Cardano collaborates with Polkadot, is it a bullish sign for Dot & ADA coins?

The Polkadot & Cardano project team came into a new partnership to push blockchain technical advancement to the next level. 

Cardano is a popular Proof-of-stake (PoS) consensus-based scalable blockchain network that is mainly known for fast crypto transactions with low fees & with better stability. Ethereum co-founder Charles Hoskinson is the founder of this project and he is CEO of Input Output Hong Kong Global (IOHK) which is responsible for the development activities in the Cardano Blockchain ecosystem.

Recently Polkadot (Dot) crypto team announced that they collaborated with Cardano developer team IOHK to push the development activities around the Web3 & blockchain network interoperability.

1/ Cardano will use Substrate, the foundation of the Polkadot SDK, to build out its “partner chain” project — showcasing Substrate's potential to expand across Web3, and its ease of use for other chains and ecosystems

— Polkadot (@Polkadot) November 6, 2023

Under this partnership, Polkadot developers & Cardano’s IOHK developers will share their tech & talents to bring innovative blockchain solutions to enhance the interoperability between different networks.

The Polkadot Crypto project was founded by Gavin Wood who is also one of the co-founders of the Ethereum blockchain, the second top-ranked crypto asset by market cap. 

Dot is the native token of the Polkadot crypto project and the current trade price of Dot coin is $4.86 which is 11% higher over the last 7 days of trade price.

Ada is a native coin on the Cardano blockchain network. The current trade price of ADA coin is $0.34 which is 19% higher over the last 7 days of trade price. 

Notebely Polkadot is backed by VCs while Polkadot is far away from any kind of VC investment and that is why Cardano usually fails to grab media attention, as many times Cardano founder Hoskinson claimed.

Here we can conclude that there are huge chances that Cardano will get high level media attention with Polkadot in the crypto space.

Read also: Kazakhstan bans Coinbase’s crypto services