Tim Harrison, an IOHK Cardano developer, has revealed the details of a major update in February meant to boost interoperability and enable the development of decentralized cross-chain apps.
What is the purpose?
By including support for common digital signature standards into the Plutus smart contract platform, the update should directly effect the cryptographic primitives used on Cardano and simplify the formation of cross-chain initiatives.
According to Harrsion, the differences in algorithms that we now have necessitate investing a significant amount of time, attention, effort, and money when dealing with other blockchains such as Bitcoin and Ethereum. According to the developer, in addition to consuming a large amount of resources, it also increases security threats.
As a result, in addition to support for Cardano’s primary digital signature algorithm, Ed25519, embedding capabilities to enable ECDSA and Schmitt signatures will be included. Surprisingly, the Cardano core algorithm is currently employed in Monero (XMR) and XRP.
When will it happen?
The update will go live on the test networks in February 11, then on the main network three days later – on Valentine’s Day. Following that, smart contract developers on Plutus will have access to a broader choice of multi- and threshold signature designs, ensuring the maximum level of security.
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