Charles Hoskinson, the founding father of Cardano, and David Schwartz, the Chief Technology Officer of Ripple, have unveiled details a couple of potential collaboration between their respective blockchain platforms. The partnership goals to integrate Cardano’s advanced decentralized finance (DeFi) capabilities with Ripple’s extensive liquidity network, potentially bridging two of the industry’s most distinguished ecosystems.
Potential Cardano And Ripple Partnership Details
In the course of the AMA on Saturday night, Hoskinson was asked concerning the extent of cooperation between Cardano and XRP. He highlighted the mutual advantages such a partnership could offer, expressing that Cardano could “add amazing DeFi components to XRP,” while XRP could contribute significant liquidity, a “wonderful stablecoin layer” and bridges to the Cardano ecosystem.
Hoskinson also mentioned the potential of integrating Cardano’s privacy-focused sidechain, Midnight, with XRP, stating, “It could be super cool to see if there’s a path to get Midnight working with XRP.”
He revealed ongoing communications with David Schwartz, noting that their teams are in discussions and that he’ll meet with Schwartz. “So we’re meeting with David Schwarz here in slightly bit. I’ve been texting him forwards and backwards, his persons are talking my people. I sent him over a few of our papers in addition to the code for midnight and we’ll see,” Hoskinson remarked.
Confirming the meeting, Hoskinson posted on X on Monday, November 18: “It was great talking to David Schwartz about Midnight and XRP. Wonderful technical conversation.” David Schwartz responded positively, saying: “It was a pleasure talking to you. Midnight sounds extremely interesting.”
Midnight is Cardano’s upcoming sidechain designed to boost data protection and privacy through advanced cryptographic techniques, including zero-knowledge proofs. Operating alongside the predominant Cardano blockchain, Midnight goals to supply greater confidentiality for transactions and communications, making it suitable for applications that require stringent data protection, similar to secure messaging and personal transactions.
The potential integration of Midnight’s privacy features with XRP could provide significant benefits for each platforms. For Cardano, tapping into XRP’s liquidity and stablecoin capabilities could bolster its DeFi ecosystem. Conversely, Ripple could leverage Cardano’s advancements in privacy to boost data protection on the XRP Ledger.
The crypto community has shown keen interest within the potential collaboration. Pro-XRP attorney Jeremy Hogan humorously commented on the complexity of zero-knowledge proofs: “I got lost when the whitepaper talked about ‘zero knowledge proofs’ so I asked ChatGPT and it just said ‘Ask David Schwartz.’”
David Schwartz offered an accessible explanation, likening zero-knowledge proofs to a scenario where one proves the flexibility to unlock a lock without revealing which one it’s. He emphasized that while traditional proofs require interaction, the ‘N’ in ‘Zk-SNARK’ stands for non-interactive, making them more practical for blockchain application.
“Imagine that you understand the answer to a maze. Imagine that you should prove to me that you understand the answer to the maze but don’t wish to reveal the actual solution to me,” Schwartz explained the mechanism of zk-SNARKs.
At press time, ADA traded at $0.74.
Featured image from YouTube, chart from TradingView.com