THELOGICALINDIAN - Parachain winners Acala and Karura will affix Polkadot and Kusama with the broader crypto ecosystem
Acala and Karura accept appear affairs to accommodate with the arch cross-chain bridge, Wormhole. The move will affix the Polkadot and Kusama ecosystems with eight added Layer 1 chains, including Ethereum, Avalanche, Terra, and Solana.
Polkadot Prepares for Wormhole Integration
The Polkadot ecosystem is amalgam with Wormhole.
Acala and Karura, two DeFi-focused parachains active on Polkadot and Kusama, accept appear that they will accommodate with the Wormhole cross-chain bridge. A Wednesday columnist absolution appear that development to affix the parachains to Wormhole was ongoing, with an estimated barrage date for the additional division of 2022.
The Wormhole affiliation will let users accelerate tokens from added Wormhole-connected Layer 1 networks to Acala and Karura. From there, tokens can either be adapted to added Polkadot and Kusama built-in assets or be acclimated as accessory to excellent the aUSD and kUSD stablecoins.
Once the arch is operational, it will accord the Polkadot and Kusama networks accessible admission to over $200 billion of clamminess from eight added Layer 1 networks. For example, DeFi protocols architecture on Acala or any added affiliated Polkadot parachains will be able to accommodate tokens beatific through Wormhole to use in crop agriculture strategies or to accommodate liquidity. Acala and Karura will accompany Ethereum, Avalanche, Solana, Polygon, Terra, BNB Chain, Fantom, and Oasis to become the ninth and tenth networks to acquiesce badge bridging through Wormhole.
Karura will be the aboriginal of the two networks to accompany Wormhole. Karura serves as Acala’s agnate on the Polkadot Canary arrangement Kusama. Like abounding antecedent launches and upgrades, new integrations will aboriginal be activated on Kusama afore actuality committed to the added defended Polkadot network.
Wormhole is a message-passing agreement that lets users accelerate assets such as tokens and NFTs beyond assorted blockchains application acute contracts. It additionally enables cross-chain advice protocols and multi-chain oracles to allotment advice amid altered Layer 1 chains.
While Wormhole has helped actualize a added commutual blockchain ecosystem, abounding accept aloft apropos over the aegis of the agreement and added agnate cross-chain bridges. In February, the Wormhole Solana arch fell victim to one of the biggest exploits in DeFi history back a hacker apish the arch alteration signatures to abduct 120,000 Ethereum account over $322 actor at the time. Added recently, the Ronin Network aggregation appear that its arch abutting Ethereum mainnet to the Axie Infinity ecosystem was hacked for about $552 actor on Mar. 23, added highlighting the vulnerability of cross-chain bridges. Nevertheless, as added blockchains attending to action a way to affix with Ethereum and added Layer 1 networks, appeal for cross-chain interoperability solutions charcoal high.
Disclosure: At the time of autograph this piece, the columnist endemic DOT, KAR, ETH, and several added cryptocurrencies.
