a new investment in Fourier Labs, a provider of interoperability solutions.
This comes as Cardano’s focus on interoperability grows.
— EMURGO (@emurgo_io) February 25, 2022
The recent investment aims to develop the Cardano protocol and support interoperability, enabling and delivering an interoperable Ethereum Virtual Machine (EVM) compatible solution that will accelerate the transition of Ethereum-based projects into the Cardano ecosystem.
Cardano also plans to employ Fourier Labs’ interoperability solutions to drive decentralized applications and increase user adoption by lowering transaction fees, increasing scalability and security.
According to Defi Llama, adoption of DeFi protocols is on the rise, with nearly $200 billion in total value locked across all major DeFi protocols.
In just two years, this represents a profit of almost 240%.
Reduced transaction fees as a built-in feature of Fourier Labs’ interoperability solutions may allow Cardano-upgraded Plutos smart contracts and EVM-based smart contracts to be fully deployed in Cardano, driving adoption.
Cardano focuses on scalability and interoperability:
Cardano has recently taken the lead in adjusted transaction volumes, and Cardano users have paid lower fees than users on competing networks.
Milkomeda, a Layer 2 protocol that provides functionality on the Ethereum virtual machine, has announced the creation of the Ethereum Cardano Bridge Test Network in partnership with the Nomad protocol.
As a result, assets can be transferred between blockchain networks via the bridge.
Interoperability between Cardano, Solana, and other blockchain networks remains a future goal of the Milkomeda protocol.
Cardano is still at the foothills of the Pacho Upgrade phase, and thus, expansion remains another focus of the Cardano project.
To achieve expansion in 2022, Cardano intends to increase the block size, increase improvements in memory parameters and CPU to upgrade “Plutos”, and others.
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