Coin Edition -
- Cardano Network is set to deploy a new cryptographic primitive that will improve the interoperability of the blockchain.
- The upcoming upgrade will make it easier for developers to build cross-chain applications in a more secure ecosystem.
- SCEP upgrade will solve the existential problems of performance and security during inter-blockchain interactions.
The Cardano Network is set to deploy a new cryptographic primitive that will improve the interoperability of the blockchain. The upcoming upgrade will make it easier for developers to build cross-chain applications in a more secure ecosystem.
In a blog post, a representative of the Cardano team explained that Input Output Global (IOG) added new built-in functions to Plutus, Cardano’s original cryptographic storage system. This addition will enable Plutus to support ECDSA and Schnorr signatures, cryptographic systems popular with other blockchains.
According to the blog post, this fresh development will allow developers on Cardano to use a wider range of multi-signature or threshold signature designs natively on Cardano. Therefore, developers will no longer have to expose their systems to external security threats achieving interoperability. The time and resources they commit to developmental processes will also reduce significantly.
There is currently a variation in the cryptographic algorithm implemented by Cardano and those of other prominent blockchains. The Cardano blockchain deploys the Edwards-curve Digital Signature Algorithm (EdDSA) with elliptic curve Curve25519 as its base curve (aka. Ed25519). This algorithm is behind the network’s improved performance and security due to the possibility of achieving fast signature verification and small signature sizes. The Ed25519 is also resistant to certain attacks, making it a more secure choice.
Other top blockchains like Bitcoin and Ethereum implement the Elliptic Curve Digital Signature Algorithm (ECDSA) and Schnorr signatures. Hence, interoperability with Cardano has been challenging. The process attracts a considerable amount of security risk and consumes unrealistic amounts of resources.
IOG’s upcoming implementation should solve the existential problems, as reported by the representative. It will allow developers to build within the blockchain without committing excessive resources and not exposing their applications to unnecessary risks.
The upcoming improvement, known as the SECP upgrade, has undergone rigorous testing since November 2022. All the stakeholders in the Cardano ecosystem have participated in the integration testing and preview test for the upgrade, which is now close to deployment on the Cardano mainnet.
The post Cardano Network’s Upcoming Upgrade to Improve Interoperability appeared first on Coin Edition.