The Cardano Foundation and Injective have announced an IBC connection between their networks. The integration currently works between Cardano Preprod and Injective Testnet, allowing test $ADA to move between the two ecosystems.
IBC, or Inter-Blockchain Communication, is a protocol that allows separate blockchains to exchange assets and verified data. In the current setup, test $ADA is locked on Cardano, while an equivalent IBC voucher is created on Injective. When the asset is returned, the voucher is burned, and the $ADA is released on Cardano.
Cardano is a blockchain focused on smart contracts and decentralized applications, while Injective is a network built for financial applications and markets. The connection could eventually allow assets from Cardano to be used in supported Injective applications, markets and liquidity protocols.
Image: Magnific
