Cardano founder Charles Hoskinson has shared fresh insights into potential collaboration opportunities between the Cardano and XRP ecosystems.
Speaking during an interview on the Cardano-focused YouTube channel Big Pey, Hoskinson disclosed details about his recent discussions with Ripple executives Brad Garlinghouse and David Schwartz.
Hoskinson described the meeting as constructive, marking a notable improvement in their relationship. He emphasized that both parties have moved past prior tensions, fostering an atmosphere conducive to meaningful dialogue.
Exploring a Partnership Between Cardano and XRP
The discussions centered on the distinctive roles that Cardano and XRP play within the broader cryptocurrency space and possible synergies between the two ecosystems. According to Hoskinson, the conversation delved into areas where collaboration could promote innovation and wider adoption of blockchain technologies.
Key elements of the proposed partnership include leveraging Cardano’s Midnight and Marlowe technologies. Midnight is a privacy-focused sidechain within the Cardano ecosystem, while Marlowe provides a suite of tools designed to simplify the creation of smart contracts on Cardano.
XRP’s Potential Role in Midnight and Marlowe
Hoskinson revealed that XRP could be integrated into Cardano’s Midnight sidechain, potentially enhancing the platform’s overall utility. Midnight operates on a dual-token model featuring two core tokens: NIGHT, used for transactions, and DUST, the governance and staking token.
If realized, XRP could become a third token within the Midnight framework, offering alternative functionality. Hoskinson suggested that XRP could serve as a supplementary transaction token, though he clarified that these plans are yet to be finalized.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
In addition to Midnight, the integration of XRP with Marlowe was also explored. Hoskinson hinted that Marlowe might align better with XRP’s use case compared to ADA, Cardano’s native cryptocurrency.
Cardano’s Interest in Ripple Stablecoin
Beyond Midnight and Marlowe, Hoskinson expressed interest in Ripple’s upcoming stablecoin, RLUSD. This digital asset, recently approved by the New York Department of Financial Services (NYDFS), is set to launch on the XRP Ledger (XRPL) and Ethereum.
Hoskinson stated that Cardano would like to play a role in the stablecoin’s ecosystem. This could potentially involve Ripple deploying RLUSD on Cardano at a later stage, following its initial launch.
A Shift in Relations Between Cardano and Ripple
Speculation about collaboration between Cardano and Ripple has been circulating in the crypto community for weeks. The turning point came on November 10, when Hoskinson issued a public apology to the XRP community , signaling an end to years of hostility.
Shortly after, Hoskinson met with Garlinghouse and Schwartz to explore opportunities for cooperation. He underscored the importance of moving beyond past conflicts to focus on advancing blockchain technology and creating value for their respective ecosystems.
While no official announcements have been made, the discussions between Cardano and Ripple executives hint at promising possibilities for collaboration soon.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter , Facebook , Telegram , and Google News
