Kadena has announced its partnership with Ideasoft. The goal is to introduce EVM interoperability via Hyperlane. It has been described as simply bringing the next generation bridge to the ecosystem.
Some of the key components going live under this association are:
- DeFi financial instruments are gaining recognition and use
- Seize opportunities that have so far eluded the ecosystem
- Higher interaction with dApps, allowing a larger user base to access facilities supported by an intuitive user interface
- Increased liquidity and better potential for stable currency
- EVM compatibility, which is the core of the collaboration between Kadena and Ideasoft
Kadena chose Hyperlane over all other options because of the variety and amount of benefits it brings to the ecosystem. This includes the nature of permissionless, modularity, and customizable cross-chain security.
The solution to innovation concerns is modularity. This is significantly related to the challenges blockchains currently face. Developers are essentially free to select the security features that best suit their requirements, rather than being forced to use the default option.
The permissionless feature allows developers to deploy their projects without asking permission from anyone: a central authority. Nor are they required to pay thousands of dollars to Hyperlane for its use. All it takes is a small number of scripts and documents to deploy Hyperlane.
Customizable cross-chain security allows developers to configure, personalize, and curate security settings based on the needs of different applications. It also facilitates the deployment of dApps across multiple blockchains. What makes it intriguing is the offering of SDKs and APIs for the construction of dApps and seamless communication between different blockchains.
The announcement has yet to have a positive impact on the ecosystem’s native token, KDA. The price last traded at $0.5049, down 4.12% from the day before. However, it is up 0.44% in the last 7 days. KDA forecast estimates that the Kadena token could end up at a high of $1.38 in 2023. Alternatively, it can be limited to the lowest value of $0.57.
GreetingKadena’s partnership with Ideasoft for Hyperlane is expected to provide the Kadena community with access to a wide range of products. Hyperlane has the potential to change the way Kadena interacts with blockchain applications, with convenience as the primary element.
Going forward, the community can expect to be part of a new era that has begun for Kadena, according to the announcement, with more updates and announcements to be made in the coming days. The community is also waiting for an official release date, along with the Kadena Campfire, which is scheduled for November 8, 2023.
The Kadena community has responded positively to this announcement, with most of them saying that things are getting better in the ecosystem. Others have congratulated the team for putting it together and are now looking to drive better performance results in the fourth quarter.
